Business

Built to Win: Neora’s Seven-Year Battle with the FTC

Welcome to another edition of the “Built to Win” podcast, where we explore the challenges and triumphs of building a successful business. Today, we delve into the remarkable story of Neora, a company that took onFederal Trade Commission’s (FTC) ‘s might(FTC) and emerged victorious.

Joining uhs, the CEO of Neora, and Jeff Olson, the company’s founder. Togethe, Joining usr, they share the remarkable journey that unfolded over the course of seven years, as Neora stood firm in the face of a relentless government investigation.

Jeff Olson, a seasoned entrepreneur with a background in the direct selling industry, had a vision to create the “perfect” direct sales company. Guided by the principles of personal development and a commitment to “making people better,” Olson and his team, including Debra Highs, set out to build Neora. The company quickly gained recognition, breaking records and earning prestigious accolades, such as being named one of the fastest-growing companies by Inc. 500.

However, Neora’s success caught the attention of the FTC, who initiated a civil investigation demand (CID) into the company’s practices. Olson and Highs, confident in their adherence to the law and their commitment to ethical business practices, readily provided the FTC with over 6 million documents and 16 rounds of production over the course of three years.

But the FTC’s investigation took an unexpected turn. It became clear that the government agency was not interested in enforcing existing laws or considering the extensive economic analysis presented by Neora’s experts. Instead, the FTC seemed determined to force Neora to adopt a business model that would have devastated the livelihoods of its independent distributors.

Faced with this ultimatum, Olson and Highs made a bold decision – they sued the FTC. This move was unprecedented, as no other company in the industry had taken such a stand against the government agency.

The ensuing legal battle was arduous and trying. Neora faced a barrage of challenges, from losing credit card processing and banking services to the departure of key executives due to the immense pressure. However, Olson and Highs remained steadfast in their commitment to their principles and their belief in the company’s integrity.

Throughout the seven-year ordeal, Neora’s leadership focused on maintaining the company’s forward momentum. They continued to invest in product development, expand their customer base, and strengthen their team’s unity. Olson and Highs instilled a sense of conviction and positivity, ensuring that Neora’s vision and values remained at the forefront, even in the face of adversity.

In October 2022, Neora’s perseverance paid off. After a lengthy legal battle, the company emerged victorious, with the judge ruling in their favor on all five counts brought by the FTC. This landmark decionly vindicated Neora’s business practand also set a precedent for other companies facing similar challenges.

The victory has had a profound impact on Neora’s team and community. The company’s culture has become even stronger, with long-term employees and distributors standing solidly behind the leadership. Neora has emerged from the trial as an even more resilient and purpose-driven organization, poised to continue its mission of “making people better.”

As Debra Highs and Jeff Olson reflect on this remarkable journey, they emphasize the importance of staying true to one’s values, maintaining a positive vision, and building a united team willing to weather any storm. Their story inspires entrepreneurs and businesses alike, reminding us that with unwavering determination and a commitment to doing what’s right, even Goliath can be defeated.

Join us in the next episode of “Built to Win” as we delve deeper into the details of Neora’s legal battle and the key business fundamentals that enabled their historic victory.

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