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October 2021

Getting Real with Vasayo Founder and Chairman Dallin Larsen
Direct SellingGetting Real InterviewsNews

Getting Real with Vasayo Founder and Chairman Dallin Larsen

A direct selling veteran talks about the importance of technology and leadership in building global companies

By:  David Bland

Dallin Larsen, a former Ernst & Young National Entrepreneur of the Year and Utah CEO of the Year, founded Vasayo in 2016. Prior to Vasayo, Larsen founded MonaVie in 2005 and grew that company from zero to nearly a billion dollars in annual sales in less than five years. Under Larsen’s direction, Vasayo’s philanthropic partnership with Hearts & Hands for Humanity has generated enough contributions to build more than 130 wells in Tanzania, Africa, delivering clean water to hundreds of thousands of people. 

Founded: 2016
Location: Pleasant Grove, Utah
Website: vasayo.com

SSN: Tell us about your history in direct selling.

My first experience with network marketing was with Nu Skin in 1988. I was in my late 20s and living in San Diego, California. I fell in love with the industry and what it could do for me and my family as well as others. About a year later, a gentleman called to tell me about a new company and asked that I meet with the founder. So, I interviewed with Myron Wentz, the founder of USANA. One thing led to another, and the next thing I knew I was heading up sales for that company. We launched USANA in 1991, and I was with them for roughly 10 years. That’s where I cut my teeth and gained a lot of valuable experience. 

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October 3, 2021 0 comment
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People on the Move – October
People on the Move

People on the Move – October

PEOPLE ON THE MOVE

PEOPLE ON THE MOVE – October

October 1, 2021

 

François Renard, Amway 

François Renard has joined Amway as chief marketing officer. Renard joins Amway from automaker Renault Group where he was global chief marketing officer. At Amway, he will focus on brand and digital experience. Renard’s marketing career of over 25 years began at Unilever’s personal care business. He was also CEO of its Kate Somerville brand.

 

Chris Reid, Plexus

Plexus Worldwide has promoted Chris Reid, previously vice president of compliance and general counsel, to chief legal officer. Reid will now lead legal, regulatory affairs, corporate affairs, quality, and compliance teams. Reid joined Plexus in 2015 and has nearly 40 years of legal experience, including time at FreeLife International and Vemma.

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October 3, 2021 0 comment
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Direct-to-Consumer Strategies That Work
Social Tech Update

Direct-to-Consumer Strategies That Work

How companies can take ownership of their brand by talking directly to consumers

By:  Daryl Wurzbacher, ByDesign Technologies

Over the years, companies have leveraged representatives in various ways to acquire and service customers with varying levels of engagement. Depending on the company’s exact product, service, and culture, this could include a wide range of focus—from creating brand awareness and developing and conducting product training, through to providing customer service for new customers.

Today, there is an emerging trend of companies taking more control over their brand’s representation and outreach efforts by talking directly to consumers instead of relying solely on the representatives in the field. Through these direct outreach efforts, companies have been able to multiply and accelerate brand awareness as well as have more control over their customer acquisition process.

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October 3, 2021 0 comment
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The DSSRC Hits Its Stride in 2021
Cover StoryDirect SellingFeatures

The DSSRC Hits Its Stride in 2021

Channel watchdog counsels companies, maintains dialogue with regulators

By:  David Bland

For the cases that get to the level of a DSSRC referral, usually there’s an issue of systemic patterns of behavior that are going on—particularly with the claims; it is rarely a one-off post, and, with respect to earnings claims, in particular, it’s often the tip of the iceberg that leads the FTC to a much deeper rabbit hole.

— Peter Marinello, Vice President at BBB National Programs and Director of DSSRC

In 2019, the direct selling channel officially became a self-regulated business sector. Two years on, and the channel is reaping the benefits. Founded by the Direct Selling Association (DSA) and administered by BBB National Programs, the Direct Selling Self-Regulatory Council (DSSRC) is an independent, non-profit organization that is continuing its mission of oversight through monitoring, investigation, and enforcement of the regulations and ethics standards that have been set in place for direct sellers by the Federal Trade Commission (FTC) and the DSA.

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October 1, 2021 0 comment
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FTC Continues Its Mission Makeover and Streamlining of Rulemaking Procedures
Cover StoryDirect SellingFeatures

FTC Continues Its Mission Makeover and Streamlining of Rulemaking Procedures

Commission approves changes to ‘democratize the process’ and encourage public participation

In addition to formal rulemaking, the new changes will also apply to requests by certain parties [including the direct selling channel] for special exemption from FTC rules, as well as petitions related to industry guidance issued by the Commission.

—Federal Trade Commission

Marking a continued effort to implement streamlining and overhauls to its rulemaking procedures authorized under Section 18 of the FTC Act, the Federal Trade Commission (FTC) held a virtual open meeting on Sept. 15, 2021. One of the items on the agenda was a vote to approve changes in the Rules of Practice and other rules affecting public access to the petition component of the FTC’s rulemaking process.

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October 1, 2021 0 comment
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Public Direct Sellers Post Updates for Shareholders
Cover StoryDirect SellingFeatures

Public Direct Sellers Post Updates for Shareholders

Two major nutrition companies lower projections as growth slows

As the third quarter of 2021 drew to a close, several public direct selling companies made announcements to their shareholders. Both Herbalife and USANA disclosed downward revisions to their 2021 outlooks, while Medifast, Mannatech and Nu Skin announced dividends.

Herbalife Lowers Expectations in Advance of Investor Day

In advance of its 2021 virtual investor day presentation, Herbalife announced on Sept. 13 that it is revising its third-quarter and full-year 2021 projections. The global nutrition company detailed lower than expected sales growth from its distributors despite the number of actively selling independent distributors increasing by 10 percent for the months of July and August compared to 2020.

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October 1, 2021 0 comment
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US Remains Attractive Market for Channel Expansion
Direct SellingNewsSpecial Report

US Remains Attractive Market for Channel Expansion

Direct sellers should still be prepared for high, competitive threshold and tough regulatory landscape

By:  Stephanie Ramirez

In this new era of social selling in the United States, there is a strong focus on customers, so you need a good product. The brand and products are as important as the opportunity.

—Ray Urdaneta, CEO and Co-Founder, MONAT Global

You have to decide beforehand what you’re open to changing and what you’re not open to changing, but that’s going to drive the whole modeling process and the whole testing process.

—Jacques Mizrahi, CEO, SwissJust USA

The United States is a reliable and consistent economy with a long-standing history of growth. According to the economics research firm, Focus Economics, it will most likely retain the title as the world’s largest economy, with a forecasted GDP of $25.3 trillion (USD) in 2024. In addition to the favorable economic climate, in comparison to many other countries, the U.S. is a wealthy nation with over 320 million people, many of whom like to shop. 

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October 1, 2021 0 comment
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