Sued by the FTC (settled)

This week, I settled with the FTC!

I've been bearing this weight for over two years, and it sucked.

Below are some learning lessons. Wisdom for navigating the storm.

You'll know more of the story if you've followed me for a while. For those who still need to, here's the tl:dr.

- On Oct. 21' one of my businesses received a "warning" letter from the FTC. There were about a thousand other businesses on that list. It was a "you might be out of compliance" letter.
- We immediately turned off ads and engaged counsel to ensure compliance.
- The FTC "secret shopped" us in April of 22.'
- I left the businesses in June of 22.'
- The FTC secret-shopped us again in Sept. of 22.'
- Oct. 22' I received a 60+ page CID (investigative letter).
- By Feb. 23' we finished submitting all requested documents.
- On June 23' I started negotiations.
- This week, the suit and settlement were filed.

What you don't get in that list is the range of emotions, hundreds of conversations, sleepless nights, fear like I've never had before, and more.

I didn't admit wrongdoing, and they didn’t provide an official customer complaint. Nothing was proven in a court of law. I didn't have the energy or desire to go to court. That would have been a long, drawn-out fight. So, I decided to settle and move on with my life.

According to the FTC regulations, most businesses aren't currently compliant. We weren't.

Here are a few learning lessons. These don't apply only to the FTC but to any "crisis." Take them, use them, and live wiser.

1. Build on the Right Foundation

Only build a compliant business. If you get the shakedown, what do you have?

The proper foundation is doing things right from the get-go. Naivety doesn't work in this scenario.

2. It'll Suck But It's Gonna Work Out

A good sailor is made in the storm, not a safe harbor. If you're in the game, expect to get hit hard. Things always seem to work themselves out, though.

It might not be how you pictured it, but it will make you better.

3. Control Your Mind

Dealing with a massive unknown like a federal agency, your mind can run rampant. Mine did. Hence the many sleepless nights.

How the mind goes, everything else flows. Emotions should follow mindset. Not the other way around.

How we think can make things better or worse. The choice is yours. If you’re in a tricky spot, check your mind and the story playing there.

4. Let Pain Have It's Full Effect

Don't let a good tragedy go to waste. Get your money's worth.

The gift you’re receiving? Expansion, greater resilience, sharpening character, and many other crucial things you can't use money to buy.

5. Surround Yourself With Great People

When the agency dropped their press release, and the news started making waves on the interwebs, I got a bunch of messages even though I've been talking about this situation for months now.

The messages were of full support. I felt immense gratitude for my relationships and the support people gave me. That's worth more than anything!

6. Talk to A Professional

I share many things with my rock, Missy. However, sometimes, I didn't want to communicate with a protective filter. Having an excellent mindset coach or therapist in your corner is vital. Not just in crisis but ongoing.

7. Forgive Yourself and Move On

My first reaction was intense feelings of shame and guilt. It took me a long while to shake that off. Nobody close to me (who matters) wagged their fingers of judgment at me.

It was only me wagging my finger at myself. The best thing to do is let the shame, guilt, and judgment go. Then forgive yourself, take the learning lessons, and be wise AND a better steward moving forward.

That's part of where this concept came from. What would my life and business look like if I wasn't so hell-bent on scale-no-matter-what?

Slowing down, being very intentional about what I'm doing, and ensuring I'm in sync is good stewardship. You don't need to rush. It might be more challenging. You might go slower than others. But it'll be right. That's the most important thing.

Bonus lesson below.

Here's to expansion from hard seasons!

Chris

Bonus #8. Work Towards Something New

I love what Jason Redman (former Navy Seal) said in his book Overcome; “Get off the X.” When you’re attacked, you gotta move. Jason was pinned down, taking bullets. He only had one option. MOVE.

Fix your sites on something and work toward it. Don’t ruminate on everything that went wrong. Find a new target and get going. It could be really slow. Jason had to drag himself off of the X. His body was littered with bullets he couldn’t move fast.

Do what you can do to take steps in a new direction.