Sonance at a Turning Point A Natalie Mizik
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The turning point for Sonance was in its turnaround at the end of 2013 when the board of directors removed CEO Mike Banks and named Natalie Mizik as CEO with a year-long incentive plan that had a stock-based component. At the time I took over, the company was losing the market share to other companies and stocks. The shares had fallen by over 60% in 1 year. We had lost over 30,000 customers in Q3 2013 (as
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Natalie Mizik was 42 years old at the time when I met her. She was struggling to make ends meet and had an uncertain future. But she was an ambitious person, and her unwavering determination to become a successful author drove her to make a miracle. At a turning point, Natalie met with a literary agent. Her first attempt to get published was a disappointment as the agent refused to represent her. However, this incident gave Natalie a chance to reflect on her situation. The agent suggested that she try an
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In 2016, Sonance Technologies LLC (formerly Sonance Wireless, Inc.) was founded by a father-daughter team in St. Paul, Minnesota. Sonance was created as a marketing and selling entity of high-end consumer audio, primarily selling home speakers, and audio accessories. With offices in St. Paul and Nashville, TN, Sonance quickly developed a reputation for creating and selling high-end sound systems. Fast forward to 2019, Sonance finds itself in
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