Sonic Boom has never taken a dime of funding or debt, and is not beholden to a board of directors. We’re self-funded and managed by the founder CEOs.
1. For starters, it means we don’t have to have a 3-year exit strategy. Most vendors have taken millions in VC funding, and they’re stuck with no choice but to exit within a few years when it comes time to pay the piper. What does that mean for these vendors’ clients? No one knows – and that’s a little scary, if you ask us.
2. A second advantage to having no debt is we’re flexible and nimble, with decisions made on-the-spot. We don’t have to go back to a board of directors (wait HOW long for the next meeting?) to get approval to do what we want and need to do now to make sure our clients receive the best service possible. This isn’t to say we make key decisions on a whim or without careful consideration – but it does mean the buck stops with us.
3. Probably most importantly, when you’re dealing with Sonic Boom, you’re dealing with the founders, who are involved in every facet of the business on a daily basis. No one cares more than the founders of a company – not a stodgy board of directors or a hired CEO, that’s for sure. We’re fully accountable for clients’ satisfaction and the happiness of our employees, and we take that seriously. Go ahead – call us David in a world of Goliaths. At least you know we’ll be around in three years. And at least you know we’re doing what makes sense for our clients’ wellness success – not for pure topline growth.