Business Growth in Complex Times with Al Grossnickle

Dr. Al Grossnickle is the owner of Strategic Venture Partners LLC, a consulting company that helps entrepreneurs grow their businesses. For over a decade, Al worked as an Associate Professor of Business at Grace College, where he was also the Director of the William P. Gordon Institute. At the University of Saint Francis, Al served as the Assistant Professor of Entrepreneurship and Director of the Entrepreneurial Leadership Program. He had also served as the President, CEO, and Corporation Founder of Miller's Health Systems for eight years before he embarked on his academic career in 2006. Al draws from his extensive experience in the academic and business worlds to guide his clients through today's complex markets and the ever-changing world. Al joins me today to share his insights on weathering the complex business climate amidst the pandemic. He shares his career journey and explains how he uses his experiences to help other entrepreneurs grow their businesses. He shares his advice on mitigating turnover and attrition rates among Boomer employees and healthcare workers. He also highlights the importance of surrounding yourself with people smarter than you and underscores the power of keeping a sustainable competitive advantage. "The dynamics of business are rapidly changing today. Listening and humility have become more important for CEOs." - Al Grossnickle This week on The Owner's Corner: The challenges Al faced as a top executive of Miller's Merry ManorHow Al's experience as CEO informs his current role as a business consultantSupply chain issues and other challenges business owners are facing due to the pandemicHow a bonus structure may bridge the challenges that may come with raising employee wagesWhy business owners should consider outsourcing parts of their businessesAddressing labor turnovers in the healthcare industryThe impact of vaccine mandates on labor, logistics, and supply chainHow business owners are reacting to the rising cost of raw materialsHow to manage the attrition trend among Boomer employeesThe importance of creating a strong succession planThe value of surrounding yourself with the right professionalsSetting up a family business for the next generationAvoiding complacency and how hiring a business consultant can help your company grow Our Favorite Quotes: "Running a business is a labor of love, but outsourcing can help you spend more time on parts of the business that are most productive." - Seth Whicker"There is an economic incentive to getting the balance back between supply and demand. The key is knowing how long it takes to get there." - Seth Whicker"The definition of business and profit is to maximize shareholder wealth; otherwise, companies will stop reinvesting." - Al Grossnickle Connect with Al Grossnickle: Strategic Venture PartnersEmail: [e-mail] Grossnickle on LinkedIn About SYM Financial and The Owner's Corner Podcast The Owner's Corner is a show for business owners. In each episode, host and financial planner Seth Whicker sits down with business owners and the professionals that serve them to talk about what it takes to build a business. Our guests come from many industries and walks of life to share their biggest wins, mistakes made along the way, and their thinking about the all-important exit planning. Email Seth at [e-mail] with questions, comments, and to schedule a one-on-one conversation. Follow Seth on LinkedIn Follow SYM Financial on Facebook Subscribe here: Apple Podcasts Spotify Google Podcasts TuneIn Amazon Music / Audible Stitcher And, if you enjoy the show, please leave a review on iTunes to help others discover the podcast. Disclosure: The information contained in this message (including any attachments) is confidential and may be privileged. It is intended only for the recipient(s) named above. If you are not the intended recipient, you are hereby notified that any review, dissemination, distribution or copying of this message is strictly prohibited. If you have received this communication in error, please notify SYM Financial Advisors ("SYM") immediately and destroy the material in its entirety. All communications requiring immediate attention or action, such as trade requests or other time sensitive matters should not be sent to SYM via email. Internet communications cannot be guaranteed to be secure or error-free as information may arrive later than intended, be intercepted, be corrupted, or contain viruses. This material is not an offer or solicitation to buy or sell any product. The opinions expressed herein are those of SYM and are subject to change without notice. To the extent that performance information is contained in this email, past performance is not indicative of future results. SYM is an independent registered investment adviser. More information about SYM including our investment strategies, fees and objectives can be found in our Form ADV Part 2, which is available upon request.