Entrepreneurship 101: Practical Business Strategies by An Expert Did you know that you can achieve your 10 years of business goals in 6 months through merger and acquisition activities? Interesting, isn’t it? But before buying a business, you have to know how to organically grow it and provide value to shareholders.  In this episode of Page One Podcast, Luke Peters speaks with Neal Asbury about his manufacturing and exporting of kitchenware business. Neal is the CEO of the Legacy Companies, a diversified group of businesses engaged in manufacturing and distribution and doing business in over 130 countries. He also hosts a weekly national syndicated radio show called Neal Asbury’s Made in America. Listen in to learn the importance of opening up of foreign markets to the American entrepreneur. You will also learn about the strategies you need to consider if you’re thinking of mergers and acquisition activities. Key Takeaways: How COVID-19 has changed the remote working spectrum presently and the unforeseeable future. How mergers and acquisitions help with faster growth of a business and factors to consider before jumping into it. The importance of having business liquidity and cashflow. Finding a better public company in your area of operation to benchmark against and shoot for what they’re shooting for. The importance of opening up foreign markets to American manufacturers. Episode Timeline: [2:40] Neal describes his background in manufacturing and what the Legacy Companies do as a manufacture and exporter of kitchen appliances sold to the consumers and the commercial market. [4:49] He explains his companies’ experience during the COVID-19 pandemic; remaining open and most employees working remotely. [7:55] How remote working has worked out in the manufacturing industry and its impact on sales. [16:54] He talks about how Legacy Companies was built with 70 percent coming from mergers and acquisition activities and 30 percent from brands and products he created on his own. [23:12] What you need to think about when considering whether or not to do merger and acquisition work as you grow your business organically. [27:23] The simple practices of cash flow and asset management for business owners. [31:31] The smart strategies you need to apply to your business to start making good money and be attractive to investors. [42:04] Neal explains why managing a big company is the same as managing a small company- both managers strive for success. [44:27] He describes why he wrote his book ‘Conscientious Equity’ where he imagined a world where America would compete freely and fairly. [52:56] Why foreign markets need to be opened up to the American manufacturers to sell in the same way foreign manufacturers are selling to the American market. [1:00:56] Why the government needs to show up for entrepreneurs and open up foreign markets in the same way others have access to the American markets. Quotes: “Whenever you’re building a business, you should be thinking about ‘who would be the buyer of this business’ because we’re not going to live forever.”- Neal [31:38]