---
title: Let's Talk About..
description: Join Cynthia Nelson as she interviews Luke Peters, founder of Apex CEO and Strategy by Luke, on scaling businesses, building strong teams, fostering company culture, and planning for successful exits. A must-listen for entrepreneurs!
image: https://www.apexceo.co/hubfs/38743798-1714156854745-b2a23e7f43c23.jpg
---

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# Let's Talk About..

[Home](https://www.apexceo.co/) / [Insights](https://www.apexceo.co/blog) / Let's Talk About..

[![blog image](https://www.apexceo.co/hubfs/38743798-1714156854745-b2a23e7f43c23.jpg)](https://www.apexceo.co/blog/lets-talk-about)

[By Luke Peters](https://www.apexceo.co/blog/author/luke-peters)  Dec 10, 2024

Luke had a chance to sit down with Cynthia Nelson and discuss his journey when he started NewAir in his garage, he never imagined it would grow into one of America’s top private internet retailers, generating over $600 million in sales and hitting $80 million in a single year.

The journey taught him what it takes to scale a business, overcome setbacks, and build something that lasts.

Now, as Executive Chairman and through Apex CEO, he is using those lessons to help other entrepreneurs achieve successful exits.

Whether it’s navigating growth or preparing for the next step, he's been there and can guide the way.

If you’re looking to scale or plan your exit, schedule a free call now!

![ceo](https://www.apexceo.co/hubfs/38743798-1714156854745-b2a23e7f43c23.jpg)

![](https://www.apexceo.co/hubfs/raw_assets/public/apex/assets/images/shape/play-single.svg) Click To Play

---

### **Episode Notes: Let's Talk About - Featuring Luke Peters**

**Host:** Cynthia Nelson  
**Guest:** Luke Peters, Founder of Apex CEO, Creator of "Strategy by Luke," and Former Founder of NewAir

---

#### **Episode Highlights:**

1. **Guest Introduction:**
   
     - Luke Peters shares his entrepreneurial journey, scaling NewAir from a garage startup to a successful exit in 2021.
2. **The NewAir Story:**
   
     - Started during the early 2000s in the dot-com bust.
     - Focused on a niche (portable air conditioners) and grew from a garage to a company operating in multiple warehouses.
     - Exited to private equity after two decades of growth.
3. **Key Lessons Learned:**
   
     - The importance of quick decision-making in entrepreneurship.
     - Challenges of financial management in the early stages.
     - Hiring top talent and recognizing the value of experience over energy.
     - Shifting from being overly optimistic to a balanced, data-driven approach.
4. **Building and Leading Teams:**
   
     - Emphasized accountability as a founder—everything starts and ends with leadership.
     - Tips for fostering a strong company culture: 
           - Encouraging friendships among employees.
           - Openly sharing business goals and financial insights to align teams.
           - Creating an environment where team members feel empowered to take risks without fear of failure.
     - Strategies for managing and engaging with Gen Z and younger employees.
5. **Exit Planning and Long-Term Vision:**
   
     - Insights on planning for an exit early in the business lifecycle.
     - De-risking the business for potential buyers by building strong management teams and focusing on EBITDA margins.
6. **Advice for Entrepreneurs:**
   
     - Avoid blaming external factors; take responsibility and adapt.
     - Focus on long-term planning and big-picture questions.
     - Build businesses with a purpose beyond just achieving a financial exit.

---

#### **Key Takeaways:**

- **Entrepreneurship is a marathon, not a sprint:** Growth takes time, patience, and resilience.
- **Culture is key:** Building a workplace where employees feel connected, valued, and empowered is crucial for retention and success.
- **Plan for the future:** Think about your exit strategy early, but stay passionate about the journey.

---

#### **Connect with Luke Peters:**

- **LinkedIn:** [Luke Peters](https://www.linkedin.com/in/luke--peters/)
- **YouTube Channel:** [Luke Peters](https://www.youtube.com/@StrategyByLuke)

---

**Quote of the Episode:**  
*"Entrepreneurship is about solving problems quickly, learning from mistakes, and staying accountable. Your mindset as a leader determines the success of your team." – Luke Peters*

![Luke Peters](https://www.apexceo.co/hubfs/7L7A3072_crop.jpeg)

#### Luke Peters

 Luke Peters founded NewAir in 2001 and built it from a garage business into a national appliance brand, with products sold through Home Depot, Lowe’s, and Best Buy. He sold the company to private...

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      "rss_body" : "<p style=\"font-size: 14px;\">Luke Peters started his entrepreneurial journey reselling everyday appliances like bar fridges online. Over time, he built his own brand and transitioned to selling through major e-commerce retailers. By 2022, Luke had grown NewAir into a business generating $80 million in annual revenue before selling it for a life-changing exit.</p>\n<p style=\"font-size: 14px;\">In this episode of <em>Built to Sell Radio</em>, Luke shares key insights, including:</p>\n<ul style=\"font-size: 14px;\">\n<li>How to apply his “10% Rule” to drive growth and efficiency.</li>\n<li>Strategies to de-risk your business and make it attractive to acquirers.</li>\n<li>How to identify and avoid acquirers who aren’t serious or financially capable.</li>\n<li>The critical question every buyer will ask—and how to answer it effectively.</li>\n</ul>\n<p style=\"font-size: 14px;\">Luke’s journey is a masterclass in transforming a small start-up into a valuable, scalable business.</p>\n{% module_block module \"widget_68f6bc73-c34b-4cfa-bc2f-89779b197a97\" %}{% module_attribute \"child_css\" is_json=\"true\" %}{% raw %}null{% end_module_attribute %}{% module_attribute \"css\" is_json=\"true\" %}null{% 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Preparing for a Successful Exit</p>\n<!--more-->\n<p><strong>Listen Now:</strong> Tune in to this insightful episode of Built to Sell Radio to learn how Luke Peters turned NewAir into a household name and a success story for entrepreneurs everywhere!</p>\n<hr>\n<h3>Key Highlights:</h3>\n<h4><strong>Founding NewAir: The Bootstrap Journey</strong></h4>\n<ul>\n<li>Luke Peters launched NewAir in 2001, starting from his garage with his wife and nephew.</li>\n<li>Inspired by his brother’s success in e-commerce, he tapped into SEO and targeted niche HVAC products like portable air conditioners and thermostats.</li>\n<li>Early sales involved reselling Granger products online, which later evolved into importing branded products under NewAir.</li>\n</ul>\n<h4><strong>Building a Brand</strong></h4>\n<ul>\n<li>Transitioned from reselling to developing NewAir-branded products.</li>\n<li>Focused on underrepresented product niches like beer fridges and portable appliances, avoiding direct competition with giants like Whirlpool.</li>\n<li>Leveraged SEO tools like Google Trends and SEMrush to identify trending product niches.</li>\n</ul>\n<h4><strong>Scaling Challenges</strong></h4>\n<ul>\n<li>Grew from a garage operation to over seven warehouse moves, managing logistics for up to five containers daily.</li>\n<li>Pivoted from 100% direct-to-consumer to a predominantly B2B model, partnering with big-box retailers like Home Depot, Lowe’s, and Amazon.</li>\n</ul>\n<h4><strong>Financial and Operational Mastery</strong></h4>\n<ul>\n<li>Bootstrapped growth with cash flow and negotiated supplier terms.</li>\n<li>Invested in a proprietary ERP system to streamline operations and scale efficiently.</li>\n<li>Maintained profitability despite industry challenges by focusing on product differentiation and operational efficiency.</li>\n</ul>\n<h4><strong>Exit Preparation</strong></h4>\n<ul>\n<li>Key improvements before selling:\n<ul>\n<li>Built a top-tier management team.</li>\n<li>Transitioned to NetSuite ERP for better financial oversight.</li>\n<li>Increased EBITDA margins to over 10% to signal brand value to investors.</li>\n</ul>\n</li>\n<li>Partnered with Intrepid, a leading M&amp;A firm, to facilitate the sale, targeting both strategic acquirers and private equity firms.</li>\n<li>Negotiated favorable working capital adjustments and structured a deal with 80% upfront payment and 20% equity rollover.</li>\n</ul>\n<h4><strong>Reflections on Selling NewAir</strong></h4>\n<ul>\n<li>Emotional highs: Growing the company during the sale process.</li>\n<li>Emotional lows: Negotiating working capital adjustments and ensuring the deal structure aligned with expectations.</li>\n<li>Decision to sell was influenced by personal goals, market timing, and advice from trusted advisors.</li>\n</ul>\n<hr>\n<h3>Key Takeaways for Entrepreneurs:</h3>\n<ol>\n<li><strong>Focus on Niche Products:</strong> Competing in overlooked product categories can help you avoid direct competition with industry giants.</li>\n<li><strong>Build Systems Early:</strong> Efficient systems and financial transparency are critical for scaling and attracting buyers.</li>\n<li><strong>Team Investment:</strong> Hiring top talent pays off in both growth and eventual exit opportunities.</li>\n<li><strong>Exit Strategy Matters:</strong> Preparing for a sale involves more than profitability—it requires strategic planning, risk mitigation, and investor alignment.</li>\n<li><strong>Advisors Are Key:</strong> Surround yourself with experienced advisors to navigate the complexities of scaling and selling a business.</li>\n</ol>\n<hr>\n<h3>Where to Find Luke Peters:</h3>\n<ul>\n<li><strong>LinkedIn:</strong> <a rel=\"noopener\" href=\"https://www.linkedin.com/in/luke--peters/\"><span>Luke</span><span> Peters</span></a></li>\n<li><strong>YouTube Channel: </strong><a rel=\"noopener\" href=\"https://www.youtube.com/@StrategyByLuke\" style=\"background-color: transparent; font-family: var(--body-font-family); font-size: 1rem;\">Strategy by Luke</a></li>\n</ul>\n<a rel=\"noopener\" href=\"https://www.youtube.com/@StrategyByLuke\"><hr></a><span>If you’re looking to scale or plan your exit, schedule a free call now!</span>",
      "head_html" : null,
      "post_body" : "<p style=\"font-size: 14px;\">Luke Peters started his entrepreneurial journey reselling everyday appliances like bar fridges online. Over time, he built his own brand and transitioned to selling through major e-commerce retailers. By 2022, Luke had grown NewAir into a business generating $80 million in annual revenue before selling it for a life-changing exit.</p>\n<p style=\"font-size: 14px;\">In this episode of <em>Built to Sell Radio</em>, Luke shares key insights, including:</p>\n<ul style=\"font-size: 14px;\">\n<li>How to apply his “10% Rule” to drive growth and efficiency.</li>\n<li>Strategies to de-risk your business and make it attractive to acquirers.</li>\n<li>How to identify and avoid acquirers who aren’t serious or financially capable.</li>\n<li>The critical question every buyer will ask—and how to answer it effectively.</li>\n</ul>\n<p style=\"font-size: 14px;\">Luke’s journey is a masterclass in transforming a small start-up into a valuable, scalable business.</p>\n{% module_block module \"widget_68f6bc73-c34b-4cfa-bc2f-89779b197a97\" %}{% module_attribute \"child_css\" is_json=\"true\" %}null{% end_module_attribute %}{% module_attribute \"css\" is_json=\"true\" %}null{% end_module_attribute %}{% 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Exit</p>\n<!--more-->\n<p><strong>Listen Now:</strong> Tune in to this insightful episode of Built to Sell Radio to learn how Luke Peters turned NewAir into a household name and a success story for entrepreneurs everywhere!</p>\n<hr>\n<h3>Key Highlights:</h3>\n<h4><strong>Founding NewAir: The Bootstrap Journey</strong></h4>\n<ul>\n<li>Luke Peters launched NewAir in 2001, starting from his garage with his wife and nephew.</li>\n<li>Inspired by his brother’s success in e-commerce, he tapped into SEO and targeted niche HVAC products like portable air conditioners and thermostats.</li>\n<li>Early sales involved reselling Granger products online, which later evolved into importing branded products under NewAir.</li>\n</ul>\n<h4><strong>Building a Brand</strong></h4>\n<ul>\n<li>Transitioned from reselling to developing NewAir-branded products.</li>\n<li>Focused on underrepresented product niches like beer fridges and portable appliances, avoiding direct competition with giants like Whirlpool.</li>\n<li>Leveraged SEO tools like Google Trends and SEMrush to identify trending product niches.</li>\n</ul>\n<h4><strong>Scaling Challenges</strong></h4>\n<ul>\n<li>Grew from a garage operation to over seven warehouse moves, managing logistics for up to five containers daily.</li>\n<li>Pivoted from 100% direct-to-consumer to a predominantly B2B model, partnering with big-box retailers like Home Depot, Lowe’s, and Amazon.</li>\n</ul>\n<h4><strong>Financial and Operational Mastery</strong></h4>\n<ul>\n<li>Bootstrapped growth with cash flow and negotiated supplier terms.</li>\n<li>Invested in a proprietary ERP system to streamline operations and scale efficiently.</li>\n<li>Maintained profitability despite industry challenges by focusing on product differentiation and operational efficiency.</li>\n</ul>\n<h4><strong>Exit Preparation</strong></h4>\n<ul>\n<li>Key improvements before selling:\n<ul>\n<li>Built a top-tier management team.</li>\n<li>Transitioned to NetSuite ERP for better financial oversight.</li>\n<li>Increased EBITDA margins to over 10% to signal brand value to investors.</li>\n</ul>\n</li>\n<li>Partnered with Intrepid, a leading M&amp;A firm, to facilitate the sale, targeting both strategic acquirers and private equity firms.</li>\n<li>Negotiated favorable working capital adjustments and structured a deal with 80% upfront payment and 20% equity rollover.</li>\n</ul>\n<h4><strong>Reflections on Selling NewAir</strong></h4>\n<ul>\n<li>Emotional highs: Growing the company during the sale process.</li>\n<li>Emotional lows: Negotiating working capital adjustments and ensuring the deal structure aligned with expectations.</li>\n<li>Decision to sell was influenced by personal goals, market timing, and advice from trusted advisors.</li>\n</ul>\n<hr>\n<h3>Key Takeaways for Entrepreneurs:</h3>\n<ol>\n<li><strong>Focus on Niche Products:</strong> Competing in overlooked product categories can help you avoid direct competition with industry giants.</li>\n<li><strong>Build Systems Early:</strong> Efficient systems and financial transparency are critical for scaling and attracting buyers.</li>\n<li><strong>Team Investment:</strong> Hiring top talent pays off in both growth and eventual exit opportunities.</li>\n<li><strong>Exit Strategy Matters:</strong> Preparing for a sale involves more than profitability—it requires strategic planning, risk mitigation, and investor alignment.</li>\n<li><strong>Advisors Are Key:</strong> Surround yourself with experienced advisors to navigate the complexities of scaling and selling a business.</li>\n</ol>\n<hr>\n<h3>Where to Find Luke Peters:</h3>\n<ul>\n<li><strong>LinkedIn:</strong> <a rel=\"noopener\" href=\"https://www.linkedin.com/in/luke--peters/\"><span>Luke</span><span> Peters</span></a></li>\n<li><strong>YouTube Channel: </strong><a rel=\"noopener\" href=\"https://www.youtube.com/@StrategyByLuke\" style=\"background-color: transparent; font-family: var(--body-font-family); font-size: 1rem;\">Strategy by Luke</a></li>\n</ul>\n<a rel=\"noopener\" href=\"https://www.youtube.com/@StrategyByLuke\"><hr></a><span>If you’re looking to scale or plan your exit, schedule a free call now!</span>",
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    "postBody" : "<p style=\"font-size: 14px;\">Luke Peters started his entrepreneurial journey reselling everyday appliances like bar fridges online. Over time, he built his own brand and transitioned to selling through major e-commerce retailers. By 2022, Luke had grown NewAir into a business generating $80 million in annual revenue before selling it for a life-changing exit.</p>\n<p style=\"font-size: 14px;\">In this episode of <em>Built to Sell Radio</em>, Luke shares key insights, including:</p>\n<ul style=\"font-size: 14px;\">\n<li>How to apply his “10% Rule” to drive growth and efficiency.</li>\n<li>Strategies to de-risk your business and make it attractive to acquirers.</li>\n<li>How to identify and avoid acquirers who aren’t serious or financially capable.</li>\n<li>The critical question every buyer will ask—and how to answer it effectively.</li>\n</ul>\n<p style=\"font-size: 14px;\">Luke’s journey is a masterclass in transforming a small start-up into a valuable, scalable business.</p>\n{% module_block module \"widget_68f6bc73-c34b-4cfa-bc2f-89779b197a97\" %}{% module_attribute \"child_css\" is_json=\"true\" %}null{% end_module_attribute %}{% module_attribute \"css\" is_json=\"true\" %}null{% end_module_attribute %}{% module_attribute \"label\" is_json=\"true\" %}null{% end_module_attribute %}{% module_attribute \"module_id\" is_json=\"true\" %}180100466200{% end_module_attribute %}{% module_attribute \"schema_version\" is_json=\"true\" %}2{% end_module_attribute %}{% module_attribute \"tag\" is_json=\"true\" %}\"module\"{% end_module_attribute %}{% module_attribute \"video_thumbnail_image\" is_json=\"true\" %}{\"size_type\":\"auto\",\"src\":\"https://47205836.fs1.hubspotusercontent-na1.net/hubfs/47205836/thumbnail%20(2).jpeg\",\"alt\":\"\",\"loading\":\"lazy\",\"width\":1280,\"height\":720,\"max_width\":1280,\"max_height\":720}{% end_module_attribute %}{% module_attribute \"youtube_video_id\" is_json=\"true\" %}\"7gu0KxnUtUA\"{% end_module_attribute %}{% end_module_block %}\n<hr>\n<h3>Episode Notes: Built to Sell Radio with Luke Peters</h3>\n<p><strong>Host:</strong> John Warrillow<br><strong>Episode Topic:</strong> From Bootstrap to $80 Million – Scaling NewAir and Preparing for a Successful Exit</p>\n<!--more-->\n<p><strong>Listen Now:</strong> Tune in to this insightful episode of Built to Sell Radio to learn how Luke Peters turned NewAir into a household name and a success story for entrepreneurs everywhere!</p>\n<hr>\n<h3>Key Highlights:</h3>\n<h4><strong>Founding NewAir: The Bootstrap Journey</strong></h4>\n<ul>\n<li>Luke Peters launched NewAir in 2001, starting from his garage with his wife and nephew.</li>\n<li>Inspired by his brother’s success in e-commerce, he tapped into SEO and targeted niche HVAC products like portable air conditioners and thermostats.</li>\n<li>Early sales involved reselling Granger products online, which later evolved into importing branded products under NewAir.</li>\n</ul>\n<h4><strong>Building a Brand</strong></h4>\n<ul>\n<li>Transitioned from reselling to developing NewAir-branded products.</li>\n<li>Focused on underrepresented product niches like beer fridges and portable appliances, avoiding direct competition with giants like Whirlpool.</li>\n<li>Leveraged SEO tools like Google Trends and SEMrush to identify trending product niches.</li>\n</ul>\n<h4><strong>Scaling Challenges</strong></h4>\n<ul>\n<li>Grew from a garage operation to over seven warehouse moves, managing logistics for up to five containers daily.</li>\n<li>Pivoted from 100% direct-to-consumer to a predominantly B2B model, partnering with big-box retailers like Home Depot, Lowe’s, and Amazon.</li>\n</ul>\n<h4><strong>Financial and Operational Mastery</strong></h4>\n<ul>\n<li>Bootstrapped growth with cash flow and negotiated supplier terms.</li>\n<li>Invested in a proprietary ERP system to streamline operations and scale efficiently.</li>\n<li>Maintained profitability despite industry challenges by focusing on product differentiation and operational efficiency.</li>\n</ul>\n<h4><strong>Exit Preparation</strong></h4>\n<ul>\n<li>Key improvements before selling:\n<ul>\n<li>Built a top-tier management team.</li>\n<li>Transitioned to NetSuite ERP for better financial oversight.</li>\n<li>Increased EBITDA margins to over 10% to signal brand value to investors.</li>\n</ul>\n</li>\n<li>Partnered with Intrepid, a leading M&amp;A firm, to facilitate the sale, targeting both strategic acquirers and private equity firms.</li>\n<li>Negotiated favorable working capital adjustments and structured a deal with 80% upfront payment and 20% equity rollover.</li>\n</ul>\n<h4><strong>Reflections on Selling NewAir</strong></h4>\n<ul>\n<li>Emotional highs: Growing the company during the sale process.</li>\n<li>Emotional lows: Negotiating working capital adjustments and ensuring the deal structure aligned with expectations.</li>\n<li>Decision to sell was influenced by personal goals, market timing, and advice from trusted advisors.</li>\n</ul>\n<hr>\n<h3>Key Takeaways for Entrepreneurs:</h3>\n<ol>\n<li><strong>Focus on Niche Products:</strong> Competing in overlooked product categories can help you avoid direct competition with industry giants.</li>\n<li><strong>Build Systems Early:</strong> Efficient systems and financial transparency are critical for scaling and attracting buyers.</li>\n<li><strong>Team Investment:</strong> Hiring top talent pays off in both growth and eventual exit opportunities.</li>\n<li><strong>Exit Strategy Matters:</strong> Preparing for a sale involves more than profitability—it requires strategic planning, risk mitigation, and investor alignment.</li>\n<li><strong>Advisors Are Key:</strong> Surround yourself with experienced advisors to navigate the complexities of scaling and selling a business.</li>\n</ol>\n<hr>\n<h3>Where to Find Luke Peters:</h3>\n<ul>\n<li><strong>LinkedIn:</strong> <a rel=\"noopener\" href=\"https://www.linkedin.com/in/luke--peters/\"><span>Luke</span><span> Peters</span></a></li>\n<li><strong>YouTube Channel: </strong><a rel=\"noopener\" href=\"https://www.youtube.com/@StrategyByLuke\" style=\"background-color: transparent; font-family: var(--body-font-family); font-size: 1rem;\">Strategy by Luke</a></li>\n</ul>\n<a rel=\"noopener\" href=\"https://www.youtube.com/@StrategyByLuke\"><hr></a><span>If you’re looking to scale or plan your exit, schedule a free call now!</span>",
    "postBodyRss" : "<p style=\"font-size: 14px;\">Luke Peters started his entrepreneurial journey reselling everyday appliances like bar fridges online. Over time, he built his own brand and transitioned to selling through major e-commerce retailers. By 2022, Luke had grown NewAir into a business generating $80 million in annual revenue before selling it for a life-changing exit.</p>\n<p style=\"font-size: 14px;\">In this episode of <em>Built to Sell Radio</em>, Luke shares key insights, including:</p>\n<ul style=\"font-size: 14px;\">\n<li>How to apply his “10% Rule” to drive growth and efficiency.</li>\n<li>Strategies to de-risk your business and make it attractive to acquirers.</li>\n<li>How to identify and avoid acquirers who aren’t serious or financially capable.</li>\n<li>The critical question every buyer will ask—and how to answer it effectively.</li>\n</ul>\n<p style=\"font-size: 14px;\">Luke’s journey is a masterclass in transforming a small start-up into a valuable, scalable business.</p>\n{% module_block module \"widget_68f6bc73-c34b-4cfa-bc2f-89779b197a97\" %}{% module_attribute \"child_css\" is_json=\"true\" %}null{% end_module_attribute %}{% module_attribute \"css\" is_json=\"true\" %}null{% end_module_attribute %}{% module_attribute \"label\" is_json=\"true\" %}null{% end_module_attribute %}{% module_attribute \"module_id\" is_json=\"true\" %}180100466200{% end_module_attribute %}{% module_attribute \"schema_version\" is_json=\"true\" %}2{% end_module_attribute %}{% module_attribute \"tag\" is_json=\"true\" %}\"module\"{% end_module_attribute %}{% module_attribute \"video_thumbnail_image\" is_json=\"true\" %}{\"size_type\":\"auto\",\"src\":\"https://47205836.fs1.hubspotusercontent-na1.net/hubfs/47205836/thumbnail%20(2).jpeg\",\"alt\":\"\",\"loading\":\"lazy\",\"width\":1280,\"height\":720,\"max_width\":1280,\"max_height\":720}{% end_module_attribute %}{% module_attribute \"youtube_video_id\" is_json=\"true\" %}\"7gu0KxnUtUA\"{% end_module_attribute %}{% end_module_block %}\n<hr>\n<h3>Episode Notes: Built to Sell Radio with Luke Peters</h3>\n<p><strong>Host:</strong> John Warrillow<br><strong>Episode Topic:</strong> From Bootstrap to $80 Million – Scaling NewAir and Preparing for a Successful Exit</p>\n<!--more-->\n<p><strong>Listen Now:</strong> Tune in to this insightful episode of Built to Sell Radio to learn how Luke Peters turned NewAir into a household name and a success story for entrepreneurs everywhere!</p>\n<hr>\n<h3>Key Highlights:</h3>\n<h4><strong>Founding NewAir: The Bootstrap Journey</strong></h4>\n<ul>\n<li>Luke Peters launched NewAir in 2001, starting from his garage with his wife and nephew.</li>\n<li>Inspired by his brother’s success in e-commerce, he tapped into SEO and targeted niche HVAC products like portable air conditioners and thermostats.</li>\n<li>Early sales involved reselling Granger products online, which later evolved into importing branded products under NewAir.</li>\n</ul>\n<h4><strong>Building a Brand</strong></h4>\n<ul>\n<li>Transitioned from reselling to developing NewAir-branded products.</li>\n<li>Focused on underrepresented product niches like beer fridges and portable appliances, avoiding direct competition with giants like Whirlpool.</li>\n<li>Leveraged SEO tools like Google Trends and SEMrush to identify trending product niches.</li>\n</ul>\n<h4><strong>Scaling Challenges</strong></h4>\n<ul>\n<li>Grew from a garage operation to over seven warehouse moves, managing logistics for up to five containers daily.</li>\n<li>Pivoted from 100% direct-to-consumer to a predominantly B2B model, partnering with big-box retailers like Home Depot, Lowe’s, and Amazon.</li>\n</ul>\n<h4><strong>Financial and Operational Mastery</strong></h4>\n<ul>\n<li>Bootstrapped growth with cash flow and negotiated supplier terms.</li>\n<li>Invested in a proprietary ERP system to streamline operations and scale efficiently.</li>\n<li>Maintained profitability despite industry challenges by focusing on product differentiation and operational efficiency.</li>\n</ul>\n<h4><strong>Exit Preparation</strong></h4>\n<ul>\n<li>Key improvements before selling:\n<ul>\n<li>Built a top-tier management team.</li>\n<li>Transitioned to NetSuite ERP for better financial oversight.</li>\n<li>Increased EBITDA margins to over 10% to signal brand value to investors.</li>\n</ul>\n</li>\n<li>Partnered with Intrepid, a leading M&amp;A firm, to facilitate the sale, targeting both strategic acquirers and private equity firms.</li>\n<li>Negotiated favorable working capital adjustments and structured a deal with 80% upfront payment and 20% equity rollover.</li>\n</ul>\n<h4><strong>Reflections on Selling NewAir</strong></h4>\n<ul>\n<li>Emotional highs: Growing the company during the sale process.</li>\n<li>Emotional lows: Negotiating working capital adjustments and ensuring the deal structure aligned with expectations.</li>\n<li>Decision to sell was influenced by personal goals, market timing, and advice from trusted advisors.</li>\n</ul>\n<hr>\n<h3>Key Takeaways for Entrepreneurs:</h3>\n<ol>\n<li><strong>Focus on Niche Products:</strong> Competing in overlooked product categories can help you avoid direct competition with industry giants.</li>\n<li><strong>Build Systems Early:</strong> Efficient systems and financial transparency are critical for scaling and attracting buyers.</li>\n<li><strong>Team Investment:</strong> Hiring top talent pays off in both growth and eventual exit opportunities.</li>\n<li><strong>Exit Strategy Matters:</strong> Preparing for a sale involves more than profitability—it requires strategic planning, risk mitigation, and investor alignment.</li>\n<li><strong>Advisors Are Key:</strong> Surround yourself with experienced advisors to navigate the complexities of scaling and selling a business.</li>\n</ol>\n<hr>\n<h3>Where to Find Luke Peters:</h3>\n<ul>\n<li><strong>LinkedIn:</strong> <a rel=\"noopener\" href=\"https://www.linkedin.com/in/luke--peters/\"><span>Luke</span><span> Peters</span></a></li>\n<li><strong>YouTube Channel: </strong><a rel=\"noopener\" href=\"https://www.youtube.com/@StrategyByLuke\" style=\"background-color: transparent; font-family: var(--body-font-family); font-size: 1rem;\">Strategy by Luke</a></li>\n</ul>\n<a rel=\"noopener\" href=\"https://www.youtube.com/@StrategyByLuke\"><hr></a><span>If you’re looking to scale or plan your exit, schedule a free call now!</span>",
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    "rssBody" : "<p style=\"font-size: 14px;\">Luke Peters started his entrepreneurial journey reselling everyday appliances like bar fridges online. Over time, he built his own brand and transitioned to selling through major e-commerce retailers. By 2022, Luke had grown NewAir into a business generating $80 million in annual revenue before selling it for a life-changing exit.</p>\n<p style=\"font-size: 14px;\">In this episode of <em>Built to Sell Radio</em>, Luke shares key insights, including:</p>\n<ul style=\"font-size: 14px;\">\n<li>How to apply his “10% Rule” to drive growth and efficiency.</li>\n<li>Strategies to de-risk your business and make it attractive to acquirers.</li>\n<li>How to identify and avoid acquirers who aren’t serious or financially capable.</li>\n<li>The critical question every buyer will ask—and how to answer it effectively.</li>\n</ul>\n<p style=\"font-size: 14px;\">Luke’s journey is a masterclass in transforming a small start-up into a valuable, scalable business.</p>\n{% module_block module \"widget_68f6bc73-c34b-4cfa-bc2f-89779b197a97\" %}{% module_attribute \"child_css\" is_json=\"true\" %}null{% end_module_attribute %}{% module_attribute \"css\" is_json=\"true\" %}null{% end_module_attribute %}{% module_attribute \"label\" is_json=\"true\" %}null{% end_module_attribute %}{% module_attribute \"module_id\" is_json=\"true\" %}180100466200{% end_module_attribute %}{% module_attribute \"schema_version\" is_json=\"true\" %}2{% end_module_attribute %}{% module_attribute \"tag\" is_json=\"true\" %}\"module\"{% end_module_attribute %}{% module_attribute \"video_thumbnail_image\" is_json=\"true\" %}{\"size_type\":\"auto\",\"src\":\"https://47205836.fs1.hubspotusercontent-na1.net/hubfs/47205836/thumbnail%20(2).jpeg\",\"alt\":\"\",\"loading\":\"lazy\",\"width\":1280,\"height\":720,\"max_width\":1280,\"max_height\":720}{% end_module_attribute %}{% module_attribute \"youtube_video_id\" is_json=\"true\" %}\"7gu0KxnUtUA\"{% end_module_attribute %}{% end_module_block %}\n<hr>\n<h3>Episode Notes: Built to Sell Radio with Luke Peters</h3>\n<p><strong>Host:</strong> John Warrillow<br><strong>Episode Topic:</strong> From Bootstrap to $80 Million – Scaling NewAir and Preparing for a Successful Exit</p>\n<!--more-->\n<p><strong>Listen Now:</strong> Tune in to this insightful episode of Built to Sell Radio to learn how Luke Peters turned NewAir into a household name and a success story for entrepreneurs everywhere!</p>\n<hr>\n<h3>Key Highlights:</h3>\n<h4><strong>Founding NewAir: The Bootstrap Journey</strong></h4>\n<ul>\n<li>Luke Peters launched NewAir in 2001, starting from his garage with his wife and nephew.</li>\n<li>Inspired by his brother’s success in e-commerce, he tapped into SEO and targeted niche HVAC products like portable air conditioners and thermostats.</li>\n<li>Early sales involved reselling Granger products online, which later evolved into importing branded products under NewAir.</li>\n</ul>\n<h4><strong>Building a Brand</strong></h4>\n<ul>\n<li>Transitioned from reselling to developing NewAir-branded products.</li>\n<li>Focused on underrepresented product niches like beer fridges and portable appliances, avoiding direct competition with giants like Whirlpool.</li>\n<li>Leveraged SEO tools like Google Trends and SEMrush to identify trending product niches.</li>\n</ul>\n<h4><strong>Scaling Challenges</strong></h4>\n<ul>\n<li>Grew from a garage operation to over seven warehouse moves, managing logistics for up to five containers daily.</li>\n<li>Pivoted from 100% direct-to-consumer to a predominantly B2B model, partnering with big-box retailers like Home Depot, Lowe’s, and Amazon.</li>\n</ul>\n<h4><strong>Financial and Operational Mastery</strong></h4>\n<ul>\n<li>Bootstrapped growth with cash flow and negotiated supplier terms.</li>\n<li>Invested in a proprietary ERP system to streamline operations and scale efficiently.</li>\n<li>Maintained profitability despite industry challenges by focusing on product differentiation and operational efficiency.</li>\n</ul>\n<h4><strong>Exit Preparation</strong></h4>\n<ul>\n<li>Key improvements before selling:\n<ul>\n<li>Built a top-tier management team.</li>\n<li>Transitioned to NetSuite ERP for better financial oversight.</li>\n<li>Increased EBITDA margins to over 10% to signal brand value to investors.</li>\n</ul>\n</li>\n<li>Partnered with Intrepid, a leading M&amp;A firm, to facilitate the sale, targeting both strategic acquirers and private equity firms.</li>\n<li>Negotiated favorable working capital adjustments and structured a deal with 80% upfront payment and 20% equity rollover.</li>\n</ul>\n<h4><strong>Reflections on Selling NewAir</strong></h4>\n<ul>\n<li>Emotional highs: Growing the company during the sale process.</li>\n<li>Emotional lows: Negotiating working capital adjustments and ensuring the deal structure aligned with expectations.</li>\n<li>Decision to sell was influenced by personal goals, market timing, and advice from trusted advisors.</li>\n</ul>\n<hr>\n<h3>Key Takeaways for Entrepreneurs:</h3>\n<ol>\n<li><strong>Focus on Niche Products:</strong> Competing in overlooked product categories can help you avoid direct competition with industry giants.</li>\n<li><strong>Build Systems Early:</strong> Efficient systems and financial transparency are critical for scaling and attracting buyers.</li>\n<li><strong>Team Investment:</strong> Hiring top talent pays off in both growth and eventual exit opportunities.</li>\n<li><strong>Exit Strategy Matters:</strong> Preparing for a sale involves more than profitability—it requires strategic planning, risk mitigation, and investor alignment.</li>\n<li><strong>Advisors Are Key:</strong> Surround yourself with experienced advisors to navigate the complexities of scaling and selling a business.</li>\n</ol>\n<hr>\n<h3>Where to Find Luke Peters:</h3>\n<ul>\n<li><strong>LinkedIn:</strong> <a rel=\"noopener\" href=\"https://www.linkedin.com/in/luke--peters/\"><span>Luke</span><span> Peters</span></a></li>\n<li><strong>YouTube Channel: </strong><a rel=\"noopener\" href=\"https://www.youtube.com/@StrategyByLuke\" style=\"background-color: transparent; font-family: var(--body-font-family); 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  [![](https://www.apexceo.co/hs-fs/hubfs/thumbnail%20(2).jpeg?width=352&name=thumbnail%20(2).jpeg)](https://www.apexceo.co/blog/built-to-sell-radio)
  
  ### [Built to Sell Radio](https://www.apexceo.co/blog/built-to-sell-radio)
  
    - Dec 12, 2024, 6:19:50 PM
- ```
  
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    "postBody" : "<p style=\"font-size: 14px;\">On this episode of <em>The Business of Story</em>, Luke Peters shares his journey of taking NewAir from a garage startup to over $600 million in cumulative sales and executing a successful exit. 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He explains the critical role of brand storytelling in achieving his company’s success and how he leveraged it for a highly profitable exit. Luke now coaches other entrepreneurs to scale their businesses, improve operations, and prepare for successful exits.</p>\n<hr>\n<h3><strong>Key Highlights:</strong></h3>\n<ol>\n<li>\n<p><strong>Luke’s Entrepreneurial Journey:</strong></p>\n<ul>\n<li>Started NewAir in 2001 in his garage, selling compact appliances like wine coolers and air conditioners.</li>\n<li>Pivoted from direct-to-consumer sales to a multi-channel strategy, partnering with retailers like Home Depot and Amazon.</li>\n<li>Grew the company to $80M in annual revenue and successfully exited the business.</li>\n</ul>\n</li>\n<li>\n<p><strong>Importance of Brand Storytelling:</strong></p>\n<ul>\n<li>A strong brand narrative creates trust and differentiates your products in a competitive marketplace.</li>\n<li>Leveraged influencer marketing and reviews to build brand credibility and attract customers.</li>\n<li>Brand storytelling was a critical component of NewAir's valuation during the acquisition process.</li>\n</ul>\n</li>\n<li>\n<p><strong>Key Challenges Overcome:</strong></p>\n<ul>\n<li>Navigating the 2008 financial crisis and a significant business model pivot.</li>\n<li>Managing operational disruptions during warehouse transitions.</li>\n<li>Balancing personal and professional commitments during high-stress business events.</li>\n</ul>\n</li>\n<li>\n<p><strong>Lessons for Entrepreneurs:</strong></p>\n<ul>\n<li>Start planning your exit strategy early, even if it feels premature.</li>\n<li>Focus on maintaining strong profit margins and a scalable business model.</li>\n<li>Build a high-performing team and incentivize key players for the long term.</li>\n<li>Invest in excellent financial systems and maintain clean, auditable records.</li>\n</ul>\n</li>\n</ol>\n<hr>\n<h3><strong>Key Takeaways:</strong></h3>\n<ul>\n<li><strong>Plan for the Exit:</strong> Begin positioning your business for a sale long before you're ready to exit. Build a strong brand, scalable systems, and consistent profitability.</li>\n<li><strong>The Role of Influencer Marketing:</strong> Partnering with YouTube creators helped NewAir expand its reach, build trust, and drive sales.</li>\n<li><strong>Value of Financial Transparency:</strong> Clean, detailed financial records and understanding \"add-backs\" significantly impact a company’s valuation.</li>\n<li><strong>Empower Your Team:</strong> Hire A-players and align them with the company's strategic goals to ensure the business operates effectively without being overly dependent on the founder.</li>\n</ul>\n<hr>\n<h3><strong>Final Thoughts:</strong></h3>\n<p>Luke emphasizes the importance of creating a business that aligns with personal goals while remaining scalable and valuable to potential buyers. His experience demonstrates that successful entrepreneurship requires adaptability, strategic planning, and a focus on the long game.</p>\n<hr>\n<p style=\"font-size: 24px;\"><strong>Connect with Luke Peters:</strong><a rel=\"noopener\" target=\"_new\" href=\"https://www.apexceo.co\"><span></span></a></p>\n<ul>\n<li><span style=\"font-weight: bold;\">LinkedIn:</span> <a rel=\"noopener\" target=\"_new\" href=\"https://www.linkedin.com/in/luke--peters/\"><span>Luke</span><span> Peters</span></a></li>\n<li><strong>YouTube Channel:<span>&nbsp;</span></strong><a rel=\"noopener\" href=\"https://www.youtube.com/@StrategyByLuke\">Strategy by Luke</a><br><span></span></li>\n</ul>\n<p><span>If you’re looking to scale or plan your exit, schedule a free call now!</span></p>",
    "postBodyRss" : "<p style=\"font-size: 14px;\">On this episode of <em>The Business of Story</em>, Luke Peters shares his journey of taking NewAir from a garage startup to over $600 million in cumulative sales and executing a successful exit. 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Build a strong brand, scalable systems, and consistent profitability.</li>\n<li><strong>The Role of Influencer Marketing:</strong> Partnering with YouTube creators helped NewAir expand its reach, build trust, and drive sales.</li>\n<li><strong>Value of Financial Transparency:</strong> Clean, detailed financial records and understanding \"add-backs\" significantly impact a company’s valuation.</li>\n<li><strong>Empower Your Team:</strong> Hire A-players and align them with the company's strategic goals to ensure the business operates effectively without being overly dependent on the founder.</li>\n</ul>\n<hr>\n<h3><strong>Final Thoughts:</strong></h3>\n<p>Luke emphasizes the importance of creating a business that aligns with personal goals while remaining scalable and valuable to potential buyers. 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    "rssBody" : "<p style=\"font-size: 14px;\">On this episode of <em>The Business of Story</em>, Luke Peters shares his journey of taking NewAir from a garage startup to over $600 million in cumulative sales and executing a successful exit. 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Luke now coaches other entrepreneurs to scale their businesses, improve operations, and prepare for successful exits.</p>\n<hr>\n<h3><strong>Key Highlights:</strong></h3>\n<ol>\n<li>\n<p><strong>Luke’s Entrepreneurial Journey:</strong></p>\n<ul>\n<li>Started NewAir in 2001 in his garage, selling compact appliances like wine coolers and air conditioners.</li>\n<li>Pivoted from direct-to-consumer sales to a multi-channel strategy, partnering with retailers like Home Depot and Amazon.</li>\n<li>Grew the company to $80M in annual revenue and successfully exited the business.</li>\n</ul>\n</li>\n<li>\n<p><strong>Importance of Brand Storytelling:</strong></p>\n<ul>\n<li>A strong brand narrative creates trust and differentiates your products in a competitive marketplace.</li>\n<li>Leveraged influencer marketing and reviews to build brand credibility and attract customers.</li>\n<li>Brand storytelling was a critical component of NewAir's valuation during the acquisition process.</li>\n</ul>\n</li>\n<li>\n<p><strong>Key Challenges Overcome:</strong></p>\n<ul>\n<li>Navigating the 2008 financial crisis and a significant business model pivot.</li>\n<li>Managing operational disruptions during warehouse transitions.</li>\n<li>Balancing personal and professional commitments during high-stress business events.</li>\n</ul>\n</li>\n<li>\n<p><strong>Lessons for Entrepreneurs:</strong></p>\n<ul>\n<li>Start planning your exit strategy early, even if it feels premature.</li>\n<li>Focus on maintaining strong profit margins and a scalable business model.</li>\n<li>Build a high-performing team and incentivize key players for the long term.</li>\n<li>Invest in excellent financial systems and maintain clean, auditable records.</li>\n</ul>\n</li>\n</ol>\n<hr>\n<h3><strong>Key Takeaways:</strong></h3>\n<ul>\n<li><strong>Plan for the Exit:</strong> Begin positioning your business for a sale long before you're ready to exit. Build a strong brand, scalable systems, and consistent profitability.</li>\n<li><strong>The Role of Influencer Marketing:</strong> Partnering with YouTube creators helped NewAir expand its reach, build trust, and drive sales.</li>\n<li><strong>Value of Financial Transparency:</strong> Clean, detailed financial records and understanding \"add-backs\" significantly impact a company’s valuation.</li>\n<li><strong>Empower Your Team:</strong> Hire A-players and align them with the company's strategic goals to ensure the business operates effectively without being overly dependent on the founder.</li>\n</ul>\n<hr>\n<h3><strong>Final Thoughts:</strong></h3>\n<p>Luke emphasizes the importance of creating a business that aligns with personal goals while remaining scalable and valuable to potential buyers. His experience demonstrates that successful entrepreneurship requires adaptability, strategic planning, and a focus on the long game.</p>\n<hr>\n<p style=\"font-size: 24px;\"><strong>Connect with Luke Peters:</strong><a rel=\"noopener\" target=\"_new\" href=\"https://www.apexceo.co\"><span></span></a></p>\n<ul>\n<li><span style=\"font-weight: bold;\">LinkedIn:</span> <a rel=\"noopener\" target=\"_new\" href=\"https://www.linkedin.com/in/luke--peters/\"><span>Luke</span><span> Peters</span></a></li>\n<li><strong>YouTube Channel:<span>&nbsp;</span></strong><a rel=\"noopener\" href=\"https://www.youtube.com/@StrategyByLuke\">Strategy by Luke</a><br><span></span></li>\n</ul>\n<p><span>If you’re looking to scale or plan your exit, schedule a free call now!</span></p>",
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  [![](https://www.apexceo.co/hs-fs/hubfs/Luke-Peters-Horizontal.jpg?width=352&name=Luke-Peters-Horizontal.jpg)](https://www.apexceo.co/blog/the-business-of-story)
  
  ### [The Business of Story](https://www.apexceo.co/blog/the-business-of-story)
  
    - Dec 15, 2024, 6:17:45 AM
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      "post_body" : "<p style=\"font-size: 14px;\">On this episode of <em>The Chris Voss Show</em>, Luke Peters shares his entrepreneurial journey—from working in his family’s donut shop to building NewAir into a multi-million-dollar company. As the former CEO of NewAir, Luke dives into the challenges of scaling a business from scratch without funding and the strategies that helped him achieve a successful exit.</p>\n<!--more-->\n<p style=\"font-size: 14px;\">Key topics include:</p>\n<ul style=\"font-size: 14px;\">\n<li>Transitioning from a direct-to-consumer model to a multi-channel strategy with major partners like Home Depot and Amazon.</li>\n<li>The critical role of understanding margins and aligning products to maximize profitability.</li>\n<li>Luke’s practical framework for CEOs to identify the right priorities and solve the problems that drive real growth.</li>\n</ul>\n<p style=\"font-size: 14px;\">Whether you’re starting out or leading a growing business, Luke’s insights are packed with actionable advice for scaling effectively and preparing for a successful exit.</p>\n<p style=\"font-size: 14px;\">Catch the full conversation for a masterclass in entrepreneurship that can transform the way you approach your business.</p>\n<p style=\"font-size: 14px;\">Don't forget to subscribe, review, and share this episode with fellow entrepreneurs!</p>\n{% module_block module \"widget_946fd224-5456-42eb-83c6-be0fbf2b1117\" %}{% module_attribute \"child_css\" is_json=\"true\" %}{% raw %}{}{% end_module_attribute %}{% module_attribute \"css\" is_json=\"true\" %}{}{% end_module_attribute %}{% module_attribute \"definition_id\" is_json=\"true\" %}null{% end_module_attribute %}{% module_attribute \"field_types\" is_json=\"true\" %}{\"video_thumbnail_image\":\"image\",\"youtube_video_id\":\"text\"}{% end_module_attribute %}{% module_attribute \"label\" is_json=\"true\" %}null{% end_module_attribute %}{% module_attribute \"module_id\" is_json=\"true\" %}180100466200{% end_module_attribute %}{% module_attribute \"path\" is_json=\"true\" %}\"/apex/modules/video_thumbnail_module_local\"{% end_module_attribute %}{% module_attribute \"schema_version\" is_json=\"true\" %}2{% end_module_attribute %}{% 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14px;\"><strong>Host:&nbsp;</strong><span style=\"font-weight: normal;\">Chris Voss</span></h4>\n<p style=\"font-size: 14px;\">Luke Peters, accomplished entrepreneur, former CEO of NewAir, and current CEO coach at Apex CEO.</p>\n<hr>\n<h4><strong>Episode Highlights:</strong></h4>\n<ol>\n<li>\n<p><strong>Luke’s Journey:</strong></p>\n<ul>\n<li>Founded NewAir in 2001, starting from a garage-based operation.</li>\n<li>Scaled NewAir to $600M in cumulative sales and $80M in annual revenue.</li>\n<li>Successfully sold the company to private equity, retaining 100% equity.</li>\n</ul>\n</li>\n<li>\n<p><strong>Building a Business from Scratch:</strong></p>\n<ul>\n<li>Luke's entrepreneurial roots began with family-owned businesses and service-based ventures.</li>\n<li>Key lessons learned from scaling NewAir: building systems, improving margins, and hiring top talent.</li>\n</ul>\n</li>\n<li>\n<p><strong>Preparing for a Business Exit:</strong></p>\n<ul>\n<li>Importance of “de-risking” a business for potential buyers.</li>\n<li>Key factors in increasing valuation:\n<ul>\n<li>Higher profit margins.</li>\n<li>Diversified customer base.</li>\n<li>Strong management team.</li>\n<li>Founder independence from daily operations.</li>\n</ul>\n</li>\n<li>Private equity valuations and how earnings multiples increase with scale.</li>\n</ul>\n</li>\n<li>\n<p><strong>A Framework for Business Success:</strong></p>\n<ul>\n<li>Luke’s APM Framework:\n<ul>\n<li><strong>Alignment:</strong> Clear communication and team buy-in on strategic goals.</li>\n<li><strong>Product:</strong> Constant innovation, evaluating product performance, and focusing on top winners.</li>\n<li><strong>People:</strong> Building a team of top performers who align with company goals.</li>\n<li><strong>Margins:</strong> Understanding and improving profit margins at a granular level.</li>\n</ul>\n</li>\n</ul>\n</li>\n<li>\n<p><strong>Key Advice for Entrepreneurs:</strong></p>\n<ul>\n<li>Always be prepared to sell your business—even if you don’t plan to.</li>\n<li>Focus on long-term strategy and planning, not just daily operations.</li>\n<li>Surround yourself with the right people and stay adaptable to market changes.</li>\n</ul>\n</li>\n<li>\n<p><strong>The Mental Game of Entrepreneurship:</strong></p>\n<ul>\n<li>Managing stress and staying logical under pressure.</li>\n<li>Building resilience to navigate business challenges.</li>\n</ul>\n</li>\n<li>\n<p><strong>Future Goals:</strong></p>\n<ul>\n<li>Luke’s work at Apex CEO focuses on coaching founder-CEOs in scaling their businesses and preparing for successful exits.</li>\n</ul>\n</li>\n</ol>\n<hr>\n<h4><strong>Key Takeaways:</strong></h4>\n<ul>\n<li>Prioritize strategic planning to avoid burnout and keep the business growth-focused.</li>\n<li>Develop a product and people strategy that aligns with your vision.</li>\n<li>Prepare for an exit by building systems, improving margins, and diversifying risk.</li>\n</ul>\n<hr>\n<h4><strong>Final Thoughts from Luke:</strong></h4>\n<p>\"De-risk your business, focus on your strengths, and surround yourself with the right team. Success is not just about working hard but working smart.\"</p>\n<hr>\n<h4><strong>Connect with Luke Peters:</strong><a rel=\"noopener\" target=\"_new\" href=\"https://apexceo.co\"><span></span></a></h4>\n<ul>\n<li><strong>LinkedIn:</strong> <a rel=\"noopener\" target=\"_new\" href=\"https://www.linkedin.com/in/luke--peters\"><span>Luke</span><span> Peters</span></a></li>\n<li><strong>YouTube Channel:<span>&nbsp;</span></strong><a rel=\"noopener\" href=\"https://www.youtube.com/@StrategyByLuke\">Strategy by Luke</a><br><span></span></li>\n</ul>\n<hr>\n<h4><strong>Free Strategy Call:</strong></h4>\n<ul>\n<li>Visit the homepage for a free strategy call and receive a complimentary business planning document.</li>\n</ul>",
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      "rss_body" : "<p style=\"font-size: 14px;\">On this episode of <em>The Chris Voss Show</em>, Luke Peters shares his entrepreneurial journey—from working in his family’s donut shop to building NewAir into a multi-million-dollar company. As the former CEO of NewAir, Luke dives into the challenges of scaling a business from scratch without funding and the strategies that helped him achieve a successful exit.</p>\n<!--more-->\n<p style=\"font-size: 14px;\">Key topics include:</p>\n<ul style=\"font-size: 14px;\">\n<li>Transitioning from a direct-to-consumer model to a multi-channel strategy with major partners like Home Depot and Amazon.</li>\n<li>The critical role of understanding margins and aligning products to maximize profitability.</li>\n<li>Luke’s practical framework for CEOs to identify the right priorities and solve the problems that drive real growth.</li>\n</ul>\n<p style=\"font-size: 14px;\">Whether you’re starting out or leading a growing business, Luke’s insights are packed with actionable advice for scaling effectively and preparing for a successful exit.</p>\n<p style=\"font-size: 14px;\">Catch the full conversation for a masterclass in entrepreneurship that can transform the way you approach your business.</p>\n<p style=\"font-size: 14px;\">Don't forget to subscribe, review, and share this episode with fellow entrepreneurs!</p>\n{% module_block module \"widget_946fd224-5456-42eb-83c6-be0fbf2b1117\" %}{% module_attribute \"child_css\" is_json=\"true\" %}{}{% end_module_attribute %}{% module_attribute \"css\" is_json=\"true\" %}{}{% end_module_attribute %}{% module_attribute \"definition_id\" is_json=\"true\" %}null{% end_module_attribute %}{% module_attribute \"field_types\" is_json=\"true\" %}{\"video_thumbnail_image\":\"image\",\"youtube_video_id\":\"text\"}{% end_module_attribute %}{% module_attribute \"label\" is_json=\"true\" %}null{% end_module_attribute %}{% module_attribute \"module_id\" is_json=\"true\" %}180100466200{% end_module_attribute %}{% module_attribute \"path\" is_json=\"true\" %}\"/apex/modules/video_thumbnail_module_local\"{% end_module_attribute %}{% module_attribute \"schema_version\" is_json=\"true\" %}2{% end_module_attribute %}{% module_attribute 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style=\"font-weight: normal;\">Chris Voss</span></h4>\n<p style=\"font-size: 14px;\">Luke Peters, accomplished entrepreneur, former CEO of NewAir, and current CEO coach at Apex CEO.</p>\n<hr>\n<h4><strong>Episode Highlights:</strong></h4>\n<ol>\n<li>\n<p><strong>Luke’s Journey:</strong></p>\n<ul>\n<li>Founded NewAir in 2001, starting from a garage-based operation.</li>\n<li>Scaled NewAir to $600M in cumulative sales and $80M in annual revenue.</li>\n<li>Successfully sold the company to private equity, retaining 100% equity.</li>\n</ul>\n</li>\n<li>\n<p><strong>Building a Business from Scratch:</strong></p>\n<ul>\n<li>Luke's entrepreneurial roots began with family-owned businesses and service-based ventures.</li>\n<li>Key lessons learned from scaling NewAir: building systems, improving margins, and hiring top talent.</li>\n</ul>\n</li>\n<li>\n<p><strong>Preparing for a Business Exit:</strong></p>\n<ul>\n<li>Importance of “de-risking” a business for potential buyers.</li>\n<li>Key factors in increasing valuation:\n<ul>\n<li>Higher profit margins.</li>\n<li>Diversified customer base.</li>\n<li>Strong management team.</li>\n<li>Founder independence from daily operations.</li>\n</ul>\n</li>\n<li>Private equity valuations and how earnings multiples increase with scale.</li>\n</ul>\n</li>\n<li>\n<p><strong>A Framework for Business Success:</strong></p>\n<ul>\n<li>Luke’s APM Framework:\n<ul>\n<li><strong>Alignment:</strong> Clear communication and team buy-in on strategic goals.</li>\n<li><strong>Product:</strong> Constant innovation, evaluating product performance, and focusing on top winners.</li>\n<li><strong>People:</strong> Building a team of top performers who align with company goals.</li>\n<li><strong>Margins:</strong> Understanding and improving profit margins at a granular level.</li>\n</ul>\n</li>\n</ul>\n</li>\n<li>\n<p><strong>Key Advice for Entrepreneurs:</strong></p>\n<ul>\n<li>Always be prepared to sell your business—even if you don’t plan to.</li>\n<li>Focus on long-term strategy and planning, not just daily operations.</li>\n<li>Surround yourself with the right people and stay adaptable to market changes.</li>\n</ul>\n</li>\n<li>\n<p><strong>The Mental Game of Entrepreneurship:</strong></p>\n<ul>\n<li>Managing stress and staying logical under pressure.</li>\n<li>Building resilience to navigate business challenges.</li>\n</ul>\n</li>\n<li>\n<p><strong>Future Goals:</strong></p>\n<ul>\n<li>Luke’s work at Apex CEO focuses on coaching founder-CEOs in scaling their businesses and preparing for successful exits.</li>\n</ul>\n</li>\n</ol>\n<hr>\n<h4><strong>Key Takeaways:</strong></h4>\n<ul>\n<li>Prioritize strategic planning to avoid burnout and keep the business growth-focused.</li>\n<li>Develop a product and people strategy that aligns with your vision.</li>\n<li>Prepare for an exit by building systems, improving margins, and diversifying risk.</li>\n</ul>\n<hr>\n<h4><strong>Final Thoughts from Luke:</strong></h4>\n<p>\"De-risk your business, focus on your strengths, and surround yourself with the right team. Success is not just about working hard but working smart.\"</p>\n<hr>\n<h4><strong>Connect with Luke Peters:</strong><a rel=\"noopener\" target=\"_new\" href=\"https://apexceo.co\"><span></span></a></h4>\n<ul>\n<li><strong>LinkedIn:</strong> <a rel=\"noopener\" target=\"_new\" href=\"https://www.linkedin.com/in/luke--peters\"><span>Luke</span><span> Peters</span></a></li>\n<li><strong>YouTube Channel:<span>&nbsp;</span></strong><a rel=\"noopener\" href=\"https://www.youtube.com/@StrategyByLuke\">Strategy by Luke</a><br><span></span></li>\n</ul>\n<hr>\n<h4><strong>Free Strategy Call:</strong></h4>\n<ul>\n<li>Visit the homepage for a free strategy call and receive a complimentary business planning document.</li>\n</ul>",
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    "postBody" : "<p style=\"font-size: 14px;\">On this episode of <em>The Chris Voss Show</em>, Luke Peters shares his entrepreneurial journey—from working in his family’s donut shop to building NewAir into a multi-million-dollar company. As the former CEO of NewAir, Luke dives into the challenges of scaling a business from scratch without funding and the strategies that helped him achieve a successful exit.</p>\n<!--more-->\n<p style=\"font-size: 14px;\">Key topics include:</p>\n<ul style=\"font-size: 14px;\">\n<li>Transitioning from a direct-to-consumer model to a multi-channel strategy with major partners like Home Depot and Amazon.</li>\n<li>The critical role of understanding margins and aligning products to maximize profitability.</li>\n<li>Luke’s practical framework for CEOs to identify the right priorities and solve the problems that drive real growth.</li>\n</ul>\n<p style=\"font-size: 14px;\">Whether you’re starting out or leading a growing business, Luke’s insights are packed with actionable advice for scaling effectively and preparing for a successful exit.</p>\n<p style=\"font-size: 14px;\">Catch the full conversation for a masterclass in entrepreneurship that can transform the way you approach your business.</p>\n<p style=\"font-size: 14px;\">Don't forget to subscribe, review, and share this episode with fellow entrepreneurs!</p>\n{% module_block module \"widget_946fd224-5456-42eb-83c6-be0fbf2b1117\" %}{% module_attribute \"child_css\" is_json=\"true\" %}{}{% end_module_attribute %}{% module_attribute \"css\" is_json=\"true\" %}{}{% end_module_attribute %}{% module_attribute \"definition_id\" is_json=\"true\" %}null{% end_module_attribute %}{% module_attribute \"field_types\" is_json=\"true\" %}{\"video_thumbnail_image\":\"image\",\"youtube_video_id\":\"text\"}{% end_module_attribute %}{% module_attribute \"label\" is_json=\"true\" %}null{% end_module_attribute %}{% module_attribute \"module_id\" is_json=\"true\" %}180100466200{% end_module_attribute %}{% module_attribute \"path\" is_json=\"true\" %}\"/apex/modules/video_thumbnail_module_local\"{% end_module_attribute %}{% module_attribute \"schema_version\" is_json=\"true\" %}2{% end_module_attribute %}{% module_attribute \"smart_objects\" is_json=\"true\" %}null{% end_module_attribute %}{% module_attribute \"smart_type\" is_json=\"true\" %}\"NOT_SMART\"{% end_module_attribute %}{% module_attribute \"tag\" is_json=\"true\" %}\"module\"{% end_module_attribute %}{% module_attribute \"type\" is_json=\"true\" %}\"module\"{% end_module_attribute %}{% module_attribute \"video_thumbnail_image\" is_json=\"true\" %}{\"alt\":\"\",\"height\":720,\"loading\":\"lazy\",\"max_height\":720,\"max_width\":1280,\"size_type\":\"auto\",\"src\":\"https://47205836.fs1.hubspotusercontent-na1.net/hubfs/47205836/thumbnail%20(5).jpeg\",\"width\":1280}{% end_module_attribute %}{% module_attribute \"wrap_field_tag\" is_json=\"true\" %}\"div\"{% end_module_attribute %}{% module_attribute \"youtube_video_id\" is_json=\"true\" %}\"1uXqFsP7d8s&t=1s\"{% end_module_attribute %}{% end_module_block %}\n<hr>\n<h3>Episode Notes: Luke Peters on The Chris Voss Show</h3>\n<h4 style=\"font-size: 14px;\"><strong>Host:&nbsp;</strong><span style=\"font-weight: normal;\">Chris Voss</span></h4>\n<p style=\"font-size: 14px;\">Luke Peters, accomplished entrepreneur, former CEO of NewAir, and current CEO coach at Apex CEO.</p>\n<hr>\n<h4><strong>Episode Highlights:</strong></h4>\n<ol>\n<li>\n<p><strong>Luke’s Journey:</strong></p>\n<ul>\n<li>Founded NewAir in 2001, starting from a garage-based operation.</li>\n<li>Scaled NewAir to $600M in cumulative sales and $80M in annual revenue.</li>\n<li>Successfully sold the company to private equity, retaining 100% equity.</li>\n</ul>\n</li>\n<li>\n<p><strong>Building a Business from Scratch:</strong></p>\n<ul>\n<li>Luke's entrepreneurial roots began with family-owned businesses and service-based ventures.</li>\n<li>Key lessons learned from scaling NewAir: building systems, improving margins, and hiring top talent.</li>\n</ul>\n</li>\n<li>\n<p><strong>Preparing for a Business Exit:</strong></p>\n<ul>\n<li>Importance of “de-risking” a business for potential buyers.</li>\n<li>Key factors in increasing valuation:\n<ul>\n<li>Higher profit margins.</li>\n<li>Diversified customer base.</li>\n<li>Strong management team.</li>\n<li>Founder independence from daily operations.</li>\n</ul>\n</li>\n<li>Private equity valuations and how earnings multiples increase with scale.</li>\n</ul>\n</li>\n<li>\n<p><strong>A Framework for Business Success:</strong></p>\n<ul>\n<li>Luke’s APM Framework:\n<ul>\n<li><strong>Alignment:</strong> Clear communication and team buy-in on strategic goals.</li>\n<li><strong>Product:</strong> Constant innovation, evaluating product performance, and focusing on top winners.</li>\n<li><strong>People:</strong> Building a team of top performers who align with company goals.</li>\n<li><strong>Margins:</strong> Understanding and improving profit margins at a granular level.</li>\n</ul>\n</li>\n</ul>\n</li>\n<li>\n<p><strong>Key Advice for Entrepreneurs:</strong></p>\n<ul>\n<li>Always be prepared to sell your business—even if you don’t plan to.</li>\n<li>Focus on long-term strategy and planning, not just daily operations.</li>\n<li>Surround yourself with the right people and stay adaptable to market changes.</li>\n</ul>\n</li>\n<li>\n<p><strong>The Mental Game of Entrepreneurship:</strong></p>\n<ul>\n<li>Managing stress and staying logical under pressure.</li>\n<li>Building resilience to navigate business challenges.</li>\n</ul>\n</li>\n<li>\n<p><strong>Future Goals:</strong></p>\n<ul>\n<li>Luke’s work at Apex CEO focuses on coaching founder-CEOs in scaling their businesses and preparing for successful exits.</li>\n</ul>\n</li>\n</ol>\n<hr>\n<h4><strong>Key Takeaways:</strong></h4>\n<ul>\n<li>Prioritize strategic planning to avoid burnout and keep the business growth-focused.</li>\n<li>Develop a product and people strategy that aligns with your vision.</li>\n<li>Prepare for an exit by building systems, improving margins, and diversifying risk.</li>\n</ul>\n<hr>\n<h4><strong>Final Thoughts from Luke:</strong></h4>\n<p>\"De-risk your business, focus on your strengths, and surround yourself with the right team. Success is not just about working hard but working smart.\"</p>\n<hr>\n<h4><strong>Connect with Luke Peters:</strong><a rel=\"noopener\" target=\"_new\" href=\"https://apexceo.co\"><span></span></a></h4>\n<ul>\n<li><strong>LinkedIn:</strong> <a rel=\"noopener\" target=\"_new\" href=\"https://www.linkedin.com/in/luke--peters\"><span>Luke</span><span> Peters</span></a></li>\n<li><strong>YouTube Channel:<span>&nbsp;</span></strong><a rel=\"noopener\" href=\"https://www.youtube.com/@StrategyByLuke\">Strategy by Luke</a><br><span></span></li>\n</ul>\n<hr>\n<h4><strong>Free Strategy Call:</strong></h4>\n<ul>\n<li>Visit the homepage for a free strategy call and receive a complimentary business planning document.</li>\n</ul>",
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business.</p>\n<p style=\"font-size: 14px;\">Don't forget to subscribe, review, and share this episode with fellow entrepreneurs!</p>\n{% module_block module \"widget_946fd224-5456-42eb-83c6-be0fbf2b1117\" %}{% module_attribute \"child_css\" is_json=\"true\" %}{}{% end_module_attribute %}{% module_attribute \"css\" is_json=\"true\" %}{}{% end_module_attribute %}{% module_attribute \"definition_id\" is_json=\"true\" %}null{% end_module_attribute %}{% module_attribute \"field_types\" is_json=\"true\" %}{\"video_thumbnail_image\":\"image\",\"youtube_video_id\":\"text\"}{% end_module_attribute %}{% module_attribute \"label\" is_json=\"true\" %}null{% end_module_attribute %}{% module_attribute \"module_id\" is_json=\"true\" %}180100466200{% end_module_attribute %}{% module_attribute \"path\" is_json=\"true\" %}\"/apex/modules/video_thumbnail_module_local\"{% end_module_attribute %}{% module_attribute \"schema_version\" is_json=\"true\" %}2{% end_module_attribute %}{% module_attribute 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style=\"font-weight: normal;\">Chris Voss</span></h4>\n<p style=\"font-size: 14px;\">Luke Peters, accomplished entrepreneur, former CEO of NewAir, and current CEO coach at Apex CEO.</p>\n<hr>\n<h4><strong>Episode Highlights:</strong></h4>\n<ol>\n<li>\n<p><strong>Luke’s Journey:</strong></p>\n<ul>\n<li>Founded NewAir in 2001, starting from a garage-based operation.</li>\n<li>Scaled NewAir to $600M in cumulative sales and $80M in annual revenue.</li>\n<li>Successfully sold the company to private equity, retaining 100% equity.</li>\n</ul>\n</li>\n<li>\n<p><strong>Building a Business from Scratch:</strong></p>\n<ul>\n<li>Luke's entrepreneurial roots began with family-owned businesses and service-based ventures.</li>\n<li>Key lessons learned from scaling NewAir: building systems, improving margins, and hiring top talent.</li>\n</ul>\n</li>\n<li>\n<p><strong>Preparing for a Business Exit:</strong></p>\n<ul>\n<li>Importance of “de-risking” a business for potential buyers.</li>\n<li>Key factors in increasing valuation:\n<ul>\n<li>Higher profit margins.</li>\n<li>Diversified customer base.</li>\n<li>Strong management team.</li>\n<li>Founder independence from daily operations.</li>\n</ul>\n</li>\n<li>Private equity valuations and how earnings multiples increase with scale.</li>\n</ul>\n</li>\n<li>\n<p><strong>A Framework for Business Success:</strong></p>\n<ul>\n<li>Luke’s APM Framework:\n<ul>\n<li><strong>Alignment:</strong> Clear communication and team buy-in on strategic goals.</li>\n<li><strong>Product:</strong> Constant innovation, evaluating product performance, and focusing on top winners.</li>\n<li><strong>People:</strong> Building a team of top performers who align with company goals.</li>\n<li><strong>Margins:</strong> Understanding and improving profit margins at a granular level.</li>\n</ul>\n</li>\n</ul>\n</li>\n<li>\n<p><strong>Key Advice for Entrepreneurs:</strong></p>\n<ul>\n<li>Always be prepared to sell your business—even if you don’t plan to.</li>\n<li>Focus on long-term strategy and planning, not just daily operations.</li>\n<li>Surround yourself with the right people and stay adaptable to market changes.</li>\n</ul>\n</li>\n<li>\n<p><strong>The Mental Game of Entrepreneurship:</strong></p>\n<ul>\n<li>Managing stress and staying logical under pressure.</li>\n<li>Building resilience to navigate business challenges.</li>\n</ul>\n</li>\n<li>\n<p><strong>Future Goals:</strong></p>\n<ul>\n<li>Luke’s work at Apex CEO focuses on coaching founder-CEOs in scaling their businesses and preparing for successful exits.</li>\n</ul>\n</li>\n</ol>\n<hr>\n<h4><strong>Key Takeaways:</strong></h4>\n<ul>\n<li>Prioritize strategic planning to avoid burnout and keep the business growth-focused.</li>\n<li>Develop a product and people strategy that aligns with your vision.</li>\n<li>Prepare for an exit by building systems, improving margins, and diversifying risk.</li>\n</ul>\n<hr>\n<h4><strong>Final Thoughts from Luke:</strong></h4>\n<p>\"De-risk your business, focus on your strengths, and surround yourself with the right team. Success is not just about working hard but working smart.\"</p>\n<hr>\n<h4><strong>Connect with Luke Peters:</strong><a rel=\"noopener\" target=\"_new\" href=\"https://apexceo.co\"><span></span></a></h4>\n<ul>\n<li><strong>LinkedIn:</strong> <a rel=\"noopener\" target=\"_new\" href=\"https://www.linkedin.com/in/luke--peters\"><span>Luke</span><span> Peters</span></a></li>\n<li><strong>YouTube Channel:<span>&nbsp;</span></strong><a rel=\"noopener\" href=\"https://www.youtube.com/@StrategyByLuke\">Strategy by Luke</a><br><span></span></li>\n</ul>\n<hr>\n<h4><strong>Free Strategy Call:</strong></h4>\n<ul>\n<li>Visit the homepage for a free strategy call and receive a complimentary business planning document.</li>\n</ul>",
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  [![](https://www.apexceo.co/hs-fs/hubfs/thumbnail%20(5).jpeg?width=352&name=thumbnail%20(5).jpeg)](https://www.apexceo.co/blog/the-chris-voss-show)
  
  ### [The Chris Voss Show](https://www.apexceo.co/blog/the-chris-voss-show)
  
    - Dec 15, 2024, 6:07:35 AM

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