---
title: Success for the Athletic-Minded Man
description: Entrepreneur Luke Peters reveals how he built and exited an $80M business—without investors. Learn why chasing revenue keeps you stuck, how SEO kickstarted his cash flow, and what it really takes to build a sellable company.
image: https://www.apexceo.co/hubfs/1620x1620.png
---

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# Success for the Athletic-Minded Man

[Home](https://www.apexceo.co/) [Blog](https://www.apexceo.co/blog) Success for the Athletic-Minded Man

[![blog image](https://www.apexceo.co/hubfs/1620x1620.png)](https://www.apexceo.co/blog/success-for-the-athletic-minded-man-feat.-luke-peters)

[By Luke Peters](https://www.apexceo.co/blog/author/luke-peters)  Apr 3, 2025

In this episode of *Success for the Athletic-Minded Man*, host Jim Harshaw Jr. sits down with Luke Peters—entrepreneur, CEO coach, and founder of NewAir—to unpack the *real* journey behind building an 8-figure business from scratch.

Luke started with nothing—earning 25 cents an hour in his family’s donut shop—and worked his way up to an $80M exit. But his story isn’t about hype. It’s about grit, smart decisions, and hard-earned lessons.

---

Episode Notes – Success for the Athletic-Minded Man feat. Luke Peters

Title: From 25¢/Hour to an $80M Exit – Luke Peters on Scaling Smart, Building Sellable Companies, and Skipping the Grind Trap

Host: Jim Harshaw

**Guest:** Luke Peters – Founder of NewAir, CEO coach, and 8-figure exit entrepreneur

---

**Overview:**  
Luke Peters didn’t stumble into success—he earned it. From humble beginnings working in his family’s donut shop to building and exiting an $80M company, Luke shares the real story behind what it takes to scale a business the smart way.

In this episode, we dive deep into:

- Why chasing revenue is the *fastest* way to stay stuck
- How Luke used SEO in the early 2000s to cash-flow his startup from day one
- The pivotal shift in 2012 that forced him to go all-in on brand over direct-to-consumer
- His unconventional journey from hazardous waste scientist to ecommerce mogul
- What most business owners get wrong about margins—and why 5% just doesn’t cut it
- How to build a leadership team that adds enterprise value and makes your company sellable
- The difference between hustle and *strategic* hustle
- How Luke structured win-win incentives that got A-players to run through walls
- Why emotional hiring and personality-driven decisions sabotage long-term growth
- What most CEOs overlook when preparing for an exit—and how to avoid leaving money on the table

Whether you're looking to scale, exit, or just stop being the bottleneck in your own business, this episode is packed with real talk and actionable insights.

Whether you're grinding in year two or looking to exit in year fifteen, Luke’s story offers a blueprint few are willing to share. It’s tactical, honest, and packed with the kind of insight that only comes from being in the trenches.

---

**Bonus:**  
Grab the **free Action Plan** from this episode (and all others) at [JimHarshawJr.com/Action](https://JimHarshawJr.com/Action)

---

**Follow Luke:**

- LinkedIn: [Luke Peters](https://www.linkedin.com/in/luke--peters/)
- Website: [Apex CEO](https://www.apexceo.co/)

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

#### Luke Peters

 Luke Peters is an accomplished entrepreneur and the former CEO of NewAir, a company he founded in 2001 and grew from a garage startup to a thriving business with over $600 million in cumulative...

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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://apexceo.com\"><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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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://apexceo.com\"><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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    "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. As a seasoned entrepreneur, Luke explains why planning for an exit strategy should be a priority from day one—a step many founders overlook as they get consumed by daily operations.</p>\n<!--more--><p style=\"font-size: 14px;\">Key topics include:</p>\n<ul style=\"font-size: 14px;\">\n<li><strong>The Evolution of NewAir</strong>: How Luke shifted from a direct-to-consumer model to partnering with major retailers like Home Depot and Lowe’s, and the challenges he faced along the way.</li>\n<li><strong>Exit Strategies</strong>: What buyers really look for, from having a strong brand story to understanding key financial metrics.</li>\n<li><strong>Building a Strong Team</strong>: Why hiring top talent and creating scalable systems are essential for a business to thrive without relying on its founder.</li>\n<li><strong>Mentorship and Accountability</strong>: The value of clear goals and external support in driving entrepreneurial success.</li>\n</ul>\n<p style=\"font-size: 14px;\">Luke’s insights provide a roadmap for entrepreneurs at any stage, offering practical advice to help you scale your business and prepare for a successful exit. Catch the full episode to hear his strategies and lessons learned.</p>\n{% module_block module \"widget_0420eff7-b839-43ae-802b-3cc27542f909\" %}{% 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/Luke-Peters-Horizontal.jpg\",\"alt\":\"\",\"loading\":\"lazy\",\"width\":850,\"height\":425,\"max_width\":850,\"max_height\":425}{% end_module_attribute %}{% module_attribute \"youtube_video_id\" is_json=\"true\" %}\"vBL9tJkDGOs\"{% end_module_attribute %}{% end_module_block %}\n<hr>\n<p style=\"font-size: 28px;\"><strong>Episode Notes: The Business of Story with Luke Peters</strong></p>\n<p><strong>Host: </strong><span style=\"font-weight: normal;\">Park Howell</span><strong><br></strong><strong>Episode Overview:</strong> Luke Peters shares his journey of building NewAir from a garage startup to a business generating $600M in cumulative sales. 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://apexceo.com\"><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. As a seasoned entrepreneur, Luke explains why planning for an exit strategy should be a priority from day one—a step many founders overlook as they get consumed by daily operations.</p>\n<!--more--><p style=\"font-size: 14px;\">Key topics include:</p>\n<ul style=\"font-size: 14px;\">\n<li><strong>The Evolution of NewAir</strong>: How Luke shifted from a direct-to-consumer model to partnering with major retailers like Home Depot and Lowe’s, and the challenges he faced along the way.</li>\n<li><strong>Exit Strategies</strong>: What buyers really look for, from having a strong brand story to understanding key financial metrics.</li>\n<li><strong>Building a Strong Team</strong>: Why hiring top talent and creating scalable systems are essential for a business to thrive without relying on its founder.</li>\n<li><strong>Mentorship and Accountability</strong>: The value of clear goals and external support in driving entrepreneurial success.</li>\n</ul>\n<p style=\"font-size: 14px;\">Luke’s insights provide a roadmap for entrepreneurs at any stage, offering practical advice to help you scale your business and prepare for a successful exit. Catch the full episode to hear his strategies and lessons learned.</p>\n{% module_block module \"widget_0420eff7-b839-43ae-802b-3cc27542f909\" %}{% 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/Luke-Peters-Horizontal.jpg\",\"alt\":\"\",\"loading\":\"lazy\",\"width\":850,\"height\":425,\"max_width\":850,\"max_height\":425}{% end_module_attribute %}{% module_attribute \"youtube_video_id\" is_json=\"true\" %}\"vBL9tJkDGOs\"{% end_module_attribute %}{% end_module_block %}\n<hr>\n<p style=\"font-size: 28px;\"><strong>Episode Notes: The Business of Story with Luke Peters</strong></p>\n<p><strong>Host: </strong><span style=\"font-weight: normal;\">Park Howell</span><strong><br></strong><strong>Episode Overview:</strong> Luke Peters shares his journey of building NewAir from a garage startup to a business generating $600M in cumulative sales. 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://apexceo.com\"><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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Luke’s perspective is rooted in years of hands-on experience, making his advice a must-hear for entrepreneurs looking to grow and optimize their businesses.</p>\n{% module_block module \"widget_c4320adf-a174-4418-a2f2-a49b9ade56f2\" %}{% module_attribute \"child_css\" is_json=\"true\" %}{% raw %}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(4).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\" %}\"qwXGdpFKYKg\"{% end_module_attribute %}{% end_module_block %}\n<hr>\n<p><span style=\"font-size: 24px;\"><strong>Episode Notes: </strong><span style=\"font-weight: bold;\">Building and Selling a Multi-Million Dollar Business with Luke Peters</span></span></p>\n<p style=\"font-size: 16px;\"><strong>Host:</strong><br>Deanna Ralescu | <a rel=\"noopener\" target=\"_new\" href=\"https://labelfreepodcast.com\"><span>Label</span><span> Free</span><span><span> Podcast</span></span></a></p>\n<p style=\"font-size: 16px;\"><em>This episode of the Label Free Podcast is packed with actionable insights for entrepreneurs and CEOs looking to scale their businesses and achieve long-term success.</em></p>\n<hr>\n<p><span style=\"font-size: 24px;\"><strong>Summary:</strong></span><br>In this episode of the <em>Label Free Podcast</em>, host Deanna Ralescu talks with Luke Peters, entrepreneur, coach, and former CEO of NewAir. Luke shares his journey of scaling NewAir from a garage startup to a $600 million company with $80 million in annual revenue, and how he successfully exited the business with a mid-eight-figure deal. He also provides invaluable advice for entrepreneurs on scaling, hiring top talent, leveraging creativity, and preparing a business for sale—even if selling isn’t on the horizon.</p>\n<hr>\n<p style=\"font-size: 24px;\"><strong>Key Highlights:</strong></p>\n<ul>\n<li><strong>NewAir’s Origin Story:</strong> Luke started NewAir in 2001 from his garage with no prior business experience. He began by selling niche HVAC products like portable air conditioners, wine coolers, and evaporative coolers.</li>\n<li><strong>Scaling Success:</strong> Grew NewAir to $80 million in annual revenue by targeting underserved product niches, forming partnerships with major retailers, and maintaining a lean business model.</li>\n<li><strong>Challenges in Growth:</strong> Luke emphasized how scaling a business often reveals leadership gaps and operational weaknesses, which must be addressed with experienced talent and robust processes.</li>\n<li><strong>Talent and Experience:</strong> Hiring experienced leaders who have “already done what you need them to do” is critical for long-term business growth and minimizing risks during scaling.</li>\n<li><strong>Product Innovation:</strong> Founders should think beyond simple product line extensions and focus on groundbreaking innovations to differentiate their businesses.<hr></li>\n</ul>\n<p style=\"font-size: 24px;\"><strong>Key Takeaways:</strong></p>\n<ol>\n<li><strong>Focus on Talent Early:</strong> Invest in hiring experienced and specialized talent sooner rather than later. Talent accelerates growth and helps solve problems more effectively.</li>\n<li><strong>Identify and Dominate Niches:</strong> Seek out underserved markets where large competitors are less active. These niches often hold untapped opportunities.</li>\n<li><strong>Prepare to Sell Your Business:</strong> Even if you don’t intend to sell, building a business that’s sale-ready (e.g., strong margins, solid leadership team, streamlined processes) makes it more resilient and valuable.</li>\n<li><strong>Leverage External Expertise:</strong> Use coaches, advisors, and specialized consultants to gain new perspectives and uncover hidden opportunities in your business.</li>\n<li><strong>Create a Strong Team Culture:</strong> Foster a supportive, fun, and collaborative work environment where employees feel valued and motivated to contribute.<hr></li>\n</ol>\n<p><span style=\"font-size: 24px;\"><strong>Final Thoughts from Luke Peters:</strong></span><br><em>“Prepare your business for a sale, even if you don’t plan to sell. It forces you to strengthen your company, create systems that don’t depend on you, and build a resilient business. Whether you sell or not, you’ll be in a much stronger position to succeed on your terms.”</em></p>\n<hr>\n<p style=\"font-size: 24px; line-height: 1.15;\"><strong>About Luke Peters:</strong><br><span style=\"font-size: 16px;\">Luke Peters is an accomplished entrepreneur and the founder of Apex CEO. After growing NewAir to $80M in annual revenue and selling the company, he now focuses on helping other entrepreneurs scale their businesses, develop innovative products, and prepare for successful exits.</span></p>\n<hr>\n<h3>Where to Connect with Luke Peters:</h3>\n<ul>\n<li><strong>LinkedIn:</strong><span>&nbsp;</span><a rel=\"noopener\" href=\"https://www.linkedin.com/in/luke--peters/\"><span>Luke</span><span>&nbsp;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></li>\n</ul>\n<p>If you’re a founder or CEO looking to scale your business or make it sale-ready, reach out to Luke Peters for strategic advice. Don’t forget to subscribe, follow, and share this episode with fellow entrepreneurs!</p>",
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      "post_body" : "<p style=\"font-size: 14px;\">On this episode of the <em>Label Free Podcast</em>, Luke Peters joins host Deanna Radulescu to share his journey of building NewAir from a garage startup to a company generating $600 million in sales over 20 years. Luke reflects on the challenges and lessons he learned along the way, including how he carved out a niche in the market by focusing on unique appliances like portable air conditioners and wine coolers—products not dominated by the major brands.</p>\n<!--more--><p style=\"font-size: 14px;\">Luke explains how scaling a business requires hiring the right talent, emphasizing that experienced professionals can play a critical role in accelerating growth. He also discusses his current ventures, which include product development and CEO coaching through Apex CEO, where he works with founders to innovate, scale, and prepare their businesses for future success.</p>\n<p style=\"font-size: 14px;\">He stresses the importance of preparing a business for sale—even if a sale isn’t the immediate goal—as it strengthens operations and provides valuable insights. 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Luke shares his journey of scaling NewAir from a garage startup to a $600 million company with $80 million in annual revenue, and how he successfully exited the business with a mid-eight-figure deal. He also provides invaluable advice for entrepreneurs on scaling, hiring top talent, leveraging creativity, and preparing a business for sale—even if selling isn’t on the horizon.</p>\n<hr>\n<p style=\"font-size: 24px;\"><strong>Key Highlights:</strong></p>\n<ul>\n<li><strong>NewAir’s Origin Story:</strong> Luke started NewAir in 2001 from his garage with no prior business experience. He began by selling niche HVAC products like portable air conditioners, wine coolers, and evaporative coolers.</li>\n<li><strong>Scaling Success:</strong> Grew NewAir to $80 million in annual revenue by targeting underserved product niches, forming partnerships with major retailers, and maintaining a lean business model.</li>\n<li><strong>Challenges in Growth:</strong> Luke emphasized how scaling a business often reveals leadership gaps and operational weaknesses, which must be addressed with experienced talent and robust processes.</li>\n<li><strong>Talent and Experience:</strong> Hiring experienced leaders who have “already done what you need them to do” is critical for long-term business growth and minimizing risks during scaling.</li>\n<li><strong>Product Innovation:</strong> Founders should think beyond simple product line extensions and focus on groundbreaking innovations to differentiate their businesses.<hr></li>\n</ul>\n<p style=\"font-size: 24px;\"><strong>Key Takeaways:</strong></p>\n<ol>\n<li><strong>Focus on Talent Early:</strong> Invest in hiring experienced and specialized talent sooner rather than later. Talent accelerates growth and helps solve problems more effectively.</li>\n<li><strong>Identify and Dominate Niches:</strong> Seek out underserved markets where large competitors are less active. These niches often hold untapped opportunities.</li>\n<li><strong>Prepare to Sell Your Business:</strong> Even if you don’t intend to sell, building a business that’s sale-ready (e.g., strong margins, solid leadership team, streamlined processes) makes it more resilient and valuable.</li>\n<li><strong>Leverage External Expertise:</strong> Use coaches, advisors, and specialized consultants to gain new perspectives and uncover hidden opportunities in your business.</li>\n<li><strong>Create a Strong Team Culture:</strong> Foster a supportive, fun, and collaborative work environment where employees feel valued and motivated to contribute.<hr></li>\n</ol>\n<p><span style=\"font-size: 24px;\"><strong>Final Thoughts from Luke Peters:</strong></span><br><em>“Prepare your business for a sale, even if you don’t plan to sell. It forces you to strengthen your company, create systems that don’t depend on you, and build a resilient business. Whether you sell or not, you’ll be in a much stronger position to succeed on your terms.”</em></p>\n<hr>\n<p style=\"font-size: 24px; line-height: 1.15;\"><strong>About Luke Peters:</strong><br><span style=\"font-size: 16px;\">Luke Peters is an accomplished entrepreneur and the founder of Apex CEO. After growing NewAir to $80M in annual revenue and selling the company, he now focuses on helping other entrepreneurs scale their businesses, develop innovative products, and prepare for successful exits.</span></p>\n<hr>\n<h3>Where to Connect with Luke Peters:</h3>\n<ul>\n<li><strong>LinkedIn:</strong><span>&nbsp;</span><a rel=\"noopener\" href=\"https://www.linkedin.com/in/luke--peters/\"><span>Luke</span><span>&nbsp;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></li>\n</ul>\n<p>If you’re a founder or CEO looking to scale your business or make it sale-ready, reach out to Luke Peters for strategic advice. Don’t forget to subscribe, follow, and share this episode with fellow entrepreneurs!</p>",
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    "postBody" : "<p style=\"font-size: 14px;\">On this episode of the <em>Label Free Podcast</em>, Luke Peters joins host Deanna Radulescu to share his journey of building NewAir from a garage startup to a company generating $600 million in sales over 20 years. Luke reflects on the challenges and lessons he learned along the way, including how he carved out a niche in the market by focusing on unique appliances like portable air conditioners and wine coolers—products not dominated by the major brands.</p>\n<!--more--><p style=\"font-size: 14px;\">Luke explains how scaling a business requires hiring the right talent, emphasizing that experienced professionals can play a critical role in accelerating growth. He also discusses his current ventures, which include product development and CEO coaching through Apex CEO, where he works with founders to innovate, scale, and prepare their businesses for future success.</p>\n<p style=\"font-size: 14px;\">He stresses the importance of preparing a business for sale—even if a sale isn’t the immediate goal—as it strengthens operations and provides valuable insights. Luke’s perspective is rooted in years of hands-on experience, making his advice a must-hear for entrepreneurs looking to grow and optimize their businesses.</p>\n{% module_block module \"widget_c4320adf-a174-4418-a2f2-a49b9ade56f2\" %}{% 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(4).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\" %}\"qwXGdpFKYKg\"{% end_module_attribute %}{% end_module_block %}\n<hr>\n<p><span style=\"font-size: 24px;\"><strong>Episode Notes: </strong><span style=\"font-weight: bold;\">Building and Selling a Multi-Million Dollar Business with Luke Peters</span></span></p>\n<p style=\"font-size: 16px;\"><strong>Host:</strong><br>Deanna Ralescu | <a rel=\"noopener\" target=\"_new\" href=\"https://labelfreepodcast.com\"><span>Label</span><span> Free</span><span><span> Podcast</span></span></a></p>\n<p style=\"font-size: 16px;\"><em>This episode of the Label Free Podcast is packed with actionable insights for entrepreneurs and CEOs looking to scale their businesses and achieve long-term success.</em></p>\n<hr>\n<p><span style=\"font-size: 24px;\"><strong>Summary:</strong></span><br>In this episode of the <em>Label Free Podcast</em>, host Deanna Ralescu talks with Luke Peters, entrepreneur, coach, and former CEO of NewAir. Luke shares his journey of scaling NewAir from a garage startup to a $600 million company with $80 million in annual revenue, and how he successfully exited the business with a mid-eight-figure deal. He also provides invaluable advice for entrepreneurs on scaling, hiring top talent, leveraging creativity, and preparing a business for sale—even if selling isn’t on the horizon.</p>\n<hr>\n<p style=\"font-size: 24px;\"><strong>Key Highlights:</strong></p>\n<ul>\n<li><strong>NewAir’s Origin Story:</strong> Luke started NewAir in 2001 from his garage with no prior business experience. 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Whether you sell or not, you’ll be in a much stronger position to succeed on your terms.”</em></p>\n<hr>\n<p style=\"font-size: 24px; line-height: 1.15;\"><strong>About Luke Peters:</strong><br><span style=\"font-size: 16px;\">Luke Peters is an accomplished entrepreneur and the founder of Apex CEO. After growing NewAir to $80M in annual revenue and selling the company, he now focuses on helping other entrepreneurs scale their businesses, develop innovative products, and prepare for successful exits.</span></p>\n<hr>\n<h3>Where to Connect with Luke Peters:</h3>\n<ul>\n<li><strong>LinkedIn:</strong><span>&nbsp;</span><a rel=\"noopener\" href=\"https://www.linkedin.com/in/luke--peters/\"><span>Luke</span><span>&nbsp;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></li>\n</ul>\n<p>If you’re a founder or CEO looking to scale your business or make it sale-ready, reach out to Luke Peters for strategic advice. Don’t forget to subscribe, follow, and share this episode with fellow entrepreneurs!</p>",
    "postBodyRss" : "<p style=\"font-size: 14px;\">On this episode of the <em>Label Free Podcast</em>, Luke Peters joins host Deanna Radulescu to share his journey of building NewAir from a garage startup to a company generating $600 million in sales over 20 years. Luke reflects on the challenges and lessons he learned along the way, including how he carved out a niche in the market by focusing on unique appliances like portable air conditioners and wine coolers—products not dominated by the major brands.</p>\n<!--more--><p style=\"font-size: 14px;\">Luke explains how scaling a business requires hiring the right talent, emphasizing that experienced professionals can play a critical role in accelerating growth. 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Whether you sell or not, you’ll be in a much stronger position to succeed on your terms.”</em></p>\n<hr>\n<p style=\"font-size: 24px; line-height: 1.15;\"><strong>About Luke Peters:</strong><br><span style=\"font-size: 16px;\">Luke Peters is an accomplished entrepreneur and the founder of Apex CEO. 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  ### [Label Free Podcast](https://www.apexceo.co/blog/the-b2b-growth-blueprint)
  
    - Dec 15, 2024 4:29:48 AM
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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 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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: 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      "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. 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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 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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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    "postSummary" : "<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",
    "postSummaryRss" : "<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> {% 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>",
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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); 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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  [![](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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