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Dec 12, 2024

In this episode, Dr. Jonathan H. Westover speaks with Luke Peters about strategies for hiring and developing top talent to foster a strong, dynamic team culture.

Luke Peters started his entrepreneurial journey in 2001, launching NewAir from his garage in Fountain Valley, California. Drawing on a work ethic he developed while helping in his family’s donut shop for just 25 cents an hour, Luke built NewAir into a thriving business, achieving over $600 million in cumulative sales. Under his leadership, NewAir reached $80 million in annual revenue, earned spots on the Inc. 500 list multiple times, and successfully transitioned from a 100% B2C model to a multi-channel approach, partnering with major retailers like Home Depot and Amazon.

In mid-2021, after two decades of scaling the business while retaining 100% ownership, Luke sold NewAir in a mid-eight-figure deal. Now, he serves as a strategic CEO coach, using his experience to help other entrepreneurs overcome challenges and achieve success. A father of six and an avid surfer, Luke exemplifies how balancing family and business can lead to a fulfilling life.

Today, Luke is focused on his latest venture, Apex CEO, where he’s dedicated to guiding entrepreneurs on their journey to building and exiting valuable businesses.

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Episode Notes: HCI Family of Podcasts with Luke Peters

Host: John Smith
Episode Topic: Hiring and Nurturing Top Talent to Create a Dynamic Team Culture

Key Highlights:

Luke Peters’ Background

  • Founder of NewAir, launched in 2001 as a garage startup, achieving over $600M in cumulative sales.
  • Successfully pivoted NewAir from a direct-to-consumer model to a multi-channel strategy, working with major retailers like Home Depot and Amazon.
  • Sold NewAir in 2021 in a mid-eight-figure deal while retaining 100% of the stock.
  • Currently serves as a strategic CEO coach at Apex CEO, helping entrepreneurs scale and prepare for exits.

Journey from Startup to Exit

  • Grew up in a family of 12, working in the family doughnut shop for 25 cents/hour, where he learned the value of hard work.
  • Started NewAir after being inspired by his brother’s e-commerce success during the dot-com bust.
  • Initially focused on product development and operations before realizing the critical importance of hiring top talent and nurturing team culture.

Key Takeaways on Hiring and Team Culture

1. Transition from Bootstrapping to Hiring Top Talent

  • Early stages focused on cost-effective hiring and managing expenses.
  • Realized the value of experienced talent:
    • Accelerated growth by bringing in individuals who had already achieved desired results in similar roles.
    • Partnered with executive recruiters to find top-tier candidates.
  • Learned that delaying critical hires often holds back business growth.

2. Fostering a Dynamic Team Culture

  • Culture starts with respect:
    • Avoid public criticism of team members; address issues privately.
  • Encouraged friendships at work by organizing on-the-clock activities like bowling and sports leagues.
  • Created opportunities for cross-departmental bonding during team lunches and events.

3. Systems and Processes for Top Performers

  • Established clear processes to reduce chaos in a growing organization.
  • Ensured defined roles, budgets, and performance targets were in place to attract and retain top talent.

4. Leadership Lessons

  • Empowered teams by explaining the “why” behind goals to foster creativity and ownership.
  • Held all-staff meetings to celebrate achievements and encourage collaboration across departments.
  • Emphasized the importance of learning from mistakes and maintaining an open mind throughout the leadership journey.

Final Thoughts from Luke Peters

  • Leadership is a continuous learning process—embrace it and surround yourself with people better than you.
  • Focus on creating systems, hiring strategically, and fostering a culture of respect and camaraderie.
  • Success comes from balancing short-term decisions with long-term strategic vision.

Where to Connect with Luke Peters:

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

Luke Peters

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...