Right About Now

Selling a business is a milestone for many entrepreneurs, but maximizing its value takes planning and strategy. In this episode of Right About Now with Ryan Alford, Luke Peters shares his firsthand experience of building and selling NewAir for millions, the challenges he overcame, and the key steps to creating a business that’s irresistible to buyers while preserving its legacy.

Luke dives into his journey of starting NewAir in 2001 with a focus on portable air conditioners and growing it into a trusted brand in the compact appliance industry, achieving over $80 million in annual sales. He highlights the strategies that helped him scale successfully:

• The spark that drove him to launch NewAir and the importance of finding the right niche.
• Building a brand centered on trust and excellent customer service.
• How to identify and hire the right talent to support growth.
• Adapting to an evolving, competitive market with updated marketing tactics and strategies.
• His transition from CEO to executive coach, where he now helps other entrepreneurs scale, optimize, and prepare for successful exits.

Head back to the Homepage to learn more about Luke or book a free coaching call.

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Episode Notes: Building a Fun & Profitable Brand with Luke Peters

Host: Ryan Alford

Luke shares actionable advice for entrepreneurs at every stage—whether you’re just starting out or preparing for an exit. This episode is packed with practical insights to help you find your competitive edge, build a high-performing team, and create a brand that stands out in today’s market.

Key Topics Covered:

1. The Origin Story:

   • Luke started his journey in 2001 by identifying an untapped market for portable air conditioners through SEO research on Yahoo.
   • Began with a direct-to-consumer model, building the business from the ground up with a focus on profitability from day one.

2. Pivot to Success:

   • In 2012, facing competition from big-box retailers like Home Depot and Walmart, Luke shifted focus to branding.
   • Transitioned from DTC sales to partnerships with large retailers and emphasized building "the most trusted brand in compact appliances."

3. Lessons Learned:

   • Hire Top Talent: Investing in A-players and giving them a stake in the business leads to better outcomes.
   • Focus on Margins: Prioritize profitability early to ensure your brand provides market value.
   • Brand Building: Create emotional connections with customers to differentiate your products, even in functional categories like refrigeration.
   • Influencer Marketing: Early adoption of influencer strategies helped NewAir establish credibility and expand its reach.

4. Challenges Overcome:

   • Navigated the complexities of scaling from SEO dominance to handling logistics for large-scale operations.
   • Dealt with the difficulties of hiring and retaining top talent while maintaining company culture.

5. Crazy Moments in Business:

   • From Christmas party scandals to absurd lawsuits, Luke shares some of the unexpected challenges of running a growing company in California.

6. Coaching Focus at Apex CEO:

   • Helping entrepreneurs prepare for exits, refine product positioning, and build strong organizational systems.
   • Common issues include identifying the right problems, creating goals for employees, and preparing for multi-year exit strategies.

7. Personal Side:

   • Luke balances his entrepreneurial journey with family life, raising six kids, and enjoying surfing in Huntington Beach.

Resources Mentioned:

• Apex CEO: apexceo.co — Free coaching calls for business owners.
• Topgrading Method: A hiring approach to vet candidates thoroughly and ensure the best fit.

Key Quotes:

• "Branding is a feeling—how do you make people feel about your product?"
• "Hire people who’ve already done what you need them to do."
• "Make your company a great place to work to attract the best talent."

Where to Connect with Luke Peters:

• LinkedIn: Luke Peters
• YouTube Channel: Strategy by Luke

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