← Right About Now - Legendary Business Advice
Right About Now - Legendary Business Advice
Leveraging Influencers and Your Top Talent with Luke Peters, Former Newair CEO
00:40:26
In this episode of Right About Now, host Ryan Alford sits down with Luke Peters, former CEO of Newair, a leading brand in portable refrigeration. Together, they delve into the intricacies of entrepreneurship, sharing invaluable lessons on achieving business success. Luke recounts his early days of spotting market opportunities through Yahoo search trends back in 2001 and how these insights fueled NewAir's growth into a flourishing enterprise. Listeners will gain practical strategies, including the necessity of maintaining robust profit margins, the art of hiring the right talent, and the power of influencer marketing. Luke also highlights the critical role of differentiation, emotional branding, and ongoing market research in staying competitive. This episode offers a wealth of actionable advice for entrepreneurs looking to carve out a unique space in the business world.
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- [00:02]
Matt Reynolds
Struggling to grow or start your business or drowning in an ocean of urgency. You're not alone. I'm Matt Reynolds and my brother Chris and I have been in the trenches of entrepreneurship for nearly 40 years combined. We've built successful companies from the ground up. We're sharing our hard earning lessons and practical strategies on the build you'd business podcast. And I'm excited to say that the build your business podcast is the newest addition to the Radcast network. Learn more at Turnkey Coach. Build or subscribe on your favorite podcast platform.
- [00:38]
Luke Peters
At the time, Yahoo showed that there was a lot of searches for portable air conditioners. That's literally how I got into this business. And just from the beginning, we were just cash flowing it. It was super easy to show up and search. I don't even think there were paid ads at that time. 2001. There may have been early on, the paid ads were super cheap.
- [00:55]
Ryan Alford
This is right about now with Ryan Alford, a Radcast Network production. We are the number one business show on the planet with 1 million downloads a month. Taking the BS out of business for over 6 years in over 400 episodes. You ready to start snapping next and cashing checks? Well, it starts right about now.
- [01:19]
What's up guys? Welcome to right about now. Hope you're doing great wherever you are, whatever you're listening. We appreciate you for making us number one in business and marketing on Apple podcasts today. Talking one of my favorite subjects, entrepreneurship, success building and hey, I like the little mini fridges, baby. I. You know, you'll know what that means shortly once we talk with Luke Peters. What's up, Luke?
- [01:46]
Luke Peters
And stoked to be here. Thanks for having me. Looking forward to it.
- [01:49]
Ryan Alford
I know. Hey, avid surfer too.
- [01:52]
Luke Peters
I heard the waves are right here. So.
- [01:54]
Ryan Alford
Yeah, love it in Huntington Beach. It's a great place to surf out here.
- [02:00]
Luke Peters
It's. It's beautiful. We've had. Last month's been really nice. Kind of small right now, but the weather's gorgeous. So. Yeah, blessed. Very lucky.
- [02:08]
Ryan Alford
I mean, other than knowing, you know, I'm in South Carolina. I don't know how you'd necessarily deal with some of the California bullshit, but other than that, it's a beautiful place to live. You gotta live on the beach, right?
- [02:20]
Luke Peters
Yeah. Well, believe it or not, we are in like the sanest coastal city in California. So very, very, very patriotic city. We have a huge fourth of July parade, American flags everywhere, so. So we lucked out where we are. But hey, South Carolina is beautiful too. We had, we have a Warehouse distribution center out in Spartanburg. So. Ah, I know the area. I've tried. I've been out there. Been out to Lowe's, of course, and. Which is someone. It's in the area. Right. And then. And then Spartanburg. We opened up over there.
- [02:53]
Ryan Alford
Yeah. Gsp. Our airport code. Greenville. Spartanburg.
- [03:00]
Luke Peters
We don't even bother with gsp, man. Just flying to Charlottesville. Charlotte.
- [03:04]
Ryan Alford
Come on. GSP is a model of efficiency. I. If I have a 6. I used to fly to New York every week. 6am Flight. I'd get up at 5:30 and be the first one in line on the plane.
- [03:16]
Luke Peters
Oh yeah, yeah. Tiny airport. Tiny airport.
- [03:18]
Ryan Alford
Tiny airport. Almost like flying, you know, private but commercial. Until you get into the plane itself. But Luke, I know you're a former CEO of New Air. People probably know that. They're like, I know that name. You know, like when I first. You first hit my radar of like New Air. I know that name. I know that name. Then I read a little further like yes. Mini fridges. Yeah, yeah, yeah. I remember them. The. You guys like one of the first. Were you the one of the first like big names in mini fridges?
- [03:49]
Luke Peters
In many. Also in wine. So we do like just. Yep. It's the wine, the beer, the cigar. So we cover the fun portable refrigeration categories. Okay. And you put all those together and it's. It's fun. You know, the employees love it. People love like. Like now we've got a whiskey ice maker that makes the ball ice, you know. So these are the fun categories that people can get behind.
- [04:14]
Ryan Alford
Fun refrigeration. I like it. You know, we put the fun in business, you know, like, like to let our hair down a little bit on our show. So I like, you know, you don't naturally go refrigeration and fun necessarily. But hey, the wine coolers, the mini fridges for your Cokes. I mean beers. I mean Cokes. You know, all that stuff. I always think back to Chris Farley. He was doing, you know, Tommy boy. He's like, oh, he got a mini fridge and everything. I put all my beer. I mean Coke. He's talking to his dad.
- [04:45]
Luke Peters
No, we know we had it. It's part of the culture. I mean everybody's responsible, you know. But we had kegerators in there. We testing those out. We had. We've done different, you know, licensing and partnership deals with different beer brands. And so we'll do cool wraps. It. It just, you know, different events that the products will be shown in. So it's Listen, when you show up for work, you got to have fun, too. So it's great. You know, we were very fortunate to be in that fun category.
- [05:10]
Ryan Alford
Luke, how'd you make New Air so successful?
- [05:14]
Luke Peters
That's a lot.
- [05:16]
Ryan Alford
That's a loaded question.
- [05:19]
Luke Peters
There's a lot of luck, and it's a long story, but you want me to take you back to the beginning, then?
- [05:22]
Ryan Alford
Yeah, man, tell me. Let's set the table for the audience. How do we build a 460, $80 million company in sales? Right, right.
- [05:32]
Luke Peters
We did 80 million the last year. Yeah. Over the course of. We did well over half a billion total, but then grew up to that size of a company. Yeah. So what happened was. So the beginning is kind of funny. I come from a big family, so I come from 12 people in my family, okay? 12 siblings and growing up here in Orange County. And it was always just, if you want something, you had to go make it, buy it, you know, fight for it, whatever. You had to kind of, you know, make your own way. Right. Well, anyways, I wasn't that great of a student, but I did finally graduate college and I. But I got excited about science. I became a hazardous waste scientist. So I'm working for, like, a part of the government. And this is after hustling as a kid, right? And it's. It's kind of boring, you know, and all the old guys are like, man, what are you doing here? You're young, you know, come back here to retire. Like, you got to get out in the world. Meanwhile, my little brother was selling stuff online, okay? And at this time, I'm probably, you know, 24 maybe. And he's, you know, I don't know, 18, something like that, 19. And he's selling stuff online, making tons of money, driving a sports car. I'm driving a beat up truck, you know, an hour and a half into la, and I'm like, wait, something's wrong. So I just start burning the midnight oil. I see that H Vac is actually an untapped category. Okay. Back in the day, it was like, you know, the digital stuff was being sold online, okay. And I know you're a marketer, so it's like, even back then, people are selling RAM computer stuff. But this is like 2000 and 2001, right? But nobody's selling anything semi commercial or HIV, nobody. And the people who are selling it, they sucked. Um, and so I just learned H Vac and learned SEO and just stumbled on that category because it showed. Because at the time, Yahoo showed that there was a lot of searches for portable air conditioners. That's literally how I, how I got into this business. And just from the beginning, we were just cash flowing. It, it was the search, it was super easy to show up in search. Um, I don't even think there were paid ads at that time, 2001. There may have been, but you know, early on the paid, paid ads were super cheap. And so we just, it was all D to C up until like 2012. And of course paid ads came in. You had paid ads, you had, you know, all the typical things except social media wasn't that big back then. And so we just kind of grinded D to C earning our customer. But we're like a one sale and you're done because you don't need, you maybe need a fridge and a nice maker or whatever, but you're not like coming back six months later. Right. So it was, you had to be profitable on sale number one. And then what happened was, you know, and this is kind of a big pivot. Was then all of a sudden, you know, I'm ranking top three for all the big terms. And all of a sudden I see Home Depot showing up, Walmart showing up. All these guys Woke up around 2012, okay. And they got big freaking marketing departments. I don't, you know, and I'm thinking, okay. And then of course, you know, your, your paid ads starts getting more expensive and more competitive. And I'm like, whoa, this is, this is going to be a problem going forward. You know, as it is today, D2C is challenging, right. And if you're selling a product and you don't have recurring revenue. So what we did is we just totally changed the whole business and focused. Ever put everything into brand. Okay. Just everything was focused around newer brand. Creating the best brand, the coolest brand, the most trusted. Our art, our motto was the most trusted brand in compact appliance. So we're all after trust, customer service, all of those things. And we sold to those guys. Right. So we're still direct to consumer roots, hustle, understand copy, understand messaging. And we're going against guys who are real slow because they're just, they have no idea how to reach the masses. They just know how to like talk to a buyer. So we were a nice, you know, kind of blend of that. We were actually back, you know, back around 2012 to 2018. We were very unique in that respect. And you know, that's kind of what kick started the growth is selling into these large retailers.
- [09:38]
Ryan Alford
Yeah. That 2012 rings true. Because that's right around, I think when all the, all the big boys woke up, that's when Facebook stopped working organically for the most part. 12, 13, somewhere in there and Google, all the big boys came in. I think they realized where they could get the ad dollars from, you know, versus given the young scrappy guys that rode the train, you know, the end then they let. They know, oh, I can sell a million dollars a month in pay per click ads to Home Depot.
- [10:09]
Luke Peters
Yeah, exactly.
- [10:11]
Ryan Alford
That year.
- [10:12]
Luke Peters
And the big guys don't care. They'll spend whether they're profitable or not. You know what I mean?
- [10:17]
Ryan Alford
So, yeah, it's a whole lot of whack. Like, it's like they gotta hit a certain number no matter what the expense is kind of like the government, you know.
- [10:28]
Luke Peters
That's true, that's true. That's a great parallel. Actually. A couple years ago, up until a few years ago, then all of a sudden they got wise because, you know, they're getting crushed by Amazon and Walmart, so they all had to compete. But yeah, there is that grace period.
- [10:42]
Ryan Alford
In the middle, you know, 20 years. I mean, like, as a leader of a company and doing the marketing that you did and having the growth that you had, when you reflect on the. Both the success and what you learned, are there like. Are there like light bulbs that kind of key points or things that come to mind?
- [11:05]
Luke Peters
Yeah, for sure. So we ended up selling in 2001. Okay. And for me, you know, personally, that was a big thing, you know, because it's like if you sell, you created something that is proven value, and then private equity is coming in and buying. And then I stayed on for a while, and then I was. And then I. And then, you know, I've got a great new CEO running it now, and so I'm able to take time and reflect on it. And. And I would say that there are definitely a couple of things. Like, the first one is when you can afford it. Like as a business leader, as a business owner is getting the best people in and getting some skin in the game for the best people, okay. And then creating a vision and letting them know what that final outcome looks like. So, for example, you know, early on, I probably would have been. I was more tight, you know, because I'm thinking, okay, if I, you know, how much should I share? And then at later on, as I, you know, kind of learn the right way to lead, and there's a lot to it that I learned, but I'm just simplifying it here. It's like when you get good people and you say, hey, let's sell in three years. And if we do, this is what it looks like for you. Like, they're gonna just run through walls. Like there's a huge. Because everybody's motivated by money, okay? It's like, sure, you want people who are just gonna always do the right thing, but you gotta show them that this is what it's gonna look like for you. And they're gonna work their asses off and get there if there's a big payday for them. And they're gonna do things that you could never do on your own. So that was a big one that I learned, you know, as far as, like, getting the right people, I realize early on that can be hard. Like if companies don't have enough scale, like, they can't hire in, you know, that CFO for 250 or 300, or they can't hire that CO. But, you know, you can still prioritize getting the best people over. Saving a few dollars is how I would say for most companies. And then just another quick one is just focusing on margins. You know, too many companies are. They're churning, they're churning revenue, they're churning top line. They're building in lots of expenses into their business system, okay? And they're saying, one day, you know, one day I'll get scale. One day I'm going to get leverage. And that does work for some companies, okay? And especially people who've already done it, they're really smart, and they come at it round two, and they really know how to get to that point. But for a lot of people, that doesn't. It doesn't work. It's like make. It's like before you go, build like a 10 or $20 million company and then try to figure out how to make money, like make money from day one. Because the pro. The thing is that can actually, basically what it's telling you is your brand is not valuable enough to the market. Like, if you're not profitable when you're a couple million dollars at the transaction level, you know, there's a good chance that as you're 10, 15, 20, you still may not be that profitable because the market's telling you, like, this is all we're going to pay for your brand, you know, and so you want to figure that out early on, what do I need to do with my product or service? How do I add more value? How do I stretch these margins? And so that's a huge one right now. I do CEO coaching. And that's one of my main focuses. What are your margins? How can we get creative and really think about your product and big focus on the product.
- [14:13]
Ryan Alford
Talking with Luke Peters, former CEO of NewAir and now executive CEO, coach and mentor. I'll call you a mentor. I already feel like you're mentoring me a little bit here, Luke. I'm like taking notes, middle notes while you're doing it. Luke, tell me you went. I want to go back. There's a lot to unpack. There's a lot of good stuff there. I want to, you know, my, my ears point perked up like four to five times my rate, my radar as a host went off a few different times. And this is why, you know, I do this because I just take so much from like our guests and how knowledgeable they are. But the finding great people where you feel like you should share equity. Give me some attributes that you look for in those people. Like you said, ultimately, like, you got to give them skin the game because everybody's in it. Look, we're all in it for ourselves. They need to be. Then they should be. They should be money motivated. That if they're not, they're probably hard to even motivate, period. But what are like the biggest attributes in key, maybe not all chief officer level, but key component people that you hire. What are the attributes that leaders should look for in those people?
- [15:28]
Luke Peters
Okay, perfect. Yeah. Now, Ryan, Ryan, that's. This is it. First of all, hiring is super hard. I was just talking to a friend yesterday and he's hiring and I gave him a few ideas which we can talk about, but it's still super hard. So here's, here's the ways to like, if you can afford it, work with an executive recruiter for your C level positions. Okay. Because a. And I'm not talking about a regular recruiter and the executive recruiters are super expensive, by the way. They're going to take like 30%, but they're going to do things that you could never do. And they have a network and a pool that they can pull from and they can get people who are better that you would never be able to attract because they're going to, they're going to soften up their ear a bit and they're going to pull them in. Right? Because you're, you want people that might be hard to frankly hire for your company. Okay. Because maybe they have the. Maybe like a younger company, not your company. But I'm saying like the typical company is starting out. It's like they may not have the reputation to pull that type of talent. Right. So, so that's one idea. The other idea is this is something that's a long term play is like first you got to make your place a great place to work. So we had, that was one of my main objectives was win best place to work awards. Because great people want to work for great companies. They don't want to go work at, you know, a crap company and think they can turn it. So you have to, you're selling your business to these great people. So this is a multi year thing. How do I become best place to work? What do I need to do? What do I have to change in my culture? And so you should always be working on that if you're the leader. Because getting talent, it's like sports, you know, it's like you want to attract the best players. You know, this isn't just a one year thing, this is like a journey you're on so you can pull these best players in. The other thing is the specific is when you hire, have they done successfully the job you're asking them to do. So too many times, you know, when we're hiring you, we're saying, okay, well I think they have the aptitude. And now trust me, like that is. It's okay to think that way. But if you're hiring high level vp, C level, whatever it might be, it's like my number one thing is have they already done it? I want someone who's already done it because I haven't done it probably. You know, it's like, dude, I'm just putting a team together. I haven't done all these things. I'm not, I'm not, I'm not able to. I don't have all these connections and know all these buyers. Let's say if I'm hiring a salesperson or if I'm hiring like a, you know, a marketing exec. Sure, I know my marketing. But you know, can they, maybe they've got some skills I don't have. And that's what I'm, that's why I'm bringing them in. So I want someone who's already done it. So those are the things, Brian. And then the other one is just during the interview process, references. So that first of all, it's like very detailed on their track record in their jobs. Super detailed. Put an eye mask on. I mean, I'm kidding. But it's like, don't be, be careful that you're tricked on personality and how much you like the person. It's like, what is their track record been? And then do something called Top Grading, which is a great book. And this is pretty simple. And what it is, is go through all the references. And typically they're gonna. Well, they're gonna give you like their three best references, right? But go through all their jobs and maybe let's say they've had seven. So you say, who did you report to? You get the name of the report, and then later on you've written down all these names. So at the end you say, okay, here's three references, but here's four people they didn't list as a reference. Right? Because they just didn't. And you say, okay, you know, you worked, you reported the Jennifer over here. Can you have. What would Jennifer say about you? First of all, you say, what would she say about you? How would she describe you? They won't lie. They know that now. Oh, shit, you can call Jennifer. So they're going to tell the truth of what Jennifer. And then you go through the list and then you say, okay, great. Can you. And this is, of course, if you like this person, you want to go to the next step, you say, okay, great. Can you have Jennifer call me and have so and so call me. Don't, don't. You're not out there. Like, otherwise take you forever to go get in contact with these people, right? So they're going to do the legwork. And, you know, you put all this together and your odds are improved.
- [19:25]
Ryan Alford
Hey, thoroughness. I mean, at the end of the day, and I've been guilty of this, you know, like, never time. There's an old saying, an old creative director I worked with said, and I drove me crazy. I was a, you know, young account guy. And I'm like, he's just saying that because he wants more time. But he's like, never time to do it right, always time to do it over. That's true. And it's like that with hiring, you know, like, oh, we gotta get them in, gotta get them in. And you know, but it is just takes a. Some thoroughness with which to vet candidates. And I, I love. What would you call that last tactic? Has a name. You said there's a book.
- [20:03]
Luke Peters
Yeah, Top Grading.
- [20:05]
Ryan Alford
Top Grading, yeah. Interesting. Yeah, I like that. I like that. Talk with Luke Peters, former CEO of New Air. Luke, you know, my, my, my radar went off on that first little spiel on all the success you built with New Air and some of the tactics and things that got there. Really interesting going now I'm Going where the brand, you know, like, your differentiation, like, it is amazing sometimes. You know, I've worked with a lot of companies, good, bad and ugly over the years in marketing, and it's real hard to take a. You can't make bad companies good. It's really difficult. You can make the good companies great, but it's really difficult to make that. And I do think, you know, there's a lot of truth to be had and a lot of mirror to be looking in, you know, to really determining if your product, service, or what you do differentiates and stands out and can be made to be, again, profitable. Seems like there's a lot of people that, you know, do things that a lot of other people do, and they just assume that, like, I mean, success will be guaranteed, but it just doesn't happen that way.
- [21:21]
Luke Peters
Yeah, no, that's why it's important early on. Like, I think it's tough because a lot of times people give up too early. So it is really, really tough to say, you know, if it's not working, you got to tweak this. But I guess you should always be tweaking. But too many people, I would say it's a bigger error, is to give up early. So you can't do that. But it's like, at the beginning, you have to be smart and you got to look at your product and have some way to measure your competitive advantage over what the market is offering. I guess I'd say, like that. Think deeper about your competitive advantage and even use things. I mean, there's all kinds of online tools you can use SurveyMonkey, you can use your friends, you could use LinkedIn. There's ways where you can vet that. But often what happens is as you're growing your business, you kind of naturally do that. You know what I mean? The good leaders are naturally, like, you're probably not even thinking about it, but you're learning. You're like, oh, okay, I got the sale here. What copy did I use? Or what pitch was I using? Oh, okay, this is what they wanted. I thought they wanted this, but they actually wanted this. Right. And you're sort of iterating along the way. But if you can do that without making it accidental, like from the beginning, if you could do your basic market research, and this is basic branding. Right. So it's like, what is your position in the market? Okay. And can you create some sort of emotional connection? Now, not every product, a lot of people think, well, like with us with fridges, how are we going to do that? You Know, but you can do it. You can, you can come up with fun ways to create some emotional connection. Because a brand is a feeling that somebody has about you. That's literally what it is. So how do you make more people feel a certain way about you? You know? And that, I think that would be a good. I think the guys, like, I don't drink a lot, you know, but the company, it's like, you know, we're having all these beer partnerships and stuff like that. And the guys. And every year, though, you can even do this in a company. It's like, I'm really not. I don't drink whiskey. I'm, you know, I like my IPA a little bit, but I don't drink a lot. Right. But every year we would. I would joke around and at our party we'd have a shot of Jagermeister. Okay. Everybody hated Jagermeister. Okay. But it was memorable.
- [23:34]
Ryan Alford
I've had flashbacks of you say that, like, oh, Jaeger bomb. That was like, I don't. It just come out when I was in college, like the, you know, mixing Red Bull with Jaeger, like, oh, good idea.
- [23:47]
Luke Peters
But you haven't forgot it. See, so. So, like, I would do that at the urine party because it was fun. It's like everybody would be complaining, ah, Jaeger, no. Why are you too. So it's making the fun memory stamps in people's heads. Like, that's, that's, you know, what I want people thinking about.
- [24:03]
Ryan Alford
Yeah. I think with. People think with their head and they buy with their heart. That's one of my all time sayings with clients. They're like, they get too rational. I'm like, hey, baby, this is, this is all about emotion. You know, emotion moves the purse strings in the wallet. Luke, what was, you know, what was that process like for you guys at Newair? I mean, you know, you're selling fun, like you said, in a way, with what you did. It sounds like you guys found a balance there of the functionality of, hey, the mini fridge, you need it in this tight space and all that. Like, that's a very functional thing. But you brought the fun in somewhere.
- [24:42]
Luke Peters
Yeah, well, you know, early on I didn't. And so that's definitely something I had to learn. Early on, it was about winning eyeballs. So it was about dominating SEO, right? It was like, how do I. You know? And that, that's, that's, that's what it was. Of course it was, it was good delivery, it was being agile. But that, you know, early on, we're selling like Just portable air conditioners, thermostats, fans, humidifiers, dehumidifiers. So if you think of those products, like, you know, you're not buying, you know, like a portable ac and you're like, you're probably not taking a picture of it to your friends. Guys, look what I got. You know, you're not, it's not a shareable product.
- [25:17]
Ryan Alford
Right. I did with my wife. See, I've had a, we have a houseboat and you know, we've upgraded over the years, but we had a portable ac. You know, I'll send it to my wife. Hey, she's happy.
- [25:30]
Luke Peters
You're the customer we need. You're the one we need. But, but, but, yeah. So that, but then I wanted to build the brand. Now we're still selling those things, but then around, I talk about that pivot in 2012.
- [25:41]
Ryan Alford
Yeah.
- [25:42]
Luke Peters
So really want to focus on the brand. And that's where we got deep into wine, into beer, and even into cigar. Even though I don't smoke, it's like my, you know, the guys make fun of me. They take me to like a cigar house and like, I don't even, I'm not even sure how to inhale properly, you know, and they're making fun of me. But people love those categories, okay? It's, they, they want, when they buy one of those, first of all, they search all over YouTube for it. So we, so what we did is we had a cool influencer marketing strategy, right? Because they're like, okay, I want to get a cigar humidor. What do I need to think about? And so they're doing all this research and that's like very top of funnel. And we just want to be showing up at different points in the funnel. And as far as like acs, for example, they might search, you know, what size do I need? They're not going to really watch a 30 minute video on it. They're just going to be like, what are the specs? I need to cool my room. The other ones are really deep into content. And so it worked good for a, for an influencer marketing campaign. And we were one of the first to do it for appliances.
- [26:44]
Ryan Alford
Yeah, I love talking about the funnel. Now everybody wants to jump to the bottom. Hey, you can't jump to the bottom. You gotta be. Somebody's gotta be aware of you, they gotta consider you, they gotta have intent for you and then they buy. Yeah, that's so true. And it's true. We don't want it to be true. I wish it wasn't true. And performance marketing is sort of, you know, spoiled people because, you know, you have the hyper targeting because, you know, maybe somebody's just raised their hand immediately they're looking for X product and you can close them on one ad. But that's just not the reality for most things. And you got to build that T o p a top or T o m a top of mind awareness. It's hard to do. It is hard. I mean, and for. But for your segment, you know, new error is funny you guys did something because again, back to focus group of one here. As soon as I heard that, I knew that. And then when you said the wine fridge, that's when it rang. I knew that's where I associated you guys because if I went into a store and I saw the new AIR logo, I would know that better be like my first. So you guys did something that triggered my brain for that over the last 10 years.
- [27:54]
Luke Peters
Yeah, well, we're fortunate. I mean, we do have in store placements. We're in Home Depot. So we did a little bit of the, you know, the online, you know, the in store, the direct consumer that, you know, show up on all the retailers. But now everybody's doing that, right? So everybody's like in, you know, they're doing the quote unquote multi channel. But I think what, we were lucky. So not every, it's different for different categories, right. And you know, this being a marketer, but it's our stuff. Since it's expensive enough, we can trade it for a video, let's say. Okay. And I know TikTok's hot now, but when I started doing this, it was like 2017, maybe 20. You know, it was early for influencer marketing and we were using the micro influencers. Not micro, but you know, we had criteria, but they were small and it was always the trade and, but our system, yeah, send them a fridge and they're like, okay, cool, you know, we'll do an unboxing and I'll show how it looks. And you just do. Every time you launch a product, you know, we're like, okay, find 25 influencers. And this is what we, exactly what we want them to do. Of course it's gotta be organic and there's rules around what you can do and what they have to say. But yeah, that was, that was, you know, what's funny is that was literally what my marketing was like. You know, there's all these other things I could do. I could, I could write blogs, I could do pr, we could do lots of paid Ads. I'm like, you know what? Just do this one. Because I think it builds the most trust. If you saw someone you follow and they opened up a product, I think you'd kind of, like, trust that more than if you just see some paid ad or something like that.
- [29:26]
Ryan Alford
Well, shameless plug here, Luke. But podcast advertising is the number one trusted medium and advertising.
- [29:33]
Luke Peters
There you go. There you go.
- [29:34]
Ryan Alford
And the festival. There you go. We need a new error. I'm seeing a spot for my energy drinks. You know, I'm just saying.
- [29:43]
Luke Peters
Well, it is because it's sticky, right? So people who listen, they're coming back, and so they're hearing it and they trust. But, yeah, that's a.
- [29:52]
Ryan Alford
That's.
- [29:52]
Luke Peters
That's a good one.
- [29:53]
Ryan Alford
Hey, Luke, so you've taken all you've learned, and now we're teaching others. Right. And so how are we helping? How are we coaching CEOs? What are some of the common challenges and things you're working on with them?
- [30:10]
Luke Peters
Yeah, you know. You know what's fun is that everybody's got a different challenge. So it's. It's. I think sometimes, like, CEO coaches, I don't want to call it an oxymoron, but it's like, it's a. It's an overused term. And a lot of times, some of these coaches haven't even literally started their own business. So for me, like, I want to work with a founder CEO, I can kind of share the same learnings, and I know what they feel. And I think I would say, I would boil it down to, are they working on the right problem? Believe it or not, like, that's a big one. Because, you know, people are in their business, they're. They've. They've gotten to a certain level of success, probably, but it. Now it's hard for them at that, at this point to be super creative now. They just got to keep. Double down, triple down on what they're act, what they currently are doing. And so I can kind of come in and be like, okay, you know, it could be something they're not thinking about. It could be something obvious, but then I'll just hold them accountable and show them how to get from point A to point B. That's. That's one. The other one is a lot of. Especially now, a lot of clients want to exit their business. Okay. And they want to exit, but they're not ready to exit, or they don't realize this is, like, bad news when they hear it, but it's like it's going to take you a couple years to get ready to exit. Okay. But it's better if you start today, right? Because you know if you just go exit, you're going to like lose a lot of value. And so there's a lot of older entrepreneurs, they want to exit. And so that's an area that I in because I sold my company and. And there's a lot of people that can help them exit. But it's different when it's somebody who has done the same thing, sold a business. I'm not a banker, so I talk their language and help them exit. And then the other one is just focus on product positioning and let's think about margin. Other times they have people issues. A lot of times you'd be surprised. People don't have a system they run off of. Their team is not built around goals and metrics, which is, you know, like one client asked me, you know, hey, I need to do employee development. Okay. And so I start working with them and I'm understanding their company and I'm like, you know, the best employee development is just let's set up goal. Every one of your employees should have a goal. And you, that's super simple because that makes it clear why are they literally coming to work? Like if the employee doesn't know why they're coming to work, like, they're not coming in fired up. Every day they're like, okay, boss told me to do this. No, you want employee telling boss. Like, hey, I think I can achieve this. Put a goal around it, let them run with it and then have one on one meetings. Show them you care. Listen, scheduled one on one meetings. So it was like, you know, it's an easy solution for something like employee development. So there's a lot of different ways. And those are a couple examples.
- [32:55]
Ryan Alford
Luke, what's the craziest thing you ever saw as at your company? Like, tell us a fun like or anything crazy like or funny or just out of the box that, that people would get a kick out of, you know, running multi million dollar company like happens. Right. I mean, funny the better here, Luke.
- [33:22]
Luke Peters
Well, I'll tell you, I'll tell you. Yeah, Some of them, I don't know if I can even tell. Okay, something's happening.
- [33:30]
Ryan Alford
That's the ones we want. Luke.
- [33:34]
Luke Peters
You know when you have two employees at a Christmas party, get friendly with each other. Yeah. That can make it awkward the next day when they show up for work.
- [33:46]
Ryan Alford
That never happened, right? I mean, how many employees did you have? How many employees do you have?
- [33:50]
Luke Peters
I Think at that time we probably had 35. There's probably 35 at the Christmas party.
- [33:54]
Ryan Alford
That is pretty obvious. That's pretty. That's not a big number. I mean, like. No, yeah, it's sticking out.
- [34:00]
Luke Peters
Everybody knows everybody at that point. And everybody knows what happened that night. And. Okay, that was one. Another one. Another funny one. I can get more into more detail. Was, you know, you know, I'm in California, right? So this is the land of the stupid lawsuits, okay? It's like, you open a business here, you're going to get sued. It's like, as soon as you hire an employee, get ready to get a lawsuit, right? So I had this one guy, and I always thought he was kind of odd because he told me he's talking about his son and his son is going to. His son is going to mit. And one time I was right next to MIT because we were visiting Wayfair, and I'm like, hey, there's mit. Let's go visit your son. He's like, no, no, no, no, he's probably busy. I'm like, dude, you flew all the way out here. You've been telling me about your son. Let's go visit him. Anyways, he pushes off and I'm thinking, okay, whatever. So we go on do our sales calls. Anyways, down the road, I hear more lies come out of this guy, right? And I'm like, all right, I gotta. I gotta let him go. So. So I let him go. First off, what he does is he immediately writes me back this thing on how I'm, you know, I'm ageist, because he was like over 50 or something. And I'm. And I was like. I was like 45. We're like the same age, but he's like five years older, right?
- [35:13]
Ryan Alford
Yeah.
- [35:14]
Luke Peters
He's thinking about how. Then he writes me this really well written email about how I had been making fake claims to them. They were all fake. Then he walks out the door and he's yelling, everybody, Luke. You said all these things about me. I'm like, this is. I'm literally in the middle of craziness. And then he ends up faking an ER visit in a hospital on the freeway with his wife, helping him to say that this caused a heart attack. And of course it turns into what? You got to settle these lawsuits. Like, this is. I'm like, wow. This is just, you know, of course I have insurance, but I was pissed, man. I'm like, I went to the arbitrary or to whatever it was, arbitration or some. Some, you know, hearing And I'm like, this is complete bullshit. But the judges know it's bullshit, and they all got to just settle and, And, And. And, you know, it was actually kind of sad, too, because it's like, man, that guy just worked here a couple years. It's like, what's he going to do next time he goes to get a job? It's like, why wouldn't you just, you know, go with honor? I'm never going to talk bad about anybody, you know, behind them. It's like he really just screwed himself. But at the time, I mean, that was crazy. It was just like, wow, somebody is such a compulsive liar that they would say these things.
- [36:26]
Ryan Alford
It's. It was definitely a giveaway when he didn't want to visit his own son. He's driving by the university, talk about, like, coming back. You know, he's kind of. I wonder if it's running through his mind going, oh, God, I hope Luke doesn't bring up my son. You know, or if you just. Or if you really just caught him, like, in the moment. He's like, he's on a. He's on a botanist journey. He's in. He's doing a sabbatical in Brazil, you.
- [36:55]
Luke Peters
Know, And I'm just naive. I'm like, optimistic and naive about those things. So for me, it's like I'm the last one to catch these faults. You know, it's like that. That's my weakness there.
- [37:03]
Ryan Alford
Yeah. Any success stories or, you know, maybe not naming names, but, like, with your coaching and stuff, like some transformations or things that you've seen or, you know, things that you're proud of.
- [37:15]
Luke Peters
Yeah, definitely. Well, I'm pretty new. I'm only a couple months into it, so this is. It still is a new thing that I'm, you know, because I sold the company, then took some time off, and then now I'm starting this. But, yeah, it's actually really exciting helping people who, like one in particular, has a vision for a product, and it's a really cool product. This is early stage, and this is something where it's like, you know, it's not really. I'm not. I'm not even charging, you know, for this one because it's like, I'm not gonna. I've. I've made my keep. I'm good. So I'm doing this for fun. And it's not really meant for startups because startups don't really have the money to pay for coaching. But in this particular case, I mean, this guy's got a great product idea, so just helping them along, but he doesn't know how to get it to the next level. And also he's like invested way too much money to get where he is, you know, so it's for, in this case, it's, it's fun because it's holding them accountable. Like, hey, no, dude, if you, you know, you got. He's got a gold mine over here, which is another business which is supporting the failing business. And it's like, no, no, no. You got to get this thing to an MVP minimum viable product. You got to launch this thing. You got to stop spending money on it and helping them get to that point and even manufacture it here in the usa, which is a. Which I think will be a cool differentiator for them. So it's early, but I think this one's got a lot of potential and it's exciting to work with businesses like that to, you know, hopefully get reap the reward of some success in the future.
- [38:41]
Ryan Alford
Luke, other than surfing, what keeps your motor running?
- [38:47]
Luke Peters
Well, I got six kids, so, you know, we're talking about kids beforehand.
- [38:51]
Ryan Alford
You.
- [38:51]
Luke Peters
You got four. You have four boys?
- [38:54]
Ryan Alford
Yep. Oh, yeah, Coaching, coaching. I got basketball practice tonight, you know. Yeah, I coached them all. Yeah, I've coached them all.
- [39:05]
Luke Peters
Soccer, Soccer and basketball. I don't do, I don't do football because the guys get too crazy in football and then baseball. They're never really into it. So, yeah, I do do that. Hang out with the kids. We're doing a road trip this weekend. We're just gonna go up to St. George by Zion, do some hiking. So a lot of outdoor stuff.
- [39:23]
Ryan Alford
There you go. Luke, for our listeners that want to learn more about what you're doing, how you're helping, coaching and all that sort of stuff, where can people keep up with what you're doing?
- [39:33]
Luke Peters
Sure. On LinkedIn under Luke Peters. Follow me there and then check out Apexceo Co. I do a free coaching call. So if someone's got a business and they just want to throw some ideas at me, just schedule a call on there and we'll have a fun conversation. I can probably help you out, you know, in just a short amount of time. Just someone to bounce ideas off of. So I got the free call offer on the website. Apexceo Co. Love that.
- [39:57]
Ryan Alford
We'll have that in all the show notes. Luke, you got a great demeanor. I think you're going to really help a lot of people. You have this approachable, like, practical side. But then there's like this fun like brand. I don't know. I really think people will be lucky to work with you.
- [40:12]
Luke Peters
Thank you, man. I really, really appreciate it. Thanks so much for having me on the show.
- [40:16]
Ryan Alford
You know where to find us. Ryan is right.com you'll find links to all of Luke's stuff. You'll highlight clips the full episode and go over there and subscribe on YouTube. We're growing like bang gangbusters over there. We've got the largest radcat. The Radcast network's the largest podcast network on YouTube. Go check it out and look. We're bringing you value, baby. Like Luke Peters. We appreciate you, Luke. We appreciate you for listening. We'll see you next time on right about now.
- [40:45]
This has been right about now with Ryan Alford, a Radcast network production. Visit ryan is right.com for full audio and video versions of the show or to inquire about sponsorship opportunities. Thanks for listening.