The Code To Winning – Episode 073: BUILT, SCALED, SOLD: Turned Grit Into a Mid-Eight-Figure Exit || LUKE PETERS

Host: Kagiso Dikane
Guest: Luke Peters (Founder, NewAir; Founder, Apex CEO)
Date: January 19, 2026

Episode Overview

In this episode, Kagiso Dikane sits down with Luke Peters, an entrepreneur who took a garage startup (NewAir) and turned it into a company with over $600 million in sales before selling it for a mid-eight-figure exit. Luke shares his journey from a humble background, the risks and challenges of building his business, and his insights into hiring, scaling, creating culture, and executing a successful exit. He also discusses his current work with Apex CEO, where he helps other entrepreneurs prepare their companies for growth and exit.

This episode is packed with practical advice, hard-won lessons, and candid reflections on what it really takes to "win" in business, especially when the stakes are high.

Key Discussion Points & Insights

1. Humble Beginnings and Entrepreneurial Spark

• Background: Luke grew up in a large family ("I grew up in a big family... 12. Okay. So we had anything we wanted, we had to go fight and get it." [01:51])
• Early Career: Worked as a hazardous waste scientist after college, following the traditional path ("Wasn't a great student, you know, barely made it through high school. Got excited in college, graduated...government job, you know, fancy title." [00:00], [01:51])
• Shift to Entrepreneurship: Inspired by his younger brother’s early e-commerce success ("He was making a lot of money and I wasn't. And I thought, wow, something's wrong with this picture. I mean, he never even went to school and he was selling stuff online." [02:13])

2. Building NewAir from the Ground Up

• Bootstrapping: Started in a garage, no outside investors, family-run ("Working late at night…My wife at that time…would answer calls during the day as they came in. I built the website at night. She ships stuff during the day." [03:27])
• First Six Months: Became profitable fast, enabling Luke to leave his day job ("After about six months, we were cash flowing so good that I could leave my job." [03:54])
• Market Timing: Began right after the dot-com bubble, which “allowed for opportunity in new startups” ([04:08])

3. Success Factors & Lessons Learned

• Creativity and Adaptability: Regarded as the number one trait for successful entrepreneurs. Businesses must continually solve new problems and pivot ("I think creativity is like the most important...you're constantly having to solve problems...that idea is not so good anymore...you have to go somewhere, another direction, right?" [05:38])
• Talent Acquisition: Importance of hiring people smarter and more experienced than yourself, even at higher cost ("Hire the best people who have already done what you want to do...So you want to hire people that…Smarter than you, elevate you." [05:38])
• Culture and Vision: Building a team that shares your vision is essential ("That's building a culture...everybody has a culture, whether they know it or not...best idea wins." [13:35], [15:14])

Quote: “Best idea wins, okay? So I wanted to hear those ideas. And then, and the thing is, most times the leaders...I wouldn't let those ideas flow...you have to learn, you know, Don'. Right. Because what you say as the leader matters way more than you think it matters.” – Luke Peters [14:20]

4. Competitive Advantage in Product & Marketing

• Niche Focus: Entering categories people talk about, e.g., wine coolers, cigar humidors, and leveraging “talkability” in marketing ([07:02], [07:28])
• Early Influencer Strategy: Used influencers before it was common ("We were the only…specialty appliance company using influencers...eight, nine years ago…get feedback…have somebody videoing, talking about it. Lifestyle, that's what you want." [08:34])

5. Executing a Successful Exit

• Timing: Sold in 2021, fortuitously during a market upswing ("It worked out at a very good time for me." [09:30])
• Transparency: Admitted timing was partially luck, influenced by external forces like COVID and market cycles ([09:24])
• Sale Details: NewAir was sold for around $50 million ([08:40]); after taxes, bonuses, and fees, you never “get that whole check” ([35:38])

Quote: “You don’t get that whole check. You’re paying taxes, you’re paying your advisors...giving bonuses to your team...then you also...reinvest back into the new established company.” – Luke Peters [35:37]

6. Scaling and Plateau-Busting: Advice for Entrepreneurs

• Upscaling Key Indicators:
  • Product with true competitive advantage
  • Strong marketing & branding to communicate that advantage
  • Aggressive sales (“hunters” vs. “farmers”) ([10:15], [11:59])
• When Growth Stalls: Entrepreneurs take on too much and lose focus ("Usually the entrepreneur is the engine...then gets bogged down...you have to keep your competitive advantage on your product." [10:15])
• Leadership: Bringing in people who can make independent decisions is vital as headcount and complexity grow ([17:24])

Quote: “The hardest thing to hire is somebody that can make a decision.” – Luke Peters [17:24]

7. Culture, Loyalty, and Decision-Making

• Building Loyalty: Involve the team in vision-setting; don’t aim to please everyone, but seek team buy-in ([15:35])
• Talent vs. Hunger: Different roles need different profiles; ultimate requirement is leadership and decision-making capability ([17:24])
• Micromanagement Unsustainable: Balance is key ("There’s a lot of problems with CEOs who don’t know what’s going on, too…so it goes both ways." [18:40])

8. Surviving Tariffs and Building Resilience

• Tariffs: Complex and nuanced, often hurting small and mid-size US companies who can’t “play around the edges” financially ([22:50])
• Diversification: Most important element for recession-proofing ("Diversify your revenue streams, diversify your customers...companies are too beholden to one large customer." [26:22])

9. Apex CEO: Post-Exit Work & Helping Others

• Mission: One-on-one coaching for CEOs to increase profits and prepare for exits ("CEO one on one, working directly with CEOs on a performance basis to increase the profits…get them positioned for an exit." [20:00])
• Demystifying Complexity: Focus on simplifying, not complicating, business challenges ([20:00])
• Ideal Clients: Companies with a proven product-market fit, generally a couple of million in revenue and up ([21:48])
• Process: Custom engagements, ranging from short-term consulting to longer coaching/mastermind arrangements. ([31:38])

10. Lessons, Reflections, and Definition of Winning

• Most Missed: The people & camaraderie after selling ("I miss the people the most, I would say. So. We, we...had softball teams, we had basketball teams." [32:38])
• Hardest Moments: Surviving operational crises like major software failures during high-growth moments ("We were miss shipping...thousands of shipped orders. That could have significantly damaged or even ended the business." [41:22])
• Biggest Lessons About Money: Hire the best people and advisors; you need less money than you think to be comfortable ("You need a lot less money than you think...to be very, very happy and comfortable in your life." [37:18])
• On Winning: Focused on using your skills to the fullest and making an impact beyond business ("Hopefully, you know, I can be a good dad and...lead the kids the right way so that, that would be winning...Make a dent in the universe, whatever that means to you." [43:47])

Notable Quotes & Memorable Moments

• On Opening the Business:
  “My little brother never went to school and was selling stuff online, making a ton of money, driving a sports car and I'm driving a beat up Toyota truck… And I thought, wow, something's wrong with this picture.” – Luke Peters [02:13]

• On Creativity:
  “I think creativity is like the most important…because you're constantly having to solve problems.” – Luke Peters [05:38]

• On Influencer Marketing:
  "We were the only specialty appliance company using influencers. We started this strategy, you know, eight, nine years ago." – Luke Peters [08:34]

• On Exit Timing & Luck:
  “I was very fortunate… It worked out at a very good time for me.” – Luke Peters [09:30]

• On Hiring:
  “The hardest thing to hire is somebody that can make a decision.” – Luke Peters [17:24]

• On Post-Exit Feelings:
  “I miss the people the most… But I have a lot of hobbies, so for me, it wasn't like a personal crisis… I just, I was able to surf every morning, so that was nice.” – Luke Peters [32:38]

• On Winning:
  “Whatever your God given skills are, you need to use those to the best of your ability. So, so we're not winning if we're just, you know, taking it too easy, you know, make a dent… whatever that means to you.” – Luke Peters [43:47]

Timestamps for Key Segments

• Garage Startup Beginnings: [01:51]
• Bootstrapping & Early Challenges: [03:27]
• Market Opportunity and Luck: [04:08], [05:11]
• Creativity, Hiring, Scaling Secrets: [05:38], [06:56]
• Competitive Advantage and Influencer Strategy: [07:02], [08:34]
• Sale Details and Exit Timing: [08:40], [09:24]
• Scaling Tips for Plateaued Businesses: [10:15], [11:59], [41:00]
• Building Culture & Loyalty: [13:35], [15:14]
• Handling Tariffs & Economic Challenges: [22:36], [25:47]
• Recession-Proofing & Diversification: [26:22]
• Apex CEO Mission & Process: [20:00], [31:38]
• Biggest Lessons Learned: [37:18], [38:21]
• Camaraderie & Life After Exit: [32:38]
• Hardest Moments as an Entrepreneur: [41:22]
• Definition of Winning: [43:47]

Connect With Luke Peters

“Just head over to ApexCEO.co and we have a form there. You can just schedule a 15, 20 minute meeting with me and happy to talk about your business and help you out.” – Luke Peters [45:00]

Episode full of practical business wisdom—the Code to Winning, in action!