2 Commas: The $multi-million exit show with Josh Comrie

Most founders assume they’ll be able to sell their business when the time comes. In reality, many are unprepared, and they lose value through complexity, weak systems, and avoidable mistakes long before they ever go to market.In this episode of 2 Commas, I sit down with Jeremy Moon, founder of Icebreaker, to unpack what it takes to build a global brand from New Zealand and then execute a successful acquisition. We cover international expansion, why the “New Zealand advantage” is often a myth offshore, and why hiring local teams matters more than most founders expect.Jeremy also breaks down scaling and profitability, how brand shows up in gross margin, and what changed when he brought in Rob Fyfe as CEO to professionalise the business. We get into exit planning, sale readiness, the M&A process, and how to position a company so it attracts premium buyers and stronger valuation multiples.

Most founders assume they will be able to sell their business when the time comes. In reality, many are unprepared and lose significant value during the process.In this episode of 2 Commas, I sit down with M&A expert and CPA Holli Moeini, author of Finding the Missing Millions in M&A, to unpack why deals fail, how diligence erodes valuations, and what founders must fix long before going to market. We discuss financial readiness, working capital traps, balance sheet risks, and the factors sophisticated buyers evaluate beyond revenue growth.This is a practical conversation about exit planning, business valuation, mergers and acquisitions, and building a company that is truly sale ready, not just profitable on paper.

Selling your home to fund a business is a decision most founders only talk about in theory.In this episode of 2 Commas, Rick Agraval shares the real story behind that moment and the journey that followed. After co-founding his business with his wife, Rick made the bold call to sell their home in order to finance the next stage of growth and keep full ownership of the company.What began as a scrappy, self-funded venture evolved into a fast growing digital marketing and ecommerce growth business. Along the way Rick immersed himself in the mechanics of performance marketing, from Facebook advertising and customer acquisition costs to the systems that drive scalable online sales.We explore the realities of bootstrapping a company, the learning curve of mastering digital advertising, and the mindset required to scale without outside capital. Rick also shares how founder curiosity, relentless self-education, and a willingness to take calculated risks shaped the company’s growth.This is a candid conversation about entrepreneurship, ecommerce growth, performance marketing, and the kind of decisions founders make when everything is on the line.

50 million mandarins processed every single day.In this episode of 2 Commas, Nigel Beach shares the story behind Compac, the New Zealand engineering company that quietly became a global leader in automated fruit sorting.Nigel spent more than two decades inside the business, starting as a graduate software engineer and eventually becoming a shareholder as the company expanded across the US, Europe, and South America. What began as a small engineering firm grew into a global technology company processing millions of pieces of fruit every hour.We explore how machine vision transformed the fruit industry, the complexity of building hardware and software at industrial scale, and the strategic decisions that helped Compac grow from around $5M in revenue to $150M before its eventual sale.This is a founder journey shaped by engineering curiosity, relentless problem solving, and decades of incremental innovation in a surprisingly complex global industry.

In this episode of 2 Commas, I sit down with Stan Murphy to unpack how he turns underperforming businesses into high-growth companies — and why momentum is the single biggest driver of enterprise value.From qualifying as a fitter and turner in Whakatāne to scaling JR Wholesale Meats to $65M in revenue before its sale to Foodstuffs, Stan shares how he identifies distressed assets, restructures broken systems, and engineers growth in mature industries.We explore how businesses spiral up or down, why exit strategy should shape decisions from day one, how diversification protected the company during COVID, and what buyers actually look for when acquiring a business at scale.If you’re 1–5 years away from selling, considering buying a business, or focused on scaling revenue and valuation, this conversation offers practical insight into business turnaround strategy, growth execution, and building a company that attracts serious capital.

The M&A market is moving again. The question is... who’s ready?In this episode of 2 Commas, I sit down with Neil Millar, Partner of M&A at MinterEllison, to unpack what really happened in 2025 and what it signals for 2026.Global deal volume surged back toward $5 trillion, international buyers are re-entering New Zealand, and private equity still has significant dry powder. At the same time, succession challenges, health-forced exits, board hesitation, and slower processes have shaped a complex local market.We explore what’s driving renewed activity, why some deals stall while others move quickly, how corporate carve-outs are reshaping the landscape, and what regulatory shifts like OIO reform and competition law changes could mean for foreign capital.If you’re 1–3 years away from selling, or simply want to understand how market cycles influence enterprise value, this conversation will give you clarity on timing, preparation, and positioning.

He bought 51% of a business that was already going down the gurgler… then the GFC hit.In this episode of 2 Commas, Ray Delany shares the full story behind turning a struggling technology services company into a 5X+ exit. What followed the acquisition wasn’t momentum. It was cash bleed, lost customers, leadership doubt, a global financial crisis, and significant personal upheaval.Ray walks through what actually changed the trajectory. Shifting from chasing growth to building profitability. Taking full ownership rather than leaning on inherited thinking. Rebuilding credibility with customers. Attracting the right people. Moving early to cloud infrastructure. And learning that selling well often matters more than building something exceptional.We also explore the original MailMarshall exit, the realities of services multiples, structuring an earn-out, and why values alignment mattered more than squeezing the last dollar from the deal.This is a grounded conversation about responsibility, resilience, and earning an outcome over a decade.

In this episode of 2 Commas, I sit down with Joaquin Cordero to unpack one of the defining moments of his entrepreneurial journey and the lessons it shaped for everything that followed.Joaquin has built businesses across twelve countries, often entering industries he’d never worked in before. We talk about how trust is built and broken in partnerships, what happens when misalignment surfaces too late, and how founders learn to assess risk beyond contracts and spreadsheets.The conversation moves through building in emerging markets, navigating fractured partnerships, stepping out of operations, and designing businesses that create freedom rather than dependency. Joaquin also reflects on how close calls changed his perspective, why service now sits at the centre of his work, and how he’s learned to treat businesses as assets, not anchors.A thoughtful conversation about judgment, resilience, and playing the long game as a founder.

He started as a police officer, nearly lost everything in his first business, then built and sold a capital-heavy security company before going again.In this episode of 2 Commas, I sit down with Joshua Parsons to unpack a founder journey shaped by early responsibility, hard-earned judgement, and an obsession with solving problems properly. From policing at 17 to bootstrapping Crosbies Security, learning the real difference between revenue and cash, and building a business that could run without him, Joshua shares the lessons most founders only learn the hard way.We also explore how one unresolved failure inside his first company led to the creation of Watchful, a software business now scaling rapidly across international markets. This is a practical conversation about resilience, influence, succession, and building businesses that actually hold value.If you’re thinking about scale, replaceability, or going again after a hard chapter, this episode will land.

Strategy only works when it’s anchored in something that actually matters.In this episode of 2 Commas, I continue the strategy series by going deeper into direction, long-term objectives, and purpose. We start with why self-awareness on its own isn’t enough, and why founders need a clear North Star that aligns with the kind of challenge they are built to take on.The episode explores how BHAGs fail when they’re vague, generic, borrowed, or never truly communicated. Using real examples, including OpenAI, Juicero, and Quibi, I unpack what happens when purpose gets replaced by profit, and why that shift creates confusion, misalignment, and turnover.We also look at how different founder patterns require different long-term goals, why your BHAG needs to demand the right kind of challenge, and how purpose binds ambition, strategy, and team commitment together.A reflective, practical listen for founders thinking seriously about where their business is heading and why it exists at all.

Trying to build a business without clarity is like heading into the bush without a map.In this episode of 2 Commas, I unpack why so many founders feel stuck, exhausted, or uncertain even when the business is moving. Not because they lack effort or capability, but because they haven’t clearly answered two foundational questions: what they want from the business, and what they’re willing to sacrifice to get it.We explore the patterns that show up when ambition and sacrifice are misaligned, why businesses tend to stall at predictable points, and how different founders are playing very different games without realising it. The episode introduces four common founder patterns and explains why strategy only works once you know which one you’re in.A practical, reflective listen for founders who want clarity before pushing harder.

Before getting into goals, it’s worth pausing.This first 2 Commas episode of 2026 is a curated compilation of insights from Linda Jenkinson, Jessie Stanley, and Debra Hall, drawn from different conversations and connected by a shared focus on mindset, ambition, and long-term thinking.The discussion stays away from tactics and frameworks, and instead returns to the internal side of building. How founders think under pressure. How ambition changes as responsibility grows. Why clarity becomes more important over time.A reflective listen for founders setting direction for the year ahead.

This business started with eczema, a barbershop, and a lot of trial and error.In this episode of 2 Commas, I sit down with Shane Young to unpack the long road from mixing hair wax in a flat to building, scaling, and ultimately selling a multi-brand consumer business across haircare, skincare, and natural beauty.We talk about solving your own problem first, learning manufacturing the hard way, surviving near-disasters in new markets, and why owning the hard parts of the value chain became the real source of leverage. Shane also shares what made the business attractive to buyers and how preparation shaped the exit.A candid conversation about resilience, patience, and building value over decades, not quarters.

Most founders fear board meetings. Marc Stöckli documented more than 200 of them and turned the lessons into a playbook for builders.In this episode of 2 Commas, Marc walks through the lived reality behind Totemo’s two-decade journey. It is a story of rebuilding after a fractured founding team, competing early in a market no one understood, narrowly avoiding a disastrous sale to a Ponzi scheme, and finally exiting into a global cybersecurity group.We dig into what strong governance really looks like and why so many founders underestimate the emotional and strategic weight of the boardroom. Marc’s experience across Totemo, Kiteworks and his global leadership role at EO gives a rare window into decision-making at the edge.A grounded, insightful conversation for founders who want to build well and lead well.

Some exits happen fast. James McGlinn spent twenty years earning his.In this episode of 2 Commas, I sit down with James to trace the long arc of building Eventfinda — from coding websites as a teenager, to taking on a government-funded competitor, to ultimately selling into one of the world’s major ticketing groups.We talk about the realities founders rarely share: staying alive when you are under-resourced, the power of one well-timed hire, the discipline required to play a long game, and the emotional shift that comes when you finally hand over the thing you built.A grounded, honest conversation for any founder building something that takes time.Book launch alert! Join me and other founders, leaders, and podcast guests for an evening launch of my book: 2 Commas: The Founder's Guide to Exits, Wealth, and Freedom. ⁠>> Click here to buy your tickets<<⁠Receive weekly business insights and real exit lessons straight to your inbox by signing up for 2 Commas Journal ⁠⁠https://www.joshcomrie.com/subscribe⁠⁠Follow me on LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠www.linkedin.com/in/joshcomrie⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Visit ⁠⁠⁠https://www.joshcomrie.com/⁠⁠⁠ to see how I can help you on your business journey.

You can have drive, passion and grit, but if you’re not solving a real problem for real people, you don’t have a business.In this solo episode of Two Commas, I unpack the foundation every founder needs before thinking about product, market or funding: problem clarity. We talk about why motivation isn’t enough, why solutions-first thinking kills momentum, and the five reliable ways to uncover a problem that actually matters. I share lived examples from companies like Spanx, Dropbox and Slack, along with the patterns I’ve seen after meeting hundreds of founders.If you’re building anything right now, start here. This is the work that turns clever ideas into real companies.Book launch alert! Join me and other founders, leaders, and podcast guests for an evening launch of my book: 2 Commas: The Founder's Guide to Exits, Wealth, and Freedom. ⁠>> Click here to buy your tickets<<⁠Receive weekly business insights and real exit lessons straight to your inbox by signing up for 2 Commas Journal ⁠⁠https://www.joshcomrie.com/subscribe⁠⁠Follow me on LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠www.linkedin.com/in/joshcomrie⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Visit ⁠⁠⁠https://www.joshcomrie.com/⁠⁠⁠ to see how I can help you on your business journey.

You can have all the drive in the world — but if you’re not solving a real problem, you’ve got nothing.In this episode of 2 Commas, I break down the most important question in your entire founder journey: what problem are you actually solving?I explore why motivation isn’t enough, how to avoid building solutions in search of a problem, and the five ways to uncover a problem that truly matters. From lived experience to research, consequence mapping to daily-active-user thinking, this is the foundation every successful company is built on.If you’re building anything right now, start here.Book launch alert! Join me and other founders, leaders, and podcast guests for an evening launch of my book: 2 Commas: The Founder's Guide to Exits, Wealth, and Freedom. ⁠>> Click here to buy your tickets<<⁠Receive weekly business insights and real exit lessons straight to your inbox by signing up for 2 Commas Journal ⁠⁠https://www.joshcomrie.com/subscribe⁠⁠Follow me on LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠www.linkedin.com/in/joshcomrie⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Visit ⁠⁠⁠https://www.joshcomrie.com/⁠⁠⁠ to see how I can help you on your business journey.

He sold his business for millions — and found himself fixing coasters to fill the time.In this episode of 2 Commas, I sit down with Cornelius Boertjens, founder of Catchi, to talk about what really happens after you sell your business. From the grind of building and the challenges of a 5-year earnout to the strange quiet that follows the deal, Cornelius shares an honest look at identity, purpose, and what comes next for founders after the finish line.A grounded, candid conversation about freedom, success, and why so many of us struggle with both once we finally get them.

He had weeks of cash left, then came the call that changed everything.In this episode of 2 Commas, I sit down with Brendan Roberts, co-founder of Nine Spokes and Aider.AI, to unpack one of New Zealand’s most remarkable founder journeys.Brendan shares what it’s really like to build through crisis, recover from near collapse, and ultimately sell twice. We talk about timing, resilience, and how luck usually shows up wearing the clothes of preparation.If you’re navigating growth, pressure, or an uncertain runway, this conversation will remind you what it takes to stay in the game.Receive weekly business insights and real exit lessons straight to your inbox by signing up for 2 Commas Journal https://www.joshcomrie.com/subscribeFollow me on LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠www.linkedin.com/in/joshcomrie⁠⁠⁠⁠⁠⁠⁠⁠⁠Visit ⁠https://www.joshcomrie.com/⁠ to see how I can help you on your business journey.

Building your business is one game. Selling it is another — and most founders never learn the rules.In this episode of 2 Commas, I sit down with Chris Small, Managing Director of ABC Business Sales, the firm behind nearly half of all SME business sales in New Zealand.Chris shares what really drives a successful exit — timing, risk, and what buyers truly value. With data from more than 480 business transactions, he reveals the patterns behind high-value deals, the biggest mistakes founders make, and the five things every acquirer looks for before making an offer.If you’re 1–5 years away from selling, or just want to build a business that’s worth more, this conversation will give you clarity, timing insight, and real leverage for your future deal.Receive weekly business insights and real exit lessons straight to your inbox by signing up for 2 Commas Journal https://bit.ly/47lfcPUDownload the first 2 chapters of my upcoming book, 2 Commas, for free here ⁠https://bit.ly/3WisuYo⁠Follow me on LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠www.linkedin.com/in/joshcomrie⁠⁠⁠⁠⁠⁠⁠⁠⁠Visit ⁠https://www.joshcomrie.com/⁠ to see how I can help you on your business journey.