Episode 31: The Shocking Truth About Small Business Failure (And How to Avoid It)

Did you know that only 50% of small businesses make it to year five? That statistic fires me up! In this solo episode, I’m diving into the real reason so many entrepreneurs struggle—ignoring their numbers. I’ll take you behind the scenes of my own business journey, including a humbling moment when my payroll checks bounced (yes, it happened!). But more importantly, I’ll show you why understanding your numbers isn’t just about finances—it’s about confidence, growth, and finally paying yourself what you deserve.If you're a creative entrepreneur who avoids looking at financials, this episode is for you. I break down the key metrics every business owner should track, how to use numbers to make smart decisions, and why your numbers are just data—not a reflection of your worth. By the end of this episode, you’ll be inspired to take control of your business finances and start making more profitable choices.Meet Your Host: Jennifer Kok has been a business owner for over 25 years and now is a business coach.She turned her first business into a franchise and successfully sold it 20 years later.  She was passionate about building a business and a family at the same time.Today she works with creative business owners who are tired of not getting paid enough for their hard work.  She walks them through the 3-step process she developed to allow them to Create More…Earn More…Stress Less.Get your free guide to grow your businesshttps://nextwavebusinesscoaching.com/3-steps-to-be-instantly-referable/Connect with Jen:  https://nextwavebusinesscoaching.com/🔗 Book a Free Discovery Call to dive into your numbers and learn about my Earn More, Stress Less program! https://link.fgfunnels.com/widget/bookings/consultwithjenkokMy name is Jennifer Kok, and I’m a profit and growth advisor for service-based women entrepreneurs. I help women business owners make smarter, more strategic decisions so they can grow profitably, pay themselves consistently, and avoid burnout.Because the truth is, business owners make decisions all day long, but the ones that really matter are often the hardest ones. Should I hire? Raise my prices? Invest in marketing? Let go of a draining client? Expand, or simplify?Those decisions carry weight, and they can impact your time, your profit, your energy, and your long-term growth.That’s why I created the Focused Growth Collective, a virtual mastermind for women business owners who want support making the kinds of decisions that move a business forward. Yes, we talk strategy, but we also look at the bigger picture like mental load, health, profit, and long-term sustainability.My goal is to help women build businesses that pay them well, support their lives, and still feel worth leading 10 years from now.Connect with me:Website:Facebook:Instagram:LinkedIn:YouTube: