Financial reports can feel intimidating, especially for founders without a finance background. But understanding the basics can dramatically improve decision-making and confidence. In this practical guide, Rebecca Nankya Ssemugabi breaks down how to read a balance sheet in simple, everyday language, supported by a hands-on balance sheet generator you can try yourself. M ost founders don’t struggle with running a business. They struggle with understanding the numbers behind it. And few reports feel more intimidating than the balance sheet. But here’s the truth: a balance sheet is simply a snapshot of what your business owns, what it owes, and what’s actually yours at a specific point in time. The Balance Sheet in One Line Every balance sheet is built on one simple equation: Assets = Liabilities + Equity Assets are what the business owns Liabilities are what the business owes Equity is what belongs to the owner(s) If this equation balances, the balance sheet makes sense. A Simple Exa...
It is very heartening to see that many people are producing content on social media. Whether it is Facebook, Instagram, Linked In, Twitter, or their new cousin TikTok, we see loads of content published daily. Social Media has become a powerful way of communication - mass communication. But these content producers are not aware of the concept and terminologies used in the field. Similarly, they struggle with advertising or promotion too. Both are part and parcel of the communication process. to help them, I have written a small guide below on how they can use the advertising properly. Almost all social media platforms have some promotion or advertising mechanism. This simple process will work with all of them. This plan is called 5 M's of Advertising. These M's are Mission, Money, Message, Medium, and Measurement. Mission: It is where you decide your objectives. What do you want to achieve through advertising? The 3 basic reasons are to inform, persuade, and remin...