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...
The relationship between digital and traditional marketing is often debated, but it's clear that the two are not mutually exclusive. Traditional marketing tactics, such as print advertisements, billboards, and direct mail, can still be highly effective in reaching certain demographics. At the same time, digital marketing strategies, such as social media advertising, email marketing, and search engine optimization, are becoming increasingly important in today's digital age. One of the advantages of digital marketing is the ability to target specific audiences based on demographics, interests, and behaviors. By leveraging the power of data analytics, businesses can better understand their customers and create personalized marketing campaigns that resonate with their target audience. However, traditional marketing tactics can also be effective, especially when it comes to building brand awareness and trust. While digital marketing has certainly revolutionized the industr...