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...
If you're not living under a rock, you must have seen one of your friends, relatives, or acquaintances doing weird antics before their mobile phones 📱. Despite their freaky shenanigans, they're raking in money 💰. Yes, you guessed it right. They are the Social Media Influencers. They can be found on all social media platforms, from Instagram to YouTube, making kooky dance videos on TikTok, sharing snaps, or expressing opinions on Twitter. Welcome to the world of Influencer Marketing. Businesses have discovered an effective advertising and marketing channel. In this article, we'll be exploring the future of Influencer Marketing in 2023: outlook and best practices. Let's keep things brief and to the point so we don't get derailed from the topic. Here are some quick facts about Influencer Marketing: According to Influencer Marketing Hub, the global influencer marketing industry is expected to reach $21.1 Billion in 2023. Brands worldwide are considering allocating 4...