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...
When you hear "digital marketing," what comes to mind? Google ads, sponsored social media posts, maybe even those pesky pop-ups that follow you around the internet? Advertising and paid media indeed play a significant role in digital marketing. However, I can't help but feel a bit angry whenever I come across a job post or content that narrowly defines digital marketing as just advertising. Jobs that harp on advertising are looking for shortcuts, whereas marketing is a long-term process.
Let's set the record straight: digital marketing is not just about ads. It's a subset of marketing, akin to a vast ocean with advertising as just one of its many channels. Imagine you've allocated a budget for advertising. You launch a campaign, hoping for immediate conversions. But alas, your campaign falls flat like a damp, oily cake. Why? Because you skipped the crucial steps of strategizing, researching your audience, building personas, segmenting the market, selecting the right channels, creating compelling ad creatives, refining your copy, and conducting A/B testing. Not to forget, analyzing the campaign data for results. And there are other channels that you can explore, such as SEO, Email Marketing, Mobile Marketing, Branding, Content Marketing, etc.
Marketing is both an art and a science. It's about doing the groundwork before taking action. To achieve the desired results, you must first understand the theoretical aspects and then determine if advertising is even necessary.
In conclusion, digital marketing encompasses much more than just advertising. It's about understanding your audience, crafting compelling messages, and leveraging various channels to achieve your goals. So, the next time you think about digital marketing, remember that it's more than just advertising. What are your thoughts on this?
Check: Marketing Is Not Sales: Let's Settle The Debate
Mini-Course: The Smart Guide to Crypto Trading: Learn OTC Secrets in Minutes
Thought provoking!
ReplyDelete