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...
Recently, I had an epiphany regarding job interviews. After one interview, I was told that I appeared uninspiring. I admitted this, but I also pointed out that many people struggle with verbal communication - millions of introverts, to be precise, who find it challenging to articulate their thoughts.
The idea behind interviews is that candidates will clearly detail their experiences, skills, and qualifications when asked. It relies on the assumption that each candidate will verbally reveal this information without any hiccups, and the person who expresses it most effectively will get the offer.
However, this concept is flawed from the foundation. Verbal communication is just one aspect of communication. When we learn any language, we actually develop five skills: speaking, listening, reading, writing, and comprehension. A person may be adept at writing but struggle with verbal expression, and vice versa.
Even the most confident and expressive individuals can go blank during interviews when they are stressed or nervous. Interviews can assess candidates' ability to handle pressure but not necessarily their overall suitability. Instead of a verbal interview, you can take a written interview or test. I don't think there is any hurdle in a written interview, as most on-the-job communication happens over Email, Slack, MS Teams, WhatsApp, etc.
As the saying goes, "Never judge a fish by its ability to climb a tree." But when you do, most of the time, the monkeys end up at the top!
#JobInterviews #CommunicationSkills #Introverts #VerbalCommunication #PressureHandling
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