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...
These are some of the stories that I wanted to share with you in no particular order.
1. The first story is about a Pakistani engineer who created the fastest car engine. We have an immense talent in our people. We just need the right environment and opportunities.
2. This stood out to me because I am interested in this subject. Business relationships need integrity and professionalism. If you are dealing with a more professional individual or organization, then you should buy from them (if you want, obviously). You are not obliged by religion to buy only from people of your faith.
3. This post resonated with me because the way 'hard work' is glamorized. I am not saying that you should not work hard. What I am saying is that it is portrayed as an entrepreneur you should follow a certain standard of overwork to be successful. In my opinion success is not a goal, it is a process. You should have fun along the way.
4. This is to reassure myself. I was recently more concerned about the blog growth, the numbers, visitors, etc. I realized that good things take time. You need to be a bit patient with your blog, business, or startup.
5. These are a power pack of wisdom. I was also thinking that somethings are hard (e.g., workout) but at the end of the day they turn out to be good (e.g., you get 6-packs). Similarly, the choices are not easy anyway like this line: Obesity is hard, Being fit is hard. Choose your hard.
6. This is a fun fact. It shows how far we can go to satisfy our curiosity!
7. This story from Palestine highlighted that it is a human crisis not only a Muslim issue. People of all faiths have been affected by Israeli aggression.
8. We need to unlearn what we have learned about success and failure. Unlearning is as important as learning a new thing.
9. This is for aspiring writers. We just need to internalize this fact that we all write something, from grocery to to-do list to letters (Although I am not sure people still write letters) to emails. Writing is fun and we all have something to share with the world. Nothing should stop you from expressing yourself.
10. I liked this carousal because it is not talking about some outlandish tips. These are all doable things both for a beginners as well as seasoned marketers.
That's all for today. I hope you will enjoy these posts as I did reading them.
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