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...
Welcome to the exciting world of freelancing! 🌟 Whether you're looking to escape the 9-to-5 grind or seeking new opportunities, freelancing offers incredible flexibility and potential. Here's a simple guide to help you get started on your freelance journey. Basics of Freelancing: How to Start Your Journey Welcome to your freelancing journey! Discover the steps to kickstart your freelance career. What is Freelancing? Working independently on various projects. No long-term commitment to a single employer. Freedom to choose clients and assignments. Know Your Strengths Assess your skills and expertise. Determine what services you can offer. Match your skills to market demands. Showcase Your Work Gather samples of your best work. Create an online portfolio or website. Highlight your achievements and experience. Pricing Your Services Research industry standards. Decide on hourly rates or project-based pricing. Be transparent with your clients ...