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...
It’s been a while since I shared my random thoughts. Surely you’ve missed these pearls of wisdom (pun intended). Let’s see what’s been on my mind lately.
👉 As predicted, Donald Trump just won the 2024 U.S. Presidential Election. Many people are celebrating, so congratulations to them. Those who supported Kamala Harris must be disappointed, but that's the nature of things—you can’t win every time. Despite opposition from the establishment, Trump still secured the seat with the popular vote. Had this election taken place in Pakistan, Kamala might have reached the White House with establishment support, but that’s another story. There’s hope that Trump might play a role in ending the ongoing war in Gaza.
The situation in Gaza remains dire. People have been displaced from northern Gaza yet again, forced to move from one place to another to escape violence. Innocent lives are being lost in the relentless assault by Israeli forces. Let’s see if Trump can help put a stop to this tragedy.
👉 I’m currently reading Lost and Founder by Rand Fishkin. It’s been an eye-opener, shattering many myths about entrepreneurship and startups. The way the media often glamorizes startups is far from the reality Fishkin describes. He shares his experience as the founder of Moz, and it’s a must-read for anyone interested in starting a business, especially in tech.
👉 Lately, I’ve been exploring TikTok, and I must admit, I’m disappointed with the content quality. It often reflects the lowest denominator—not in terms of financial status, but intellectual substance. The platform is flooded with content that feels like a race to the bottom, creating what could be called a global toil*t of low-quality information. It’s deplorable.
👉 I’ve also been thinking about Gen Z’s slang. Just as millennials had their unique culture and language 20 years ago, Gen Z has developed a whole ecosystem of their own: distinct language, music, arts, and social media habits. I feel a bit disconnected from it all. Maybe there’s something to learn from them, especially for those of us in digital marketing. Staying connected with emerging generations is crucial if we want to stay relevant.
👉 A fascinating concept from the Quran on social structures has also been on my mind. Throughout history, there have been a few superpowers in each era. Think of the Roman and Persian empires, the Arab and Mongol empires, then the Ottomans, British, and Spanish, followed by the U.S. and the Soviet Union, with China now emerging as a new superpower.
It seems that God assigns a nation its dominance based on some mysterious criteria, often providing them with a specific technology that helps sustain their power. The British had the Industrial Revolution, the Spanish were experts in maritime navigation, and America’s dominance comes from the computer, internet, and tech revolutions. I haven’t done extensive research on each superpower’s unique technology, such as that of the Greeks, Romans, or Persians, but it’s an intriguing pattern worth exploring further.
So that's all for now. See you again with other random thoughts next week.
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