We are all in love with the idea of running a business and becoming big shots in the corporate world. However, all that fades away when the time comes for pulling up our sleeves and putting our back into doing the work that needs to get done.
Well, that figuratively speaking for the most part. Unless, of course, you are into a business that requires you to do some manual labor. Be that as it may, the statement remains nonetheless truer.
Most of us fantasize about the idea of running a business. Yet we have little to no understandings about the dynamics involved in running a business. We do not understand the tools of trade, how they operate, and how best to leverage them.
As Afrikagora, we have endeavored to give you access to tutorials about business, real estate, and stock markets, among other knowledge of creating wealth.
In that same spirit, today, we are going to look at some of the basic terms that you, as a business person, ought to have a good grasp. These terms are Asset and Liability.
Thanks to Victor from VeUniverse, we are going to take a crash course in what these two terms mean, and how you can leverage on them to scale up. So I suggest you sit back, relax, and click on the video below to get some ‘business 1o1 course on assets and liabilities.’
After watching the video above, we hope you are now clear on what an asset and a liability is in your business. Naturally, you want the scale to tip more towards the assets sides instead of the liability. Otherwise, things will be looking gloomy for your business, and odds of closing shop increase tenfold.
For more tips like this, be sure to keep tabs on our magazine section of the site to stay informed.