When I was a kid, I loved to page through the toy catalogs that came in the mail at Christmastime. I made a list of every toy I wanted from Santa. Likewise, small business owners have long wish lists of items that would make life easier and the business more prosperous. Having cash on hand to turn wishes into reality requires a steady, strong cash flow. One way to improve cash flow is to increase Days Payable Outstanding. Days Payable Outstanding, commonly abbreviated as DPO, is a financial ratio that shows the average days it takes for a company to…

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Buyer Persona: Current Client/Outsource

Julia runs a consulting agency in Green Bay. After five years of building her customer base, she has an overall picture of what type of customer is the most profitable to work with. Moving forward, Julia would like to work with more of these types of “A-List” clients. They’re a good fit for her agency’s capabilities, and they’re making her money. Thus, Julia combines the information she knows about her ideal customer. By doing so, she creates a customer persona. A customer persona is developed by compiling the demographics that top customers share: