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What a “target audience” could look like

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Part of any business plan is a clear definition of the company’s target audience. I don’t have one of those yet and need it very soon. I am trying to come up with a good description and want to run it by you for feedback. The more specific it is, the easier it will become for me to create products and services for this audience.

While still a draft, this is close to what I’ll put to paper and make official soon. These are the people I want to help:

The offering targets small customers. They are private individuals that want to become professionally independent. They want to earn a second income or replace their regular job with self-employment.

Customers are between 20 and 40 years old and of any gender. They are business fluent in English and have a professional education and/or a degree. They work (or have worked) as a programmer or product manager in a field related to computer science.

They live in a medium to large city. The COVID-19 pandemic has removed their need to commute. This has led them to favor location independence, because of which they would like to move to a suburb in a few years. The likely return of their commute in the coming months prevents them from moving now.

Target customers have a low cost of living, which they would like to finance autonomously. They prefer time spent with their family over climbing a traditional career ladder. They want to become financially independent long before reaching retirement age.

The offering also targets professionals that work for an hourly or daily rate. This includes those with a side business, freelancers, and agencies. The number of hours they have available limits their potential income (“time for money”). They want to offer products to supplement or replace their time-bound income source.

What do you think, does that sound specific while also targeting a large enough market?

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