During the course Introduction to Business Design I was introduced to several aspects of the business area. I learned about how to do market analysis, about IP’s, filing for patents and how to create a business model canvas. Also, in the courses Design Innovation methods and Interdisciplinary Innovation I learned about how to fill in a business model canvas and formulate the value proposition.
During my Final Bachelor Project, I did a small market analysis in products created for children with Cerebral Palsy. I also did research in how many children have cerebral palsy. In this market analysis I found no products similar to my concept. By doing this, I knew that what I was designing, did not already exist, then my concept would not be unique.
Next to doing a market analysis, I did research in what ways my product could be sold. One possibility is to see if the health insurance companies would be willing to cover the costs. When I was looking into this option I noticed that it is a web of laws, certifications and rules. Eventually I established multiple possibilities of which I chose one which I thought would be best.
I also created a business model canvas of my product with the help of the knowledge I gained in the electives I followed. By creating a business model, you have a complete overview of how your business would look like, what you still need to do and who exactly your clients are. Such a business model is a good way of communicating what exactly your business is to potential investors.
At the beginning of my studies I thought of this area as something you needed to do. But now that I really looked into it during my electives and my Final Bachelor project, I realize how valuable it is to have skills in this area. If you are designing something, without looking at the business aspect, it can be the case that you are designing something that no one wants to buy and use.