1. How do I draw up a business plan?

An idea with a good business plan has a better chance of succeeding than a brilliant patent without a business plan. If you want to patent your idea and develop it commercially, a business plan is absolutely necessary.The purpose of a business plan is to convince others to support your idea and unlock resources available to them in order to exploit your idea successfully. Financing or venture capital are typical examples of such resources and the people who make these decisions about the allocation of venture capital have strict requirements to convince them that your idea might possibly be a commercial success. Your business plan will probably also compete with similar plans for the same resources therefore a professional approach is the only way of dealing with competition. A good business plan will include at least the following:

Introduction 
Description of business (overview of industry, products, production processes)
The market (competition, size, clients, market trends)
Finances (income statement, expenses, cash flow statement)
Supporting documentation (marketing plans, etc.)

It will however be to your advantage if your projections are realistic because the people who will analyse your business plan are au fait with identifying unrealistic submissions. Even is you do not require the assistance of any other person or institution, it is still expedient to draw up such a plan. This exercise compels you to approach the whole idea strategically and consider all the options before you attempt something that is not feasible.

Very good software is available which can assist you to draw up business plans. The advantage of these programmes is that input values can be adjusted continuously to take different scenarios into consideration. OIP can assist staff and students at Stellenbosch University to draw business plans. The (former) SBDC has compiled Guidelines for Compiling Business Plans.