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There was quite a lot of emphasis on entrepreneurship and the necessity for more and more entrepreneurs in the region to help create jobs for the way forward for the region. There is additionally lots of enthusiasm and encouragement for new entrepreneurs - but are we forgetting something? It's nice to have the "spirit" however is spirit enough? Do our prospective entrepreneurs know easy methods to take their dreams from the concept into efficient operation? Is business planning over emphasized or is it sufficient? This article will offer an opinion and attempt to reply these questions and offer a suggestion on what's missing. It's the author's opinion that Project Management is the lacking link that could make the crucial difference between success, problem, and even failure.  
  
The Want for Entrepreneurs  
  
Varied sources and international research show that small & medium organizations/enterprises (SMO/SME) have huge contributions to economies around the globe in term of gross national product and employment. Research in the Center East show that SME contributions in our area are lower than developed countries. However, many in authorities and private sector leadership acknowledge the need to change this with the intention to deal with the large challenge of the wants for job creation across the Arab World.  
  
All of private or authorities initiatives share in playing a job to promote the "spirit of entrepreneurship," however is spirit the only thing that we need? What is missing? Allow us to say someone quit his/her job to change into an entrepreneur, then what?  
  
There are too many challenges going through an entrepreneur right now - some of it is legal construction and regulations. Different challenges are associated to the concern of failure and the stigma related with that. Even when we overcome the concern of failure we will encounter the challenge of availability of capital. With capital resolved or at the very least somewhat resolved, do we have now the correct infrastructure to help the entrepreneur launch the enterprise? Do we now have the mandatory help? How about past the launch? The support that is available (business / money / logistics / management / etc.) is available for someone following a dream, but only to realize that realizing the dream is far more difficult than expected. How can we assist the entrepreneur or the small enterprise owner sustain and grow?  
  
Enterprise Planning  
  
Most, if not all, venture capital, foundation, and different sources for funds --- in addition to business schools and MBA programs concentrate on a business plan as an essential deliverable / requirement to seek funds or start a business. Here we ask as soon as once more: Is the marketing strategy enough? It's our view that a 'traditional' marketing strategy shouldn't be enough. Quite a couple of business plans, that we call 'traditional', focus on the enterprise aspects with a heavier deal with operation of the business. The query is: Do these traditional enterprise plans provide a proper concentrate on the venture (most call a "project") from thought to launch of the enterprise?  
  
The Lacking Link  
  
It's interesting to level out that many call a new venture a "project", as we talked about within the earlier section. We like the word "project," but most definitions of the word "project" mean something that's temporary. So is the venture momentary? We hope not! So is the word 'project' the mistaken one to use? Yes and No. The business is not a project; it is a enterprise, a venture. So to be academic, the word "project" just isn't the proper one to use for the new business. Allow us to call it venture or business. But to launch the business is exactly what we call a project - the launch project is to take the venture from the thought to operations. Our objective here is to not get into an English lesson; slightly we aim to define the proper use of words with the intention to have the proper context and fully understand the lacking link. So what's this missing link? Well if launching the business is a project, then how can we handle it? Where is Project Management in managing the launch? The following section will provide a strategy to follow in launching the business.  
  
A Proposed Sequence  
  
Our proposed model will concentrate on the venture launch from concept to initial operation, using the lacking link - Project Management. Future articles might give attention to using Organizational Project Management to help build and maintain a small business and develop it.  
  
The proposed model, which is derived from Customizable and Adaptable Methodology for Managing Projects™ it isa project life span model that divides the project life span into three distinct phases; which we explain here.  
  
Business Idea  
  
The enterprise idea is a vital phase of the project that spans a interval from the concept for the venture until an initial choice to go ahead and encompass a feasibility study. The concept owner is likely to be the entrepreneur who has an concept for a business that may very well be a passion, an revenue opportunity, filling a need, fixing a problem, among different drivers for the business.  
  
This is the time for dreaming, but one needs to be careful that the dream is realistic and it is feasible to achieve. It's highly risky for someone to launch a new venture without proper understanding of the challenges and opportunities, though one might argue in rare cases that spontaneous motion may additionally result in good profit.  
  
Therefore, the entrepreneur (small enterprise owner to be) has to study the feasibility of his idea, and for this we think that present enterprise planning methods are essential to make use of at this stage. However, in addition to the concentrate on the financials, competition, market demand, operation and other factors, the entrepreneur needs to additionally think about Project Management including proper Project Management planning. Proper Project  
  
Management planning includes understanding of the stakeholders and their expectations and requirements, setting realistic time and price targets, have a fair understanding of the project and venture risks (threats and opportunities), in addition to other factors.  
  
Development of the Business Concept  
  
The sooner section emphasizes the feasibility research and the requirement for business planning. With the business fundamentals in place, Project Administration will change into more vital and the entrepreneur becomes a project manager.  
  
So what do we do now? The project manager/entrepreneur needs to think and act per two points, two sides of the identical coin. On one side he must think in regards to the project from idea to initial operations, however he can't ignore submit project completion, which would be leading and sustaining the enterprise (operations).  
  
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