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There was a substantial amount of emphasis on entrepreneurship and the necessity for more and more entrepreneurs within the region to help create jobs for the future of the region. There is additionally a whole lot of enthusiasm and encouragement for new entrepreneurs - but are we forgetting something? It is great to have the "spirit" but is spirit enough? Do our prospective entrepreneurs know tips on how to take their desires from the thought into effective operation? Is business planning over emphasised or is it enough? This article will offer an opinion and attempt to reply these questions and supply a suggestion on what's missing. It's the writer's opinion that Project Administration is the lacking link that might make the essential distinction between success, problem, and even failure.  
  
The Want for Entrepreneurs  
  
Various sources and global research show that small & medium organizations/enterprises (SMO/SME) have large contributions to economies around the globe in term of gross national product and employment. Studies in the Center East show that SME contributions in our region are lower than developed countries. Nevertheless, many in government and private sector leadership recognize the need to change this to be able to deal with the great challenge of the wants for job creation across the Arab World.  
  
All of private or government initiatives share in playing a job to promote the "spirit of entrepreneurship," however is spirit the only thing that we want? What's missing? Allow us to say somebody quit his/her job to turn into an entrepreneur, then what?  
  
There are too many challenges facing an entrepreneur immediately - a few of it is authorized construction and regulations. Other challenges are associated to the worry of failure and the stigma associated with that. Even if we overcome the fear of failure we will encounter the challenge of availability of capital. With capital resolved or no less than considerably resolved, do we now have the suitable infrastructure to assist the entrepreneur launch the business? Do we've the necessary help? How about past the launch? The help that is available (enterprise / cash / logistics / administration / etc.) is available for someone following a dream, however only to realize that realizing the dream is way more challenging than expected. How can we assist the entrepreneur or the small enterprise owner sustain and develop?  
  
Business Planning  
  
Most, if not all, venture capital, foundation, and different sources for funds --- in addition to enterprise schools and MBA programs deal with a business plan as an essential deliverable / requirement to seek funds or start a business. Here we ask once once more: Is the marketing strategy sufficient? It is our view that a 'traditional' marketing strategy is not enough. Quite a number of enterprise plans, that we call 'traditional', deal with the business points with a heavier concentrate on operation of the business. The question is: Do these traditional business plans provide a proper give attention to the venture (most call a "project") from thought to launch of the enterprise?  
  
The Missing Link  
  
It's fascinating to point out that many call a new venture a "project", as we talked about in the earlier section. We like the word "project," however most definitions of the word "project" imply something that's temporary. So is the venture short-term? We hope not! So is the word 'project' the incorrect one to make use of? Yes and No. The business shouldn't be a project; it is a business, a venture. So to be academic, the word "project" will not be the proper one to use for the new business. Allow us to call it venture or business. Yet to launch the enterprise is strictly what we call a project - the launch project is to take the venture from the concept to operations. Our goal here is not to get into an English lesson; quite we intention to define the proper use of words in order to have the proper context and totally understand the lacking link. So what's this missing link? Well if launching the enterprise is a project, then how can we handle it? Where is Project Administration in managing the launch? The subsequent section will provide a methodology to observe in launching the business.  
  
A Proposed Sequence  
  
Our proposed model will deal with the venture launch from thought to initial operation, utilizing the lacking link - Project Management. Future articles may deal with using Organizational Project Management to assist build and sustain a small business and grow 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 clarify here.  
  
Business Idea  
  
The enterprise concept is a crucial section of the project that spans a interval from the thought for the venture till an initial choice to go ahead and encompass a feasibility study. The idea owner is likely to be the entrepreneur who has an concept for a business that could possibly be a passion, an revenue opportunity, filling a necessity, fixing a problem, amongst different drivers for the business.  
  
This is the time for dreaming, however one has 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, although one might argue in uncommon cases that spontaneous motion might additionally lead to good profit.  
  
Due to this fact, the entrepreneur (small business owner to be) has to study the feasibility of his concept, and for this we think that present enterprise planning strategies are crucial to use at this stage. However, in addition to the focus on the financials, competition, market demand, operation and different factors, the entrepreneur needs to also think about Project Administration including proper Project Administration planning. Proper Project  
  
Administration planning contains understanding of the stakeholders and their expectations and requirements, setting realistic time and value targets, have a fair understanding of the project and venture risks (threats and opportunities), in addition to different factors.  
  
Development of the Enterprise Concept  
  
The sooner part emphasizes the feasibility examine and the requirement for enterprise planning. With the enterprise basics in place, Project Administration will change into more important and the entrepreneur becomes a project manager.  
  
So what will we do now? The project manager/entrepreneur must think and act per two features, two sides of the same coin. On one side he needs to think in regards to the project from idea to initial operations, however he cannot ignore publish project completion, which can be leading and sustaining the enterprise (operations).  
  
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