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There has been an excessive amount of emphasis on entrepreneurship and the need for more and more entrepreneurs in the region to assist create jobs for the future of the region. There may be also loads of enthusiasm and encouragement for new entrepreneurs - however are we forgetting something? It is great to have the "spirit" however is spirit sufficient? Do our prospective entrepreneurs know tips on how to take their goals from the thought into efficient operation? Is enterprise planning over emphasised or is it enough? This article will provide an opinion and try to answer these questions and provide a suggestion on what's missing. It's the creator's opinion that Project Management is the missing link that might make the essential difference between success, challenge, and even failure.  
  
The Want for Entrepreneurs  
  
Various sources and international research show that small & medium organizations/enterprises (SMO/SME) have enormous contributions to economies all over the world in term of gross nationwide product and employment. Research within the Center East show that SME contributions in our area are lower than developed countries. Nevertheless, many in government and private sector leadership acknowledge the necessity to change this to be able to deal with the large challenge of the needs for job creation throughout the Arab World.  
  
All of private or government initiatives share in enjoying a role to promote the "spirit of entrepreneurship," however is spirit the only thing that we'd like? What's missing? Let us say somebody quit his/her job to turn into an entrepreneur, then what?  
  
There are too many challenges going through an entrepreneur at present - a few of it is authorized structure and regulations. Other challenges are associated to the worry of failure and the stigma related with that. Even if we overcome the fear of failure we will encounter the challenge of availability of capital. With capital resolved or at the least somewhat resolved, do we've the proper infrastructure to assist the entrepreneur launch the enterprise? Do we have now the mandatory support? How about past the launch? The help that's available (business / cash / logistics / administration / etc.) is available for someone following a dream, however only to realize that realizing the dream is much more difficult than expected. How will we assist the entrepreneur or the small enterprise owner maintain and develop?  
  
Enterprise Planning  
  
Most, if not all, venture capital, foundation, and other sources for funds --- in addition to enterprise schools and MBA programs focus on a marketing strategy as an essential deliverable / requirement to seek funds or start a business. Right here we ask as soon as again: Is the business plan sufficient? It's our view that a 'traditional' marketing strategy will not be enough. Quite a number of business plans, that we call 'traditional', focus on the enterprise facets with a heavier concentrate on operation of the business. The query is: Do these traditional enterprise plans provide a proper deal with the venture (most call a "project") from thought to launch of the enterprise?  
  
The Missing Link  
  
It is interesting to point out that many call a new venture a "project", as we mentioned in the earlier section. We like the word "project," however most definitions of the word "project" mean something that's temporary. So is the venture non permanent? 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" will not be the proper one to make use of for the new business. Allow us to call it venture or business. But to launch the business is strictly what we call a project - the launch project is to take the venture from the thought to operations. Our objective here is not to get into an English lesson; moderately we goal to define the proper use of words in an effort to have the proper context and fully understand the lacking link. So what is this lacking link? Well if launching the business is a project, then how can we manage it? The place is Project Management in managing the launch? The subsequent part will provide a methodology to observe in launching the business.  
  
A Proposed Sequence  
  
Our proposed model will deal with the venture launch from idea to initial operation, using the lacking link - Project Management. Future articles might concentrate on the usage of Organizational Project Administration to help build and maintain 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 explain here.  
  
Enterprise Idea  
  
The business idea is an important section of the project that spans a period from the idea for the venture until an initial resolution 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 might be a passion, an revenue opportunity, filling a necessity, fixing a problem, among other drivers for the business.  
  
This is the time for dreaming, however one has to be careful that the dream is realistic and it is possible to achieve. It is highly risky for somebody to launch a new venture without proper understanding of the challenges and opportunities, although one may argue in rare cases that spontaneous action may also result in good profit.  
  
Therefore, the entrepreneur (small enterprise 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. Nevertheless, in addition to the deal with the financials, competition, market demand, operation and different factors, the entrepreneur must also think about Project Administration including proper Project Management planning. Proper Project  
  
Administration planning contains understanding of the stakeholders and their expectations and requirements, setting realistic time and cost targets, have a good understanding of the project and venture risks (threats and opportunities), in addition to other factors.  
  
Development of the Business Concept  
  
The earlier section emphasizes the feasibility study and the requirement for enterprise planning. With the business basics in place, Project Administration will turn into more necessary and the entrepreneur becomes a project manager.  
  
So what do we do now? The project manager/entrepreneur must think and act per points, two sides of the identical coin. On one side he needs to think concerning the project from concept to initial operations, however he cannot ignore put up project completion, which can be leading and sustaining the business (operations).  
  
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