before building a web service(cant see iis.mmc)

[Teenzonez]

Hi
Below im adding part of the steps i have to do before building a web service:

Before building a web service, a virtual directory or web application must be created using IIS. You can do this by loading the IIS snap-in with MMC (start -> run -> "mmc" -> console -> open -> c:\winnt\system32\inetsrv\iis.mmc), right clicking on your web site and choosing new -> virtual directory.

Here im not able to find the iis.mmc file in the inetsrv folder.
The inetsrv folder does not contain such a file. Can i find it from anyother folder?
And also wat they mean by this 'your web site' in the last line of the above pasted paragraph?

Regards
TeenzoneZ