Hyper V: No Option to Create New Virtual Machine

After selecting my local computer as the virtualization server, there is no option to create a new virtual machine. When I right-click on my server, I only get "Remove Server", "View>", and "Help"
in the drop-down menu. According to the tutorials that I've watched, this is where "New>Virtual Machine..." should appear. What am I doing wrong?
My machine:
Win 8.1 Pro, 64-bit
Intel Core i5-3470
RAM 8192
Graphics: GTX 660

You need to enable Virtualization under CPU / Advance settings in your BIOS.  Your motherboard must support hardware virtualization in order for this feature to be available in the BIOS. If you don't see this option then, your hardware (motherboard)
is not compatible nor support.
Have a look at this http://www.techrepublic.com/blog/windows-and-office/get-started-with-windows-8-client-hyper-v-the-right-way/

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