Entrepreneurial reflections and crystal ball predictions

At the end of my first year ever without a "proper" job in a multinational American company but as an entrepreneur it is somehow time for checks and balances 2010 and read the crystal ball for 2011.

At the dusk of 2009, about 12 months ago, my life was best described as following:

• A very well paid job in a very reputed American management consultancy company (McKinsey & Company)
• A 70 - 80 hours' work week
• A very frequent flyer card with most of the common airline alliances
• Inspiring intellectual challenges on a daily basis
• Very frequent interactions with really smart people
• No time for my family
• The desire to become an entrepreneur without knowing the product/service to sell
• A rucksack of prejudices and fears of what the entrepreneurial life would bring from a private, professional and financial point of view
• Some money to invest and spend
• A passion for Outsourcing, Offshoring and all the twinkles around it

Life has certainly changed over the past 12 months, however by far not as dramatic as my rucksack was predicting. Here is how life as an entrepreneur looks like,

• A passion for Outsourcing, Offshoring and all the twinkles around it
• The ability to spread the word where- and whenever I like or above all when I am invited (e.g.: CIS and CEEOA)
• My own company (no reputation and not too well paid yet) with an inspiring and passionate network of partners, suppliers, customers and advisors
• A new business model of how to sell and serve nearshoring products to SMEs
• Business-process-as-a-service for finance and accounting
• First customers, who believe, this can take off
• Multinational suppliers, who believe, this can take off
• The desire, passion and wish to take this off
• Funds from external investors to support the ramp up
• The aspiration to create the largest regional BPO service provider within the next 5 years
• A 60 - 70 hours' work week with the ability to spend time with my family on a nearly daily basis
• All the frequent flyer cards from last year with (hey, they did not take it away from me) with the addition of a German low cost carrier one.

Overall, not one minute of regrets in 2010 to exchange a decade of corporate life with the first steps as an entrepreneur. My professional wish list for 2011 includes, that my company will continue ramping linear to its 2010 start and that we are seeing increased willingness from SMEs in the German market to accept offshoring as a lever to improve cost and quality. In addition my crystal ball tells me the following:

• Bigforsmall will be rebranded in Q1 2011 and receive a more serious name
• We will reach revenues scratching the million.
• Maturity of outsourcing services will not reach levels shown in enclosed video in 2011, however do so in 2012
• The industry will be worth USD bn 102,45 at the end of 2011
• The predictions about the outsourcing industry from HfS make serious sense. Here they are. 

Before reality of 2011 will tell us about the (non-)sense of predictions, let me wish you a prosperous, healthy, passionate and exciting 2011 ahead. May the force be with you.