In more specific, I'd like people's idea on the following hypothetical scenario:
I am planning to open a near shore IT development company and "outsource" projects to Bulgaria, or hire developers in Bulgaria to work for UK companies remotely (with skype etc).
Now, do I hire people first and then try to find clients or the other way round?
What if I've hired people and haven't found clients? Or, what if I've found clients, and have no people yet? I can't have my clients on stand by!
Find clients first and outsource the projects on freelance websites (Elance, oDesk etc.) that can deliver you with freelancers for those projects very fast.
This involves no full-time contracts, just per-project payments.
Then, when you have more clients open an office in Bulgaria with full-time employees.