Future-proof your career and build your career portfolio
Discover how the concept of a Portfolio Career, popularized in 1994, is more relevant than ever in our fast-changing job market. In this article, I will cover the flexibility, diversity, and income control of having multiple income streams. It's a call to action for everyone, especially mid-career and pre-retirement professionals, to explore a work-life aligned with personal strengths, interests, and lifestyle. Embrace the world of meaningful work and chart your path!
A portfolio career involves monetizing your skills in many ways and having multiple income sources rather than a single job at one company.
The concept is not a new idea. Management guru Charles Handy popularised it in his 1994 book The Empty Raincoat.
💥 What are the benefits of this approach? Flexibility, Diversity, Control.
Flexibility
→ Say goodbye to fixed dates for time off
→ Choose whether to work in an office or not
→ Traditional 9-5 schedules are a thing of the past
→ Forget about being limited to just two weeks of vacation
→ Embrace the freedom to work in any country you desire
You decide when, where, and how you work.
Diversity of Work
In a portfolio career, you do several jobs.
→ You avoid repetition
→ You avoid getting bored
→ You create your challenges
→ You decide on your growth
→ You plan your own career goals
→ You avoid professional burnout
Control over Your Income
When you enter the #gigeconomy, your income might fluctuate and won't be the same every month, but it allows you to not depend on someone else to decide how much you will make.
→ If you want to earn more, you scale up
→ You are ok to earn less, you scale down
→ You want to work 6 hours a day - you do that
Other benefits
→ Work that feels meaningful to you
→ Work aligned to your lifestyle and interests
→ Work with your well-being front and center
According to Statista, over 50% of all US workers will be doing at least some form of freelancing by 2027.
According to Forbes survey of individuals 18-64: 52% of workers said their professional ambition isn't tied to being part of a company.
A portfolio career might not suit you, if
→ You struggle with effective time management
→ You prefer the security of traditional employment benefits
→ You expect immediate results; this approach requires time to develop
→ You rely heavily on external motivation and recognition for your efforts
→ You find it challenging to juggle multiple tasks or roles simultaneously
💥 How to start?
Design a core of the portfolio based on your expertise from the current role aligned to your passions and interests – this should cover your bills and fill the majority of your time.
Fill the remaining time focused on your fundamental interests, side projects, passion projects, and side hustles. These are things you can scale up or down quickly.
Build your brand and the right network in the process.
Start at least a year ( ideally longer) before you leave your full-time employment; it will take time to acquire needed skills and certifications.
Learn basic principles of marketing – you will need them to launch your new career.
Network with the professionals in your future industry and those who have developed their portfolio careers.
Who is this for? - Everyone.
Mid-career professionals - looking to re-define their next chapter
Close to retirement professionals - not interested in a traditional retirement
Any professional from any industry can design a portfolio career. It is not limited to creatives or content creators only.
My Final Thoughts
There is no one size fits all or one recipe on the right way to do it. Each portfolio will look different and will be unique as it's based on your strengths, your interests and passions, your lifestyle and desires as well as a realistic view of the opportunities you can tap into based on where you live today and the network you have access to.