Portfolio Careers - Is It For You?

by Catherine Twiss

So you'd like to call the shots and be master of your own destiny, have control over where and when you work and inject some variety into your life? Then it sounds like a portfolio career might be right for you.

What is it?

A portfolio career comprises of multiple part-time jobs which can include part-time employment (with one or more employer), temporary/contract work (with one or multiple employers), freelance and/or self-employment with a number of different employers. They're usually built around a collection of skills and interests with you firmly in the driver seat. When it comes to flexibility, variety and freedom nothing delivers like a portfolio career. So how do you go about building one for yourself?

Building a portfolio career:

  • Know thy self. To effectively have your own portfolio career it's absolutely vital to have an intimate knowledge of your strengths, weaknesses, skills, hobbies and interests. If you haven't done so already completing Who Am I our free e-booklet is a must. Review your employment history - are there common threads running through your past. What work or tasks have you excelled at; what do you enjoy; what can you get paid for?
  • Be prepared to engage in masses of self-promotion. Don't like blowing your own trumpet - get used to it or abandon the idea of a portfolio career!
  • Have a plan - not just a wishy washy plan of "I want to have a portfolio career" but a detailed business plan outlining your strengths, weaknesses, opportunities and threats (SWOT analysis), what jobs/work you are going to chase or offer, what's your target market, how much are you're going to charge for your services etc (don't forget to factor in superannuation, GST, tax etc).
  • Network like your life depended on it (and your portfolio career certainly will!). If you're uncomfortable networking see 2 above - forget portfolio careers.
  • Get organised. To have a successful portfolio career you'll need to be super organised and have systems in place to manage the multiple tasks/roles you'll have.

Portfolio careers are not for everyone:

Honestly answer the following questions before taking the plunge:

  • Is your personality compatible with a portfolio career i.e. are you a risk taker or risk adverse?
  • Do you work well under pressure; can you cope with stress and uncertainty?
  • Can you afford a fluctuating income, unpaid leave and holidays, no superannuation contributions etc - Can you afford to be without an income for a period of time and if so how long?
  • How are you going to keep your skills and learning up to date to ensure your ongoing marketability?
  • Will you be able to cope with the isolation sometimes associated with portfolio careers?

If you've answered yes to most of the key questions above then maybe it's time to take the plunge or at least start some preliminary research into becoming that master of your own destiny you've always wanted!!!

Already have a portfolio career? Share your experiences and blog us here

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