Do you dream of a work life that falls outside of the typical 9-5 or have multiple passions you want to explore? A portfolio career might be the path for you. Here’s what you need to know.
A morning spent managing a team in a café, then back home to write social media posts for a major client before replying to emails from couples enquiring about your new food business… Whether it’s holding several part-time roles or trying to build up your side hustle alongside regular work, having a portfolio career can be both stressful and satisfying.
Portfolio careers are defined by Indeed as “including different job titles and roles across various sectors”, where you have more than one job at once.
Many people love the variety a portfolio career gives them, with the opportunity to try new things and give space to different interests.
We speak to the experts about how to make a portfolio career work, and how to decide if it’s right for you.
Why choose a portfolio career?
“A portfolio career can be good as an added income stream, a way to create a thriving business with new opportunities and a chance to immerse yourself in your hobbies, passions and interests and make money from them,” says life coach Carole Ann Rice.
Maybe you love helping people in your job as a counsellor but also want to spend part of your day crafting with clay to make ceramics to sell. A portfolio career can give you the opportunity to explore different sides of yourself.
“There are so many different potential benefits, it really comes down to your own motivation and values,” says career coach Hannah Salton. “What else do you want your career to give you?”
If you’re currently in traditional employment, it can help to think about what skills or interests aren’t being utilised in your existing role. Are you craving more creativity? Do you want to make a difference in your community? Think too about what you like and find fulfilling about your current work. This can help you decide whether you want to stay in this role while trying out other ideas at the same time.
Career change can feel scary, but you don’t need to take huge risks to make big changes
How to manage your time with a portfolio career
Let’s face it, most jobs can be stressful, so it’s no surprise that managing more than one role can be a challenge.
“You must be aware of your most important priorities and demands when juggling a portfolio career,” says Salton. “You need to know what is important, what is urgent and when any key deadlines are. Of course, it’s unlikely to run perfectly smoothly all the time and sometimes you might need to cut back or pause certain areas, but monitoring this and being aware of the balancing is vital.”
“Have specific days and times mapped out in advance in your calendar so there is a clear line when you begin and end,” advises Rice. Know how many hours you can realistically dedicate to each role to stop yourself from burning out.
This can also help with competing priorities from the different roles so you can make sure you’re not taking on too much, or find yourself unable to fulfil a work commitment because you’re so overwhelmed by another job. It can take a while to find the right balance, especially when starting out, so regularly assess your workload to make sure it’s manageable.
“It’s important to have defined professional boundaries for your portfolio career,” Rice adds. This includes when you’re open for work and when you’ll respond to clients, and what time you ringfence for yourself.
Money and portfolio careers
Portfolio careers can be a great way to make more money, but it might sometimes mean an irregular income. If you currently work full time, you could consider reducing your hours so you can explore a business idea but still have the stability of reliable pay.
“It’s important to plan ahead and be aware of what financial commitments you have,” says Salton. “What are your monthly fixed outgoings? How much do you tend to spend on any extras? What savings do you have? Set up a monthly cash forecast to help ensure you aren’t going to fall short.”
Keeping good records is key too, especially when you’re managing more than one role. “If doing client-facing work, it’s important to do what you can to ensure timely payments,” says Salton. “You may be able to bill upfront or include any payment requirement in any contracts.”
How to decide if a portfolio career is right for you
Transitioning into a portfolio career can be both daunting and exciting. Salton recommends talking to others who have portfolio careers to get a sense for if it might work for you. Most people are happy to talk about their work, so reach out to a contact on LinkedIn or speak to a friend or old colleague who you know has taken this route.
Portfolio careers might not suit everyone, so it’s about understanding yourself. “Weigh up your own personal pros and cons before diving into anything and see if you can explore and try options out before making any big decisions,” advises Salton.
“Don’t be put off simply because it’s new or different,” Salton adds. “Career change can feel scary, but you don’t need to take huge risks to make big changes. Take it one step at a time and be proud of the progress you make.”
How to thrive in a portfolio career
“You can thrive in a portfolio career when you love all the elements of what you do,” says Rice. “You will find that a portfolio career sates a variety of creative needs, passions and hobbies and many can co-feed into another.” If the roles you have are in different sectors, it’s worth considering the overlap and how each of them nourishes you – and if something isn’t going so well, you need to weigh up whether to keep at it or if something needs to change.
Once you have a portfolio career, you’ll still find ways to grow and develop. “Invest time in reflecting and getting to know yourself well – your values, work preferences, and personal priorities,” Salton says. “Continue to nurture and grow your network, even if you have enough work at the moment.”
A
portfolio career can be incredibly exciting. Take time to figure out
how it fits in with your career goals and lifestyle. If you’re craving
the chance to try new things in your professional life, a portfolio
career is well worth exploring.
Comments