WHY PORTFOLIO CAREERS MIGHT JUST BE THE NEW "IT" THING IN JOBS

WHY PORTFOLIO CAREERS MIGHT JUST BE THE NEW "IT" THING IN JOBS

When I worked in the corporate world, it was really easy to answer the question: "So, what do you do?"

I had defined boundaries and I knew my role, so my response was simple and singular.

These days, the question's much harder to answer, and I find myself making this uncomfortable face and hesitating. It's not that I don't enjoy what I do, but each time I respond, I anticipate the confused looks that ultimately follow.

As you know from reading this blog, I'm a Career Coach, and I work in a private practice with early- to mid-stage professionals as they pursue careers that leave them fulfilled. But that's not all that I do. I'm also a marketing consultant for small businesses. I do contract resume coaching for a start-up. I'm in the running to be an adjunct professor starting in the fall, and once in a while I get hired to teach a fitness class.

My response detailing my many jobs tends to result in some follow-up questions. Some people wonder how I have the time to fit it all in and still have a life outside of work. Others wonder how I juggle and don't get confused. A few question whether I'm really making a full-time income with all these small sources of revenue.

The interesting piece to this story is that this approach to work is actually a completely legitimate thing called a "portfolio" career, and its popularity has skyrocketed in the last several years, particularly among millennials.

I have a friend who teaches fitness classes, runs a website and podcast, is an adjunct professor and is a professional performer. Another friend runs a pop-culture website, works for her family's business and has her own marketing agency. A third runs an Etsy shop, does local crafting courses and works for a non-profit. One more owns a princess party business and manages a garden center. (Oh, and can we pause for a second to celebrate the fact that all of these successful, hustling professionals are women? High five.)

But this begs the question: Why is this becoming a thing?

Is it that no can find full-time jobs anymore? I doubt it.

Is it because we're all incredibly indecisive and non-committal? I doubt that, too.

Rather, I think it's representative of a shift in mindset within our generation. As a group, we not only place incredible value on our freedom and independence, but also realize the benefits of engaging in work we find meaningful. Taking it one step further, a portfolio career is one of the few ways in which we can make use of the divergent, yet equally important, passions and strengths that lie within us. Oftentimes when we're asked to select a career path, we're forcing ourselves into choosing just one passion to pursue, but this can leave a person feeling unbalanced, particularly after years of ignoring other core segments of their personality. With a portfolio career people can tap into these different parts of themselves and ultimately feel more fulfilled with the work they're doing and the ways in which they choose to use their brains.

Of course, some people pursue this lifestyle intentionally, while others fall into it based on circumstance. As our economic climate has changed in the last 10 years, corporations have been turning to contractors to cut costs, and layoffs have become much more commonplace. While some people find comfort in remaining in the corporate sphere, many see how tumultuous the environment has become and decide to build careers for themselves, rather than relying on a company to create a path for them.

As for me, I've been chugging away at my portfolio career for almost 8 months now (which in the grand scheme of things really isn't a lot). I know that passing time will likely be a better indicator of how successful I am, but for now I'm having a blast. My days and weeks are always different. I make my own hours and can choose (for the most part) where and when I do my work. I can listen to my mind and my body much more attentively than before. If I'm having a mentally sharp day, I focus on strategy. If I'm feeling creative, I write a blog post. If I'm just totally crummy and tired, I can take a half-day and lounge in bed watching bad movies on Netflix. This allows me to actually produce at a significantly higher level, because I'm using my skills when they're easiest to access, rather than trying to be strategic when I have an hour in between meetings.

And there's another bonus: If you're entrepreneurial, but somewhat risk averse, a portfolio career provides padding that a single start-up or side business might not. If I were to lose one source of my income, I know that I have a handful of others that can keep me afloat in the meanwhile.

That's not to say this is easy. Because I create my own hours, I have a hard time self-regulating. There's no one telling me when to clock in or out, so I find myself engaging in some form of work  7 days a week. Weekends and holidays no longer really have meaning. I don't get paid for vacation time. My to-do list can get incredibly long, and sometimes priorities compete, so I have to engage in an epic balancing act. It all adds up and can feel high stress, especially when you recognize that your success is literally all on your shoulders.

At the end of the day, I think it comes down to making a choice about the best way for you to work, taking into account your preferences around level of social interaction, physical working space and how much variety you enjoy. Given that high variety is one of my top values and that I enjoy the freedom inherent in working from home, this arrangement really works for me. But if a bustling office floor and financial security tops your list, it might be something more difficult for you to try (at least until you've hit the tipping point of solid success).

Have you ever thought of pursuing a portfolio career? What small sources if income would you pursue, given your passions and strengths? Let me know your thoughts in the comments section below.

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Gabrielle "Gabby" Bill is a career coach and consultant who believes everyone should be working in a job that leaves them feeling fulfilled. She coaches groups and individuals through a reflection process, uncovering often hidden motivations, values, goals and skills as they relate to their career. These reflections are then parlayed into concrete action plans to guide clients through the process of finding, creating and landing their dream jobs. You can learn more about her services by visiting www.gabriellebill.com

It's not just your generation, Gabrielle! I was laid off last year from a job at which I worked for 20 years. I'm a late boomer and tried my best to find another corporate job but realized that I just couldn't do it anymore. I have since parlayed my time into running two businesses: one as a virtual assistant and the other as a tarot card reader/healer. Everything you mention about being a solopreneur with multiple income streams is spot on. Bottom line, my day-to-day income fluctuates and I have to constantly build up my businesses but I'd rather live with the uncertainty than live in fear at a job that chokes the life out of me. Well done, Gabrielle!

Dee N. Tran RPh, CDCES

Clinical Pharmacist, Certified Diabetes Care & Education Specialist

8y

Gabrielle, wow—thanks for sharing your thoughts! I just realize I have a "portfolio careers"—absolutely love what I do—and have the flexibility. It took me a while but—finally found my passion!

Terrence H. Seamon

Guiding executives, teams and professionals through challenging transitions to change while strengthening their resilience and well-being | Leadership development consulting | Career transition consulting

8y

Coined years ago (roughly 1994) by Irish social philosopher and futurist Charles Handy, the portfolio career has finally come into its own. http://www.economist.com/node/14301346

Julie Lenard-Palmer

Championing Educational Equity: Two Decades of Impact in Diverse Learning Environments

8y

Great article! I love the term "portfolio career"!

Feliza Casano

Speculative & Literary Fiction Marketing and Publicity

8y

I've been cultivating what could constitute a portfolio career for years - writing on entertainment and doing events and appearances as well as occasional freelance writing. The main thing that's helped me is getting to know my own strengths as an individual. I've always known that writing is a strong point, but over the past few years, I've learned more about myself as a public speaker, especially engaging with younger audiences like high school students, and that I love to work with people in general.

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