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A portfolio career, made up of different kinds of jobs pursued simultaneously, can sound like a refreshing antidote to the daily grind of the office 9 to 5. A successful portfolio career can offer many benefits, including greater freedom, flexibility and variety, as well as an improved work-life balance. However, establishing and managing a sustainable portfolio career can be something of a challenge, as it takes time and hard work to develop. Whether you are about to embark upon a portfolio career, or want to review the effectiveness of your current approach, this guide will ensure you make an informed decision and manage the process effectively.
1. Audit your skills
In order to forge a successful portfolio career, it is important to have a clear understanding of your key strengths and weaknesses. This will help you focus your efforts accordingly, and establish the boundaries of your portfolio. Spend some time considering your educational background, career history, preferred work style, hobbies and interests. Reflect on the different roles, experiences, activities and tasks you have enjoyed and consider which have given you the most satisfaction. Use this to develop a realistic assessment of your personal strengths. You should include technical abilities and broad areas of expertise, as well as other talents such as communication, line management and leadership.
2. Consider the options
Portfolio working can offer you the chance to achieve your personal career goals, so think about the kind of work you’d like to do. Are you looking for something completely different, or are you looking for something which will complement your existing skills and experience? Perhaps, for instance, you have a business idea that you are keen to pursue. It may be helpful to consider your current role and whether there is scope for a flexible working arrangement which would allow you to pursue other career options.
3. Do your research
Whether you have a clear idea about the type(s) of work you’d like to do, or have not decided on specific avenues yet, conducting thorough research will ensure that you are well informed about the pros and cons of each career option. Your research should help you establish the type(s) of work best suited to your skills and talents, and where you are likely to be most successful. It is important to be clear about what it is you are offering to the market, so that you can communicate a clear message and ‘brand’ to potential clients. Educate yourself about each potential industry sector and specific job roles, and familiarize yourself with the current trends and key issues. You can do this by reading relevant trade and business publications, and by attending conferences and other events. Consider the market conditions, and how saleable your skills will be. You should also identify the main sources of competition, and think about how you will compare and market your skills against theirs.
4. Develop a plan of action
Having a clear vision of what you want to achieve, and carefully planning how to reach your goals, will improve your chances of success. You should set out a list of possible roles, assignments, potential employers and clients to target. Think about the balance you want to achieve between different roles and plan how you will split your working time. For example, your plan should outline how much time you will devote to each activity (e.g. days or hours) on a weekly or monthly basis. You should also update your CV and ensure that you have the necessary resources (e.g. home office or workspace, PC, internet access, etc.).
5. Choose carefully
In the early stages of a portfolio career, it is important to build a successful track record, so choose your assignments with care. Although it can be tempting to accept all offers of work in the first few months, think about which projects and opportunities will add the most to your skills and professional experience. In one survey of portfolio career workers, 16% said that if they were able to start again, they would choose clients and roles more carefully, so don’t take on too much too soon.[1]
6. Network, network, network
Networking and word of mouth can make or break a portfolio career. To ensure longevity, you should make the most of opportunities to grow and expand your network, and join different groups as your skills and areas of experience develop. The importance of self-marketing your talents to key contacts cannot be underestimated. It is a good idea to compile a list of key contacts for each area, and ensure that your services are promoted. You might also think about developing a website to showcase your services, including case studies from previous clients that highlight your achievements.
7. Get support
You may find it helpful, particularly in the early stages of a portfolio career, to get some practical advice and support from someone who has successfully pursued a similar career path. You could also speak to your local business enterprise organization for advice on getting established. The ongoing support of family and friends can also prove invaluable, as although a portfolio career can be an exciting prospect, it can sometimes bring feelings of isolation.
8. Plan your finances
Before embarking on a portfolio career, it is important to take stock of your financial situation. A portfolio career can often bring financial insecurity, as income is no longer derived from a single employer. There may be times when you are not working, particularly in the early stages, so it is important to have a financial safety net.
Further information
Joanna Grigg, Portfolio Working: A Practical Guide to Thriving in the Changing Workplace, (Kogan Page, 1998).
- This book provides a useful and practical guide for anyone thinking of developing a portfolio career.
Max Comfort, Portfolio People, (Random House, 1997).
- This popular book examines the concept of portfolio careers, outlines the personal qualities that are needed for success and offers tips on the practical realities, pitfalls and challenges.
Steve Preston, How to Work for Passion, Pleasure & Profit!, (CPI Group, 2017).
- Career coach, author and speaker Steve Preston takes you through how a portfolio career can help you work for Passion, Pleasure and Profit. It includes practical advice, stories and case studies to bring the concept of portfolio working to life.
