If you’ve recently retired or are thinking ahead to your remaining working years now could be a good time to consider developing a portfolio career. In this two part series consultant, coach, trainer and writer Dianne Bown-Wilson tells us why it is a good idea and how to go about it…
Portfolio careers: the perfect pick ‘n’ mix way of working
A portfolio career as its name implies is one in which you spread your skills, talents and time over a number of different areas – some of which, like freelancing, may earn you money, and some – for whatever reason – you may do for free. Even those who don’t need to work for financial reasons may want to continue to work simply because they value being able to continue to contribute and develop.
Part of your career also may involve helping others through some type of volunteering or continuing your own development through education or training. A Portfolio Career is the perfect framework for enabling choice and opportunity.
Read on to find out if a portfolio career is the right choice for you…
Jim’s story
Jim is 63. Since retiring six years ago he has built up a sound career base as a freelance IT consultant and has also recently developed a garden design business. Twice a month he spends time mentoring young offenders.
“It’s a great way to work,” he says. “I guess ideally I’d like to spend all my time on the new business which just grew out of my own passion for gardening. But that’s a slow burn and who knows, maybe I’d get really sick of it if I just did that and nothing else. In the meantime my IT work keeps some money coming in and provides the core for everything else to revolve around. I do the mentoring stuff just because I feel it’s really important to give something back. Overall it’s amazing how well it all fits together.”
All about attitude
So what’s different about having “a portfolio career” as opposed to just a semi-retired lifestyle and a couple of little part-time jobs? The main difference is attitude of mind. Portfolio working means that you manage and develop your options as seriously as you would in any sort of career and that you make it clear to others that this is what you do.
One of the biggest reasons for business failure in later life is that people fail to retain sufficient focus on what they want to achieve. They lose impetus and, surrounded by other people who regard them as “retired”, their good intentions fall apart.
Making it clear that you have a portfolio career reinforces to yourself and others that you have just as much commitment to it as at any other time in your life. This is your career – it’s not something you’re playing at.
A portfolio of advantages
The advantages of developing a Portfolio Career are numerous. Amongst them are that:
- It enables you, should you wish, to continue your existing career/job on a part-time, freelance or consultancy basis.
- It allows you to minimise risk through, for example, continuing to earn money from one fairly stable area while building up a new business in another.
- It helps you maintain a business-like framework for managing your time – you decide how to split your week between paid work, volunteering and your own interests and hobbies.
- It overcomes the loss of respect and status you may feel when you tell people you are retired or not working.
- It stops you drifting and losing focus.
Sounds interesting? Part 2 of this article will give you some tips on how go about it…
By Dianne Bown-Wilson – consultant, coach, trainer and writer
