Check out pitfalls of a portfolio career
DO YOU wish that there was more variety in the kind of work you do and you had more flexibility and control over your time? Your current job may not have these advantages which you crave for but then even if you change jobs, you very well know that you will find yourself facing the same situation after a few months into your new job. The best solution to your problem would be a 'portfolio' career.
A portfolio career involves doing more than two or more jobs at the same time. It is the pursuit of multiple areas of work using one's skills and abilities. In a portfolio career you do multiple jobs- this can include part-time employment, temporary jobs, freelancing, contract employment and even self-employment. The combination of multiple jobs you do will amount to more or less the same income and responsibilities that you would have on a regular full-time job. But the plus points of having portfolio career are many: it is unique, flexible and reflects your entrepreneurial and self-management abilities.
Having decided to pursue a portfolio career it is essential to develop a plan or strategy on how to establish it. The first step involves assessing your interests and skills and abilities, core areas of specialization, etc, so that you can be sure about the different areas you want to develop as part of your portfolio. You can assess the feasibility and earning-potential of each category to decide on the best combination.
The next step: Analyse your educational qualifications, and then list out the skills you have learnt and acquired. Also study your career history to find out your skills and abilities. This could include technical, marketing, managerial or even the soft skills you have acquired during your career.
Phased manner:Now you will have to draw up a plan of action on ways to establish your new career, this should include all the possible jobs you can do, list of potential customers and clients who will buy your services etc. Then you will have to draw up a daily, weekly and even a monthly schedule on distributing your time between the various jobs keeping the targets in mind. The plan should also include the investments you will have to make in terms of setting up an office and other plausible expenses you would incur. It is advisable not to lay your hands on too many things at once but work in a phased manner. You need to organise your work well to succeed in your multiple pursuits.
More importantly you need all the help and support you can get from family and friends to cope with the sense of insecurity, financial uncertainty and nervousness that are unavoidable in the initial stages.
Networking essential: To succeed in a portfolio career you need to be good at networking. Your professional contacts can help you know what is happening in the industry especially those related to outsourcing or hiring consultants or part-time workers. Moreover, you can test the viability of your ideas with your friends. You need to constantly expand your network to succeed in your career.
Most importantly be professional when dealing with clients and executing contracts. Once you learn to impress others with your professionalism and efficiency, opportunities will come calling. It is essential to have a contingency plan in place in case you are not successful or satisfied.
Be patient: Being successful in a portfolio career will take time and the road to the top is long and arduous. Deciding on the kind of jobs to pursue, finding suitable clients, maintaining relationships, balancing and managing the demands of the different jobs on one's time and efforts are some of the difficulties you are likely to encounter. Also financial security is absent unlike a regular job. Since there are no regular work hours, a certain amount of uncertainty and instability creeps in. In such a career one is finally answerable to oneself for success or failure.
However, the drawbacks notwithstanding if you can still make a success of your portfolio career, the variety and challenges it offers will invigorate you mentally and keep you active. Besides it will allow you to pursue your dreams and be your own master.
You will have the satisfaction and joy of doing things you are good at in your own time. Above all you'll have the freedom to explore multiple possibilities.
HEMA GOPALAKRISHNAN
faqs@cnkonline.com
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