Pursue Multiple Career Activities at Once to Optimize Your Potential  

At some point in most of our careers, we start to ask questions about our professional paths. We wonder if we are truly happy with our current job, if we can see ourselves in this position for the foreseeable future, and if it still works for our lifestyle and life goals. We assess if we want to keep climbing the corporate ladder or step off the rung, if we like working in an office or want more flex time, and just how much money we need to make to truly be happy. However, in some cases, we have no idea where to even begin to manage or identify our current state of satisfaction.

During a recent webinar hosted by Right Management, a career specialist outlined a checklist to help professionals define their level of satisfaction in their current line of work. It is really more of a filter through which anyone can use to see if their current path is still a good fit. So, ask yourself the following questions.

• Does my current job/company/career align with my values?
• Do I have control over what I do?
• Do I have or am I acquiring the proper skills and resources that I need?
• Does my job/company/career align with my interests and strengths?
• Do I have a purpose?
• Do I have the resources to live the life I want, considering commute tolerance, salary level, hours and travel requirements?

Obviously, these are not simple yes-or-no questions, and the answers probably have a large grey area; that said, we probably already feel what we may not “know.” Our internal career monitor is in constant flux, but when it gets stuck, and we start to feel stuck, we know it is time for some type of change. Then the panic really sets in. If we want a change, what would we do?

Some options are obvious when considering our livelihoods.

• Stay with our current company but seek another job/role
• Change companies and continue in our current job path
• Attempt a lateral move into another somewhat-related industry in a somewhat-related role
• Go back to school and reset our careers in a new direction
• Start our own business
• Consult
• Downsize, cash out, work to live/get by

Even if necessary, change is often very hard for most people. It means giving up a known entity and pursuing an unknown. Our imaginations always consider the possibility of the change actually being worse than our current situation; hence, hesitation sets in. We also consider what a disruption in our income would mean and if we do shift directions, we wonder if we could make up any differences in pay scale. The infamously termed “midlife crisis” usually sets in during a career assessment/reassessment. When we question our purpose, we tend to question other aspects of our lives as well. As a result of this mental chatter, the spiral of inactivity continues. What if we had another option, another path that is often unexplored and even less frequently talked about? What if we could earn income, pursue our passions and take time to shift into new directions all at the same time? No, it is not the lottery retirement plan or a rich uncle. It is the Portfolio Career Path.

The Portfolio Career is a mixture of activities that serve the various desires that you have at any given time. It gives you the opportunity to diffuse your energy and minimize risk from any one decision by pursuing multiple paths at once. A portfolio career works like a diversified financial portfolio, which seeks to allocate resources across investments to limit any downside. I stumbled on this approach recently but would have much rather preferred structuring it a long time ago. As part of a downsizing/restructuring, I used my newly discovered time to get some professional certifications, supplement my computer skills, partner with an online publication to become a contributing writer, submit some short plays for a statewide playwright contest, learn Mah Jong, organize my home and life, secure a university board position, and network with old and new contacts. The latter ultimately led me to some consulting projects and the pursuit of a new product launch/starting a company. Sure, a job change/lay off can catapult you into a similar situation, but you should be prepared to embrace the opportunity either way.

How do you go about building a Portfolio Career? For one, you should identify your passions/interests. Do you like to write, build, organize, do yoga, bake, work out? Then take some time to see how you could create a revenue stream from these interests. Could you get certified in fitness training/as a yoga instructor? Could you become a freelance writer? A professional organizer? A handyman/handywoman? Can you do more than one of these at the same time? One of my yoga instructors teaches in two studios and runs a painting business. A former colleague of mine works for a Fortune 500 company but started a swimwear boutique on the side. Other professionals choose to purchase a franchise and manage it in parallel with their career so that they have a back-up income and possible retirement plan. Another option is real estate. Could you purchase an investment property and rent the space for a cash positive or cash neutral equity building plan?

At a loss for interest-turned-career options? Then look for more traditional methods for creating a portfolio career. If you excel at computer skills, try tutoring. In accounting? Try taking on some tax-season customers on the side. Look at contract or part-time long-term positions and use the other weekdays to pursue an alternate path or take classes. How about picking up some shifts as an Uber driver? A substitute teacher? A vlogger (with enough views, you get advertising payments)? The key is to assemble a group of activities that can provide income, nourish you, and keep you moving forward in your life. With the internet and digital business-to-business marketing opportunities, it has never been easier to start a small company. Look at web platforms from Word Press, Go Daddy, Wix.com, or Squarespace. With templates and public domain graphics and photographs, you can build a site on your own and get support, secure your URL, and get started acquiring customers. You’ll need to work with an attorney and an accountant, but once you set up the basic legal and tax requirements, you can be off and running.

Admittedly, finding passion income opportunities is not easy and may not yield the salary you currently earn, but it will give you freedom and flexibility of time. The key is to start to identify your plan B or second chapter (so to speak) while you are gainfully employed. Plan a path to reduce expenses, identify the minimum income you need to support yourself/family and allocate time and money toward building a parallel path. When you do, losing a job won’t be so jarring, and retirement won’t be so daunting.