Embracing a Portfolio Career: A Path to Future-Proofing Your Work Life
In Canada’s changing job market, the concept of a portfolio career is gaining momentum. Unlike a traditional career, where individuals typically climb the ladder, a portfolio career involves juggling multiple roles, projects, or part-time jobs simultaneously. This diversified approach to work is not only a viable option, but it is increasingly seen as a strategic way to manage and future-proof your career. As a team of portfolio careerists, with over 20 years of experience, we know the advantages of an income streaming portfolio career.
Here are our top 6 reasons why we believe embracing a portfolio career can be a game-changer.
1. Flexibility and Autonomy
One of the most appealing aspects of a portfolio career is the flexibility it offers. Instead of being tied to a 9-to-5 job, we can design our work schedules to fit our lifestyles or personal needs. This flexibility allows for better work-life balance, which is important for maintaining mental and physical well-being. Additionally, having control over our workload and hours fosters a sense of autonomy and empowerment that is often lacking in traditional employment. We are self-employed portfolio careerist who enjoy the autonomy that an entrepreneurial portfolio career offers.
2. Diverse Skill Development
Working in multiple roles across different industries enables us to develop a broad skill set. This diverse skill development has made us more marketable and adaptable in an ever-changing job landscape. For example, our freelance graphic designer who also manages social media can offer a comprehensive service package that is attractive to potential clients or employers. This blend of skills not only enhances her employability but also opens more opportunities for career growth and innovation.
3. Financial Resilience
A portfolio career can provide greater financial stability compared to relying on a single source of income. By diversifying income streams, we can mitigate risks associated with job loss or economic downturns. If one source of income disappears, other projects or roles can help us bridge the gap. This financial resilience is particularly beneficial in uncertain times, offering a safety net that a traditional single-income career might not provide. If we lose a job or project, we have other income streams we can potentially dial up and rely on.
4. Continuous Learning and Personal Growth
Engaging in a variety of projects keeps us intellectually stimulated and continuously learning. This constant exposure to new challenges and industries leads to personal and professional growth that may not happen in a single job. Additionally, a portfolio career encourages us to stay updated with industry trends and advancements, ensuring we remain relevant and competitive in the job market. We know that employability is the new job security.
5. Enhanced Networking Opportunities
Working in different roles and sectors expands our professional network. These diverse connections can lead to new opportunities, collaborations, and even mentorship. A robust network provides us with support, inspiration, and guidance, helping us navigate our career or entrepreneurial path more effectively. Additionally, being known across multiple industries has established us as a versatile and resourceful workers, further enhancing our reputation and the opportunities that come our way.
6. Aligning Passion with Profession
A portfolio career has allowed us to pursue our passions alongside other professional goals. This alignment can lead to greater job satisfaction and a more enjoyable work life. For instance, our instructional designer and our project manager are also passionate about theatre production and freelance play writing. This integration of their passion for the arts and their professional learning design work leads to a more motivated and engaged professional life as their creativity aligns and soars in all the work they do.
Finally, in a world where job security and industry demands are constantly evolving, a portfolio career offers a compelling alternative to a traditional career path. The flexibility, diverse skill development, financial resilience, continuous learning, enhanced networking opportunities, and the ability to align passion with profession make it an attractive option for many people. As we move towards a more interconnected and multifaceted job market, a portfolio career is not just a trendy concept but a smart, strategic choice for people looking to thrive in a modern workforce.
Here are the Realities of Becoming a Freelancer
I became a freelancer after graduating from high school, getting my first job and then getting laid off in the pandemic. I’ve learned that freelancing certainly has it’s advantages and also has it’s disadvantages. Here are some of the realities.
When it comes to being a freelancer, there are many advantages that make freelancing seem nothing short of a dream job. However, wherever there are advantages, there are also disadvantages. All of which I will be exploring throughout this post.
I am a freelancer who has been working alongside Purposeful Careers for the past six months. I graduated from high school in 2019, and I took a stab at News Broadcasting in the Fall. I decided it wasn’t for me, and so I took it upon myself to get a job working at a grocery store over the course of the holiday season. Then I got a part-time job working for a company called Jiva who had originally approached me because they wanted me to help them do video work. Unfortunately, the pandemic hit, and I got laid off. I didn’t want to have a huge gap in my work history so I approached Purposeful Careers, and asked them if they needed help. I have interest in social media, so we decided I would help create posts.
My job can be compared to that of a social media marketer because over the past several months, I have been working on a graphic design platform called Canva, creating and putting together content for both Instagram and Pinterest. In just six months, I’ve been promoted to taking a stab at writing a blog post. So, here I am.
Freelancing involves working independently for multiple people and/or companies on a contract basis. In other words, a freelancer is a self-employed individual who offers various services to their clients. I have learned over the last six months that being a self-employed freelancer has both advantages and disadvantages that everyone who is thinking about it, should know before they dive in.
Some of the Advantages
Being a freelancer means that you are your own boss, and that you have freedom to choose. You can choose your work hours. You can choose who you want to work for, and for how long you want to work for them. You can choose where to work, and you can choose when to call it a day. For example, I work part-time, three days a week from the comfort of my couch, but I don’t get to choose my hours. I start at 1:00 PM and end at 5:00 PM. During that period of time, I get a new assignment or I continue to work on the assignment from the previous day. I get to go to work in what I would call “picked-up-off-the-street” attire (basically whatever I want).
I also enjoy being able to work without having the commitment of the commute. Being able to wake up, and start work from the comfy cushions of a worn-out-couch is one of the joys of freelancing. Being a freelancer means that you represent yourself, and your brand image, and the biggest advantages of being a freelancer is flexibility and freedom.
Another advantage is the fact that it’s been hard to find a traditional part-time or full-time job in this pandemic. Freelancing has given me the opportunity to learn new skills and get work experience that I wouldn’t normally be able to get. As well, because I don’t have a career direction chosen yet, I’ve been able to test drive social media content creation as a potential career.
Some of the Disadvantages
Keep in mind that as a freelancer, there’s bound to be disadvantages. You have your work cut out for you because it is your job to put yourself in the path of potential work, and find your own clients. As I mentioned, I approached Purposeful Careers after I got laid off. Purposeful Careers has now told other business owners about me so I could have potential clients in the future.
Your workload as a freelancer will vary, and you will not always have a steady stream of income. Not having a steady workload, and not being able to rely on a guaranteed stream of income can be a dealbreaker for some. In my experience, there will be days when my client suddenly decides that they don’t need me, and there will be days when my client is unorganized. For example, let's say I’m scheduled to work on Tuesday afternoon and on Tuesday morning my client says, “It’s okay. You don’t have to work today.” As you can see, being given short notice when it comes to when you work, and when you don’t work is something that freelancers have to deal with. Receiving short notice is a bummer, but in my eyes, it just means I can go back to bed. If you are the kind of person who needs consistency, and a steady income stream then freelancing is not for you.
Freelancing is a great opportunity to make money doing something that you want to, and already know how to do. Both the advantages and disadvantages are worth looking into if you are interested in becoming a freelancer. All in all, freelancing is a job that pretty much anybody can pursue, and if you were to give it a shot, you might find that it is a dream come true.
