No. 37. Why You Need To Take a Portfolio Career Approach to Your Work

Because portfolio careers are not only for executives.

After reading this article about portfolio careers, I’ve been fascinated about this concept of have a “portfolio” of roles and experiences that make up your work. Although this article talks about portfolio careers in the context of executives looking to leave corporate life for a slower pace of various roles - writing, speaking, teaching, consulting, being on boards, etc., - I don’t think this concept is only for executives.

In fact, it’s basically a different spin on the Proverbs 31 woman - investing your time, skills, talents and finances into a variety of investments in your family, home and work. Some of these investments main result in financial dividends, like through your work, but other investments may have a different type of return as you take on roles coaching, mentoring, serving, and volunteering. But, all of these investments come together to build a portfolio.

So, here’s why we as Christian women should take a portfolio approach to our careers (and life!):

• Your identity is not defined by any one role. You are not your job, and you are not exclusively any other role you have. Everything we do is part of who we are, so taking a portfolio approach can help us better manage our priorities. 

• Inflations & recessions. It feels like everything is more expensive now, and it’s likely never going to go back to what it used to be. In 2019, 53% of households in the U.S. were dual income, but what if even that doesn’t become enough? What if you lose your job? When you’re depending on a single stream of income (a full time job) to support yourself, it can become risky if your company reorganizes or a recession does indeed happen, so having some other type of income stream to rely on is wise (passive income, rentals, side hustles, etc). Diversification of income streams can help navigate change and mitigate uncertainty. 

• Building up your skill set. Having a portfolio career looks like a collection of paid and unpaid work that helps you develop a variety of skill sets (e.g., volunteering, serving, sitting on a board, mentoring, hobbies, etc). This is helpful because if you do need to find another job, you have a well rounded resume of skills and experiences to rely on. 

• More options. You also open yourself up to more options and opportunities. This is especially important if you want to maybe take a step back from your career once you have children, or just want a change of pace. A portfolio career gives you a choice between part-time jobs, consulting jobs, and other opportunities to focus on while you’re taking a step back or when you’re ready to return back to work. Basically, think of it as keeping a few irons in the fire, and having the flexibility to change and rebalance your portfolio when needed without having to start from scratch every single time. 

• Building up your personal brand. You may be loyal to your corporate employer, but if you ever want to make a change in your work, you’ll need a personal brand beyond just your current role. A well rounded candidate always stands out in interviews! 

You’d never put all your money into one stock as an investor, so why do we often put everything into one job or company when it comes to our work and finances?

P.S. How women can better excel in the corporate world is a passion of mine. I’m currently working on an online course on this topic, so if any of this resonated with you, come join the wait list to be the first to hear when the course is ready!

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Why You're Not Too Young to Begin Building a Legacy (Article)

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