{"id":12206,"date":"2021-04-03T10:46:08","date_gmt":"2021-04-03T14:46:08","guid":{"rendered":"https:\/\/ioadvisory.com\/?p=12206"},"modified":"2021-04-03T10:47:57","modified_gmt":"2021-04-03T14:47:57","slug":"the-portfolio-career-part-2-of-2","status":"publish","type":"post","link":"https:\/\/ioadvisory.com\/blog\/the-portfolio-career-part-2-of-2\/","title":{"rendered":"The Portfolio Career (Part 2 of 2)"},"content":{"rendered":"

\"\"<\/a>In this blog post, we pick up where we left off in our discussion of The Portfolio Career (Part One)<\/a>. Clearly, the world of work is changing. This is even truer during (and probably after) the pandemic. The \u201cgig economy\u201d that rose in the post-financial-crisis job market has seen self-employment become more common.\u00a0The shift to working from home<\/a> — an ongoing evolution that rapidly accelerated when the pandemic hit — has shown the viability of home-based businesses and freelance work.\u00a0The uncertainty caused by the pandemic \u2013 namely, the upheaval in certain industries, layoffs, rapid workplace transformations, accelerated automation<\/a> and economic ambiguity \u2013 all required that people be flexible in their approach to work and their career.<\/p>\n

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\"\"<\/a>The portfolio career is often appealing to people who want to combine a high-paying position with other work that offers an opportunity for more creativity, growth, or personal meaning\/fulfillment.\u00a0To pursue a portfolio career, you must be willing to consider (or risk) some personal change. There is a degree of uncertainty when it comes to changing jobs, taking on a contract or temporary work, and combining multiple part-time and\/or short-term jobs. On top of all that, there\u2019s also a myth regarding the security<\/em><\/strong> of a full-time corporate position. The fact is that in many corporate roles, you\u2019re powerless to prevent layoffs, downsizing, restructuring, or budget cutbacks. In this changing economic and work environment, specializing in one thing, or relying on one thing, can actually be riskier than pursuing a portfolio career.<\/p>\n

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It is counterintuitive, but there\u2019s often more security in self-employment and taking advantage of opportunities in the \u201cgig economy\u201d that rose in the post-financial-crisis job market.\u00a0Developing alternative skills and pursuing divergent career paths provides more security and makes you much more agile and adaptable.\u00a0It\u2019s highly unlikely that many of us will spend our entire careers in one industry, let alone one company, like many in previous generations could expect. There are entire industries going through massive change, and some are even at risk, as automation and AI continue to evolve at a rapid pace.<\/p>\n

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Specializing in just one role or one industry can not only be limiting, but you\u2019re at risk of having a limited skill set and becoming obsolete. Diversification and flexibility across skills, roles, and industries is the only way to stay nimble and relevant.\u00a0A portfolio career can provide more \u201con- and off-ramps\u201d to pursuing full-time employment when the time and circumstances call for it, or alternatively when a hobby that\u2019s become a side-gig is strong enough to be a viable, stand-alone business.<\/p>\n

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Tips for building a Portfolio Career<\/strong><\/p>\n