There was a time when a freelance career was solely the preserve of the very brave or already wealthy. The concept of throwing out a steady 9-to-5 and guaranteed paycheck to go it alone was considered a risk reserved only for the few. As the working world has changed, however, our model of the workplace has transformed. With our need to adapt, the popularity of a portfolio life is very much on the rise — and for a good reason.
Here at Voyageur U, we have long been advocates of the freelance path. Our team is dedicated to helping our readers to take the plunge and pursue a portfolio life. But just what benefits can be offered? Read on for our insider look!
What Is A Portfolio Career?
As the name suggests, portfolio working involves widening your skillset and economic potential to more than one role. Traditionally, working life consisted of selecting one job and dedicating yourself to this for your career duration.
However, the days of a job for life — or even for 40 years — are long gone. As a result, workers are finding that they need to be flexible and adaptable.
In short, a portfolio career offers a chance to earn multiple streams of income. These are usually achieved by blending full- and part-time employment or else working as an independent freelancer or contractor.
Common examples include developing a service or product alongside working as a freelance writer. Others may use a full-time role to build a consultancy business.
What Are The Benefits Of A Portfolio Life?
Deciding to pursue a portfolio career may seem a novel concept. However, if you take the plunge, it can offer a huge number of benefits to your working life. We explore some of the major benefits to portfolio life below — you will soon be converted!
Self Management
For many workers, one of the biggest appeals to a portfolio life is the ability to self manage and the increase in freedom. You will have full control over where you work, which hours you prefer, and how much you charge. If you are used to working for a traditional employer, this can be a real game-changer.
Develop New Skills
Portfolio life is all about being diverse and flexible, and picking up new skills is crucial to your survival. Rather than being overwhelming, this can offer a great opportunity to keep your mind sharp and active.
You may also find that you pick up new skills by necessity; perhaps a client you write for requests your help in WordPress. In this way, you can quickly turn your newly found skills into yet another income stream to help boost your income.
Choose Your Best Work
A large part of a successful portfolio life is developing a vast body of work to show off your skills and expertise. When approaching potential clients and customers, you will need a portfolio of activities. Unlike traditional roles, you will have the freedom to decide what constitutes this.
Unlike a more traditional workplace, you are in charge of the work put forward to prospective leads. This offers far greater creative freedom.
Greater Financial Security
It may seem counterintuitive, but a portfolio life could actually offer you far greater financial freedom. The creation of multiple income streams can actually prove to be far more secure and stable.
In a traditional career, you are very much at the mercy of your single employer to provide your wages. If the company goes bust, or you are laid off, your income is temporarily paused until you can find a new job.
A portfolio career, on the other hand, means that you are spinning multiple plates at once. You may have two or three different ‘hustles’ on the go.
This means that even if one has a quiet spell, you will still be able to earn. This is an ability that can transform your life, offering greater financial security and stability — even in trying economic times.
Do What You Love
We are in the process of changing our mindset about work. An increasing number of workers are no longer content with showing up, doing the work and getting paid; we also crave satisfaction. While it is possible to find a career you genuinely enjoy, amazing opportunities are few and far between in a typical workplace.
A portfolio life means that you really have a chance to pursue your passions. It can go hand-in-hand with your traditional career or act as a direct follow on in many cases. In particular, consultancy work is great for this, allowing you to use skills you already have to advise others.
Enjoy Greater Diversity
As well as allowing you to pursue a role you enjoy, a portfolio life also offers flexibility and diversity. Workers will have the chance to keep busy by juggling multiple projects. If you grow frustrated or stuck with one area, you will usually have a few other projects to handle, offering welcome relief.
Additionally, the chance to expand your skill set means you could find yourself heading in a direction you never anticipated. This could open up new doors in your career or point you towards exciting alternatives.
Make A Difference
Working for yourself, whether as a consultant, freelancer, or full-time worker, means everything you do has value and meaning. The buck stops with you, which can be challenging — there is nobody to hand over work to or pass the blame. At the same time, however, you have a chance to take real pride in your work and make a genuine difference within the industry.
Want To Learn More?
A portfolio career may not be the best choice for each and every individual or industry — we are all different. However, there is no denying that it has the potential to unlock a whole new way of working.
Here at Voyageur U, we want to help you make a confident, informed decision at every stage of your career. Head over to the site today to sign up and access our amazing resources. Prepare to take the leap into portfolio work today!
