Should you build a “portfolio career?”

In 2008, while I was working in corporate I was also finishing my MBA. One of my final semester classes was a marketing course. It required us to group up and make several presentations to our classmates. Given that I was a corporate trainer at the time, presentations felt fun for me and I enjoyed giving them. 

My professor took notice and mentioned to me as class was ending, “you could teach this class!” The idea of being a college professor had never occurred to me. I thought that's what “other people” did. However, I learned that since I had an MBA, professional corporate work experience and the ability to lead a classroom, that made me qualified to be an adjunct instructor at the University.

For five years, I taught undergraduate Management courses at the University of Nebraska Omaha alongside my day job. It was a fun and engaging way to earn some extra income to help pay my daughter's daycare bill. The students kept me young and it kept my mind alive with researching the latest and greatest management ideas. 

Turns out, I was on to something I've been seeing more regularly in the media - embracing what Christina Wallace calls a Portfolio Life. While men have done this for decades as consultants, real estate investors or board advisors alongside their day jobs, more women are beginning to realize the potential of of building a portfolio career as traditional “climb the ladder” approaches aren't delivering the happiness and results they thought they would. 

The practice of diversifying income isn't a new concept. When I worked for investment firms, I learned that diversifying investments was a key strategy to protect your savings should a few of your stocks have a rough year. When I started my own business, I carried this mentally into my business offerings so that if one revenue line took a hit (hello, speaking crash of 2020 due to no in-person events), I'd have four other business lines to prop it up. Frankly, having several different programs to offer keeps me from getting bored. 

As it goes for my corporate clients who are beginning to embrace this concept, they've learned that while they love their corporate work and have no plans to leave, there are ways to diversify their income and their interests. It helps keep them engaged, support their family or invest in their community. Some examples of portfolio careers that I've seen my clients pursue over the years look like this:

• VP, Product Development + Farm Owner + Event Venue Host

• CMO + Keynote Speaker + Founder

• VP, Technology + Keynote Speaker + Activist + Board Member

• Product Manager + Operations Specialist + Vending Machine Owner

And so many more that include monetizing hobbies and services, real estate and non-profit leadership. As Christina mentions, “People are realizing that nothing is promised - They would rather be ambitious in other parts of their life than only give ambition to their career. They’re pursuing purpose alongside position, legacy alongside income, and personal fulfillment alongside professional achievement.”

🔥 Women should and can have multiple streams of revenue.. even if they work a corporate job. Men have been doing this for decades. Are you putting all of your professional success (and income potential) in one basket? You are more than your title. Who and what else are you meant to become?

PUT THIS IDEA INTO ACTION

Does building a portfolio career sound interesting? Having a variety of experiences can also build the breadth and depth needed for the leadership positions of the future. Here are some places to look to help you build something the complements your 9-5 job.                

1: What are you already doing that you could be charging for?

Maybe you teach a skill or have a hobby of organizing elaborate parties. Scan your current skillset - could any of this be monetized in a way that feels good to you?

2: What talents could be expanded and monetized?

Maybe you love speaking in front of crowds to share your experiences or you are skillful at process improvement. How could you outsource this to companies or organizations who could benefit?

3: Where do you want to build others or your community?

What is something that frustrates or angers you that you want to see improved? This is a clue that joining a board or advocacy group could be joyful for you in serving your community.

*A note about overfunctioning, conflicts of interest and how to prevent burnout.

Please know that I would never advocate for you to commit energetically to something that would burn you out. NO AMOUNT of money is worth the misery. My clients who choose a portfolio-focused career do so because it brings them joy and energy. It helps them love their 9-5 job more. 

For those of you in highly-regulated industries, always check with your current employer to avoid conflicts of interest. 

TRY THIS NEXT: Do you know someone who embodies a portfolio approach to their life or career? What is something that you admire about them that could be viable for yourself?

Kelli Thompson is an award-winning author, keynote speaker, and executive coach who specializes in helping high achievers advance to influential leaders in their organizations. She is the author of the critically acclaimed book, Closing The Confidence Gap: Boost Your Peace, Your Potential & Your Paycheck.

Learn more about: Executive Coaching | Speaking & Training | Group Programs