Midlife Women - Ready to Embrace the Portfolio Career?

For many midlife women the usual straight path of being in one career for many years or forever might not feel right anymore. Some may feel the need to reduce their hours for their well-being or are coming back to work after taking time off, some may need more flexibility to take care of family, or just want to try new things or follow their passion, then a portfolio career can be a great option.

What is a Portfolio career? A portfolio career is one where you're not tied or committed to just one job. Instead, you can mix things up by doing different kinds of work, like part-time jobs, freelancing, or even starting your own projects such as offering a consulting service. It's perfect for those of us who have lots of interests. With a portfolio career, you get to show off all the things you're good at while creating a work life that fits you best. It's a fresh way to manage your career that gives freedom, choice, control, and the chance to explore different paths based on what matters most to you.

Benefits of Portfolio Career for Midlife Women

Diversity: With a portfolio career, you get to do lots of different things, so work doesn't get mudane.
Flexibility: You can decide when and how you work, making it simpler to juggle everything in your life and pursue your passions.
Balanced Lifestyle: Finding the right mix of work, family time, and personal hobbies becomes easier.
Income Stability: Having different ways to earn money can make your finances more secure than relying on just one job.
Mental Health: Having flexibility and variety in your work often means less stress and more satisfaction providing you balance your time wisely.
Longevity: You can keep up a portfolio career even as you get older, giving you the chance to work on your terms for longer.
Choice and Independence: You get to pick the projects that matter most to you, giving you more control over your career
Diverse income streams: As you work in different areas, you are able to create income from different sources.

Like with any career option, it’s important to understand some of the cons of pursuing a portfolio career.

Cons of a portfolio career

There may be fewer opportunities for advancing your career: While not a definite. it could be harder to climb the career ladder with a portfolio career as you might not stay in one job long enough to get promoted.
Not Universally accepted: While some companies are open to hiring people with portfolio careers, in certain industries, it could make it tough to find a job. Some employers might see your portfolio career as a sign you're not reliable or won't stick around for long.
Finding Balance could Be Tricky: Even though a portfolio career can help you find a balance between work and life, some days might still feel busier than others. Depending on your different jobs, you might end up working more than you'd prefer or juggling diaries etc which could be stressful
Lack of Benefits: If you're consulting, freelancing, or part-time, you might miss out on things like health insurance or paid time off. You might also need to handle your taxes

Launching your portfolio career

If you feel this is a right move for you, consider the following tips to help you launch your portfolio career

Figure out why you're drawn to a portfolio career. Knowing your "why" gives your career journey purpose and direction. Write it down, make it Plain!
Consider the common grounds among your past roles, whether they're in the same field or not. Identify what drew you to these positions.
Recall your favourite subjects or courses and leverage them to pinpoint professions where you can apply that knowledge. This ensures alignment between your interests and your work, fostering a fulfilling career path.
Compile a comprehensive list of skills acquired through education, volunteering, and past jobs.
Review your interests and hobbies and consider how they might translate into profitable endeavors. Whether it's music lessons or other hobbies, explore avenues to turn your passions into viable sources of income if that is your need or it could be you pursue this for well-being, fulfillment, etc
Experiment with a side project: Dip your toes into the world of portfolio careers by exploring part-time ventures alongside your main job. This trial period offers insight into the feasibility and appeal of managing multiple roles simultaneously. Only do this if you have the “bandwidth” for it, so you don't get stressed out.
Develop a comprehensive plan encompassing potential jobs, clients, and financial considerations. Consider maintaining a stable income source through long-term freelance contracts or stable part-time employment that offers benefits and some security while building your portfolio career.
Forge connections within your industry and beyond, leveraging former colleagues and industry events to expand your professional circle. Use social media platforms like LinkedIn to nurture relationships and stay informed about job opportunities and industry trends.
Surround yourself with a supportive network of colleagues, friends, and family who champion your career aspirations.

I know a few midlife women who have pivoted, left corporate careers, and are running their businesses or working in different organisations, I would suggest, never underestimating the many years of previous experience you had before making a change, it may be a good way to give yourself flexibility, leverage your expertise and boost your income if you return on your terms as a consultant or volunteer.

Finally, a portfolio career isn't just a career path; it stems from your passions, skills, and experience. It defies the limitations of the traditional career ladder, allowing you to play multiple roles. While navigating this path requires planning, self-awareness, and resilience, the rewards are undeniable. You gain freedom, flexibility, and the chance to constantly learn and evolve. I have an extensive previous consulting career in the pharmaceutical industry and this is something I can consider going back to when I feel the time is right. Let me know if this is something you would consider or any other thoughts or contributions to this conversation.

Till next time Bukky x