Introduction to Portfolio Careers

What does the Gig Economy look like for Knowledge Workers?

I call this Portfolio Careers.

This used to be a term applied to people nearing the end of their career, after 20+ years of experience, now transitioning into NED and other advisory roles. The world has changed. We are now in the Creator Economy. With the acceleration in technology, knowledge workers are assimilating knowledge faster than those further on in their careers. The barriers to entry have never been as low as they are today.
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I believe a shift towards portfolio careers is happening now. Gig economy for the knowledge worker.

There is a growing body of research that supports the trend towards portfolio careers. For example, a 2020 survey by Deloitte found that 74% of workers believed that having a portfolio career would be more secure than having a single job. To support this, a 2021 survey by Upwork found that 36% of the US workforce participated in some form of freelancing during the pandemic, up from 28% in 2018. A number that is expected to rise in the coming years.
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We have dozens of people in our AIS membership right now who have made the shift from working one job to working a number of jobs part-time, leveraging their expertise in new and interesting ways.
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People who get paid from a mix of:

• Consulting
• Speaking gigs
• Coaching
• Advising
• Publishing research
• Angel investing
• and much more……

Portfolio Careers of People you may know

There are many well-known individuals who have successful portfolio careers, including:

1. Oprah Winfrey: media proprietor, actress, talk show host, television producer, and philanthropist.
2. Richard Branson: entrepreneur, investor, philanthropist, and founder of the Virgin Group, which includes over 400 companies.
3. Elon Musk: entrepreneur, inventor, engineer, and founder of companies such as SpaceX, Tesla, Neuralink, and The Boring Company.
4. Arianna Huffington: author, columnist, businesswoman, and founder of The Huffington Post and Thrive Global.
5. Tim Ferriss: author, podcast host, entrepreneur, and investor, best known for his book “The 4-Hour Workweek.”
6. Michelle Obama: lawyer, writer, public speaker, and former First Lady of the United States.
7. Gary Vaynerchuk: entrepreneur, investor, author, and internet personality, best known for his work in social media and digital marketing.

These individuals have demonstrated that a portfolio career can be a successful and fulfilling way to work. By leveraging their skills and interests across multiple fields, they have been able to achieve great success and make a significant impact in their respective industries.

5 Benefits of a Portfolio Career

As someone who has been working in a portfolio career for a while, I’ve noticed a significant shift towards this type of work since the COVID-19 pandemic. Here are five reasons why I believe this trend is here to stay:

1. Increased Flexibility: With remote work becoming the norm, people are finding that they have more control over their schedules. This has opened up opportunities for those who want to work on their own terms and pursue multiple projects simultaneously.
2. Diversification of Income: With the pandemic causing economic uncertainty, many people are seeking out ways to diversify their income streams. A portfolio career allows individuals to earn money from multiple sources, reducing the risk of relying on a single job.
3. Pursuing Passions: The pandemic has given people the chance to reflect on what truly matters to them. For some, this has meant taking a leap and pursuing a passion project. A portfolio career offers the flexibility to explore multiple interests and find work that aligns with personal values.
4. Work-Life Balance: With the lines between work and home becoming increasingly blurred, people are seeking out ways to create a better work-life balance. A portfolio career offers the opportunity to set boundaries and prioritize personal time while still earning a living.
5. Entrepreneurial Spirit: The pandemic has forced many to become more resourceful and creative in their approach to work. A portfolio career requires a certain level of entrepreneurship and self-motivation, making it a natural fit for those who thrive on innovation and adaptability.

In conclusion, the COVID-19 pandemic has accelerated the trend towards portfolio careers, and it’s not hard to see why. From increased flexibility to diversification of income, pursuing passions, work-life balance, and the entrepreneurial spirit, there are many benefits to this type of work. Whether you’re a seasoned professional or just starting out, a portfolio career could be the perfect fit for you.