Are you ready for a portfolio career and multiple income streams?
I have written about Portfolio careers before and I was asked the other day how to go about starting a portfolio.
Who Is Best Suited For a Portfolio Career
Before I tell you how to start building a portfolio career, let me say, it may not be for everyone.
Here are some characteristics of people who might do well pursuing this type of option. The list comes from Portfolio Careers
- Excellent time managers who organize their lives very well Live with ambiguity and often find little difference between their work and free time
- They are largely in control of their own destiny
- Do not like to be bossed ie. have a need for independence
- High energy
- Prepared to market themselves and actually enjoy networking
- Like change and variety
- Not afraid to take risks
- Cope well with stress and pressure
- Feel positive about themselves
- Enjoy deadlines
- Love to learn
- Not driven purely by money & not over-anxious if they have insufficient amounts at some times
- Like to be in control generally
If these describe you, then you are probably a good candidate for a portfolio career.
First, start thinking about what you love doing.
Then ask if you can do it on a part-time basis? Per gig basis? Contract basis?
Next, think about whether you could blog about it or sell it on-line?
If you are really great at helping coordinate events (volunteer or paid), ask yourself who might need this service on a part-time or per event basis? Colleges, non-profits, corporate? All of them.
Researching The Potential
Now you are ready to test and research your idea.
Begin by conducting research and find out why someone would need to purchase your services.
You do this by talking with people in the industry. Ask what their challenges are around this area you are interested in.
If you are convinced there is a need, based on your research, the next step is to construct a list of company names who would be likely to benefit.
This list of target organizations should be comprehensive. It will contain ANY organization that could use your service. The more organizations, the greater and faster your odds of success.
Craft Your Proposal
Your proposal letter will introduce your services to the organization. You are essentially telling them about the benefits of your services. Here’s what your proposal letter should include:
- Introduction/Summary of Skills
- Supporting research/data for the use of your services
- Proposed Scope of Work
It isn’t enough to send the proposal. You will need to follow-up. Network your way into the organization or call the person you sent your proposal to. Your follow up shows professionalism, persistence and interest.
How To Make Money From My Idea
I came across The Launch Coach. 7 Steps to Creating Multiple Income Streams is a free downloadable .pdf with great questions to get you started. Honestly, it really gets you thinking (and I am not getting paid to say this).
More On Multiple Income Streams
JibberJobber has Friday posts dedicated to describing the multiple income streams of Jason Alba. It can also provide ideas on how you can find opportunities.
A portfolio career offers multiple income streams, income security and ownership of your career!