In today's economy, you need a career portfolio. A career portfolio is a collection of income streams that you can use to hedge against risk and volatility in the job market. In this article, I'll explain why building a career portfolio is essential for your financial security.
A career portfolio is a great way to diversify your revenue streams.
When you have more than one source of income, you’re less likely to be hit hard by market shifts or other events that might temporarily slow down one particular source of income. Your income will still vary from month-to-month, but it won’t be as volatile overall if you have multiple sources of revenue that balance each other out over time.
A side hustle refers to a job that a person holds in addition to their main job, usually in order to earn extra income. Side hustles can be done part-time or full-time, depending on the person's circumstances. For example, if you're working as an engineer and make $100k per year but would like to earn more money on the side so you can eventually transition into entrepreneurship without having to go through another job hunt, then your side hustle might be something like freelance writing or developing online courses.
If this sounds like something you'd be interested in doing, here are some things that I've learned along the way:
Other income streams can include side hustles like freelance work, consulting and sales. If you're a writer, you can sell your articles on Medium or get paid by someone to write content for their blog. Since it's such an open market, there are many other ways to make money with your writing skills; check out Fiverr or Upwork if you'd like to be more specific about the type of writing work that interests you.
Another option is marketing: if you have great ideas and know how to promote them well, then marketing is a great way to earn an extra income stream without having long-term commitments or high costs involved. You could try starting with social media marketing first—there are plenty of companies looking for people who can help them grow their audience organically using Twitter ads and Facebook Ads Manager tools like Power Editor (which I highly recommend taking some time learning).
A career portfolio is a collection of revenue streams that you've built up over time. It's a way to hedge against risk and volatility in the job market, since you'll have more than one way to earn income if one of your sources dries up. In other words, if you lose one source of income, it won't be as financially devastating as if it were your only source.
Building a career portfolio doesn't have to happen all at once—you can build on what you already have and add new sources as needed or when there are opportunities for growth. If you're worried about creating another side hustle (that's what we call extra money-makers here), don't fret! We've got the perfect platform at Criya to instantly create profitable careers with low overhead costs and!
We’re all about diversification, and so should you. Building your career portfolio is a great way to hedge against risk and earn more money in the process. You don’t have to be an entrepreneur to feel empowered by this approach—anyone who wants more control over their finances can benefit from having multiple revenue streams.