For example, this might mean a local business manager selling their artwork on the side, or a schoolteacher doing real estate work during the weekends and summer vacations. Pursue your passions: Many people choose to have multiple careers as an opportunity to pursue their passions. In this situation, they may have a more stable career that provides a reliable income while they develop another. Create more income streams: Diversifying your income can help to make you more financially healthy.
If you decided to no longer pursue an income stream, you would have others to support you. Form a flexible schedule: Freelancing is one way that many people nurture multiple careers, and by freelancing you can create a more flexible schedule for yourself to accommodate for travel or time off.
Build more diverse skills: By pursuing multiple careers, you may develop skills in many areas at once. By having more skills, you are a more versatile employee and person, which can make you more desirable to employers or clients.
Access to more networking: Operating professionally in multiple fields at once may expose you to more networking opportunities and allow you to develop professional relationships. Having a robust collection of professional relationships can be useful when you are trying to establish yourself in a new field or industry.
Related: What Are Streams of Revenue? With Types and Examples. Though having multiple careers can be very rewarding, there are some potential cons that may affect you depending on your non-work goals and lifestyle. These are some potential drawbacks of having multiple careers:.
Need time-management: Individuals who choose to manage multiple careers at once must have excellent time-management skills. Not only do they have to stay organized with their careers, but they also have to make time for social and self-care time. Perform quality vigilance: When you are managing multiple careers at once, it's a good idea to stay attentive to the quality of work you're producing. The duties of multiple jobs can make it difficult to generate the highest quality work, so those with more than one career are always quality vigilant.
Have less social time: Having multiple jobs can make scheduling social time difficult for busy professionals. Managing your personal social time outside of many careers at once is important to maintaining a healthy work-life balance. Experience potential fatigue: Those with two or more careers may spend more time working than those who are only managing one, so it's possible that burnout and fatigue can become an issue.
By prioritizing a healthy work-life balance and allocating enough social and self-care time, you can avoid symptoms of fatigue and burnout. Encounter expense increase: Depending on the career you have, it's possible you may spend more on gas or purchasing convenient or restaurant food when managing two or more careers at a time.
For example, if you do freelance photography outside of your accounting job, you may spend more money on gas by driving to various shoot locations. Another common scenario involves two positions that are both part-time opportunities such as an entry-level research job and a community college teaching role. Much like a college degree with dual majors, two careers allow you to keep your future options open. It is possible that one of your career passions will pay more handsomely and regularly than another.
Paying attention to economic necessities like paying the rent and buying food can add a healthy dose of reality to your career decisions. For example, the acting profession might represent one of your dream jobs -- but the unemployment rate for actors was 28 percent.
You can overcome potential negatives like this by simultaneously pursuing a second career that offers steady income to pay your bills. For many individuals, this is the biggest obstacle when attempting to manage multiple careers. To eliminate this potential problem, your willingness to organize your routine can save the day -- effective time management tools include detailed lists and calendars. Having two careers provides the freedom to fall back on Plan B when Plan A comes up short.
Know that you can always switch gears and iterate. Ideally, your income does not have to depend on the number of hours you worked. For example, if you have a full-time desk job and you consult by night, lock in a retainer or project-based pricing for your consulting contracts rather than an hourly rate.
Even better, have one or more jobs where you generate passive income. Choose clients that are in industries that interest you, and take on projects that require you to build your skillset. His corporate job paycheck subsidizes his record producing career, and he invites his corporate clients to recording sessions to build rapport.
Get very clear about how you tell your story and pitch yourself. Make sure to translate your prior successes and experience in a way that positions you as a uniquely valuable asset to your client or boss.
Because of the social power word-of-mouth referrals, your contacts will often be the ones to help you land your first clients or get your foot in the door in a new industry.
Focus on mastering a few skills that align with your strengths. Double down instead of trying to multitask. To differentiate yourself, show how you combine these two or three skills to create even more value. You can accelerate your trajectory and begin building credibility as a thought leader by contributing to outlets like Forbes or authoring a book.
Dedicate time to working for yourself, just as consultants juggle and prioritize their clients. Divide your time around your priorities and treat your own tasks and deliverables with as much care as you would for a landmark client. Having multiple jobs creates more administrative and operational work. You need to juggle invoicing, understanding tax laws, structuring and organizing your business, keeping track of clients, finances, contracts, managing your personal brand, and more.
Organize your portfolio life the way you would run a business. Your income and audience is not limited to where you live. For example, translation services may be undervalued in the United States, but is extremely well-paid abroad.
Or, your startup skills may be overshadowed in Silicon Valley, but celebrated in emerging tech hubs. Is one job, client, or channel no longer fulfilling for you? Then get out of there! Is having two or more careers better than one? It has the potential to accelerate your personal and professional growth, and it can be incredibly fulfilling.
Start thinking of your career as a business of its own.
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