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Rachel Brushfield

What does portfolio career mean?

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There are a number of different definitions of a portfolio career. The government (HMRC) defines self-employment as: “when an individual can decide how, when and where they work”.

Other definitions include: a work pattern of several employments followed simultaneously and an employment pattern that involves working part-time or several different jobs or freelance projects at any one time, rather than a succession of single full-time jobs.

The impact of Covid-19

Covid-19 has caused many redundancies, increased the number of people becoming self-employed because they cannot get a job in shrinking sectors and also reduced the number of freelance projects available with increased the competition for them.

Companies are focusing on ‘must do’ projects with on-going uncertainty, not ‘nice to have’ projects, and sticking to existing trusted providers. There is also downward pressure on pricing/day rates – supply and demand.

All these factors are increasing the number of people open to a portfolio career to spread the risk of having all your career ‘eggs in one basket’.

Types of people for whom the variety, challenge, flexibility and fulfilment of a portfolio career appeals

People with multiple interests who are independent, creative and/or entrepreneurial in nature tend to be drawn to portfolio careers, as they can find the hierarchical nature of corporates stifling.

Young workers (Millennials) wanting to travel and study also find portfolio careers appealing.

Working mothers seek the flexibility of a portfolio career to successfully combine their career and family.

People over 55 who want a new challenge but face ageism when seeking a new full-time role may choose a portfolio of part-time jobs.

Employees not ready for retirement who want to keep purposeful, can create a portfolio, gradually reducing their working hours while taking on non-exec director/volunteer roles, and increasing their leisure time as they wind down to 100% retirement.

What appeals to you about having a portfolio career?

More

Why choose a portfolio career? https://www.inspiringportfoliocareers.com/why-portfolio-career/

Who is a portfolio career for?https://www.inspiringportfoliocareers.com/who-has-portfolio-careers/

When is it time for a portfolio a career?https://www.inspiringportfoliocareers.com/when/

To receive a free Energise report Discover Portfolio Careers, get in touch: https://www.inspiringportfoliocareers.com/contact-us/

How do I set up my own business?

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Setting up a business is a dream come true for some people and something that others wouldn’t touch with a barge pole. A high proportion of businesses fail but you don’t need to be one of this statistic with careful planning and research.

There are many catalysts to setting up a business; spotting a gap in the market; taking on a franchise, commercial demand for something you do as a hobby; the opportunity to buy an existing business, being made redundant and having a cash sum; wanting more freedom or money etc.

So how can you set up your own business with minimum stress, expediently to create ease in future?

Below are some tips to maximise your chances of success:

  • Do thorough research into the demand for your product or service including the market, pricing and competitors and especially find out what your customers’ needs and desires are
  • Ensure that your product or service is different or better in a way that is relevant to the needs of your target audience, not simply something that you like
  • Buy a book and/or do an on-line course in setting up a business
  • Take advantage of any cheap or free training available from the local council, Chamber of commerce or other government initiatives etc
  • Create a thorough yet simple business plan that is user-friendly for ongoing monthly use
  • Have some savings to take the pressure off in the first few months and work out your break-even costs to cover key expenses. Ensure you don’t overstretch yourself financially and have a proactive business banker and accountant to give you expert advice
  • Set up I.T. and efficient filing systems and templates that will save you time in the long run when you get even busier
  • Plan time in your diary to network and do marketing and also to review progress and plan next steps. It is easy to put off things that aren’t urgent but vital to invest time in important not urgent activities.
  • Network face to face or on-line with other self-employed people through organisations such as BNI or Linked in. Not only can they generate business for you, they’ll also give you support and advice
  • Think carefully about the environment in which you’ll work – this can really affect both your productivity and how you feel
  • Get a business coach or mentor to help you to minimise mistakes and fast track success
  • Ensure that you get key people in your life on board; partner, kids etc so that their support helps rather than hinders you

More

Read how we help our clients

Hobby becoming a business

https://www.inspiringportfoliocareers.com/hobby-becoming-a-business/

Turning a passion into a business

https://www.inspiringportfoliocareers.com/turning-a-passion-into-a-business/

Turning a strength into a business

https://www.inspiringportfoliocareers.com/turning-a-strength-into-a-business/

Contact us to arrange your free 20 minute consultation: https://www.inspiringportfoliocareers.com/contact-us/

How do I do contract work?

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Contract and interim work is a growing market and is commonly used for covering maternity leave, sabbaticals and special projects where a specific skill and experience set is needed.

With employers nervous about recruiting people and having them on the payroll with all that this entails, it is likely that contract positions will be popular with employers for the foreseeable future.

Contract and interim work is mainly for more experienced executives who can hit the ground running and need little supervision. If you relish freedom, variety and new challenges and don’t mind uncertainty, doing contracts and interim can be a great and varied career choice.

Careers are becoming more and more fluid with individuals working full time, doing some contracts, a bit of freelance then doing another full time job.

Contract and interim work has pros and cons and isn’t for everyone:

Pros

  • Variety and new challenges
  • Can go travelling in between contracts
  • Remain separate from company politics
  • Get paid more than in full time employment
  • Experience different cultures and varied challenges
  • Useful option post redundancy to take stock and evaluate options

Cons

  • There may be periods of no work/income
  • You may be resented by full time colleagues for getting more pay
  • You may need to set up a company and register for VAT etc and submit annual accounts
  • You need to think ahead to secure your next contract
  • You may have to work away from home which can be isolating

Here’s some tips to smooth the path of doing contract/interim work.

  • Have 3-6 months of savings to cover any lean times, tax and VAT
  • Choose not to worry about where your work will come from
  • Source references and create case studies for each contract
  • Keep your CV updated
  • Register and keep in touch with specialist interim recruitment agencies
  • Plan regular time to network and market yourself, don’t leave it until your latest contract comes to an end
  • Keep your skills updated by doing courses and study and ensure that your unique selling proposition is clear, specific and relevant to current and future market needs 
  • Ensure that you get and give a good handover with each contract/project

Read how we help our clients

From employment to contracting

https://www.inspiringportfoliocareers.com/from-employment-to-contracting/

Get in touch to arrange your free 20 minute consultation: https://www.inspiringportfoliocareers.com/contact-us/

What is a personal brand and why is it important?

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A personal brand is essential in the digital age.

But what is a personal brand and why is it important?

You as a brand – what’s your USP?

USP stands for Unique Selling Proposition and it means simply the thing that makes you different, distinctive or better from other people who do what you do.

A brand is a product or service with a unique or distinct territory or character that occupies a space in the minds and hearts of its target audience.

What territory do you or do you want to occupy in the minds of your target audiences, i.e. your current or future employers/clients?

With time so precious, it is key to create a clear differentiation for yourself through your qualities, skills, experience and/or knowledge because then it is easy for people to find a fit. If they find it hard to find a fit, then you may be side-lined, not because you’re not good, but because they can’t quickly and easily see how, where and when to use you.

This is especially true for freelance work where often quick decisions are made. However the danger is if your territory is too narrow, you’ll be typecast, so manage your brand carefully and keep track of market changes.

Gain clarity to the extent where you can answer the question, “the only xxx e.g. communications professional who…..”. Another way of describing what you aspire to is for someone to say, “Ah you mean xxx, the one who specialises in…” 

Here’s some tips to help you get clear on what your USP is.

  • Research market needs and trends – what are the emerging issues and competencies that are going to be in demand e.g. empathy with difficult clients, knowledge of innovative digital assets etc. 
  • Reflect on times in your life when you’ve found yourself ‘in-flow’, i.e. everything just works naturally. What were you doing at those times?  What natural gifts were you exhibiting that you may not even be aware of?
  • Ask people who know you well for their feedback about your skills and qualities
  • Identify the link between current and future market and employer needs and your natural skills and qualities
  • Do some training or studying to build upon your strengths
  • Write a brand positioning statement and bounce it off people your trust
  • Narrow your brand down to between 1 and 3 words
  • Come up with an impactful audio logo/verbal business card, i.e. a short memorable phrase that you can respond with when someone asks you “What do you do?” 
  • Create an impactful and consistent brand experience through everything that you do and say. Ensure that your image expresses and matches your brand 

Read how we help our clients

Reigniting passion and defining your personal brand

https://www.inspiringportfoliocareers.com/reigniting-passion-defining-your-personal-brand/

Get in touch to arrange your free 20-minute consultation:

https://www.inspiringportfoliocareers.com/contact-us/

What should I say when networking?

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Networking whether face to face or on-line is stressful for many people, especially when new to self-employment.

They worry about what to say and how to say it.

That age-old question – “What do you do?!”

Have you ever been to a networking event and your eyes glazed over with how people answer the question “What do you do?” Most people reply with their job e.g. I’m a lawyer or accountant etc.

This misses a trick and also an opportunity for you to engage people and share what sets you apart from other people who do what you do. Meeting prospects or contacts at networking events is just the start of the relationship, so why not start it with positive impact? What is needed is a great ‘verbal business card’.

What is a ‘verbal business card?’

A verbal business card is a creative and relevant way of answering the question What do you do? in a way that is memorable and evokes curiosity, allowing you to continue and develop the conversation. It also keeps you interested and be interesting to them. Just as your printed business card reflects your brand and company, setting it apart from other companies, so your verbal business card needs to too, only appealing to people’s ears instead of their eyes.

Examples; for a roofer “I keep the roof over my customers’ heads and them out of the gutter”, a photographer “I shoot people”, a business psychologist “I stop people from going mad at work” or an accountant: “I am a bean counter with a difference.”

What could your verbal business card be?

5 tips to create a verbal business card  

  1. What makes you different to other people who do what you do?
  2. What’s a creative or metaphorical way of expressing how you help people/what you do?
  3. What’s the benefit of what you do to your customers?
  4. If you had to choose 1 word that makes your approach distinctive, what would it be? 
  5. If you weren’t allowed to speak to explain your job, what prop would you hold?

Self-reflective question

If you were explaining your work to a young child, what would you say so that they understand?

Get in touch to arrange your free 20-minute consultation:

https://www.inspiringportfoliocareers.com/contact-us/

How can I get freelance work?

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Covid-19 has caused many redundancies with more competition for both jobs and freelance projects.

Whether freelance work is a temporary choice or a conscious career choice, spending time creating opportunities is essential.

So how do can you get freelance work?

Freelance work gives you freedom and flexibility to work at different companies and on diverse projects and brands without committing to one employer, but it is a career choice without the guarantee of a monthly salary, so it’s not for everyone.

Freelance is also a great choice if you have been made redundant or don’t feel sure where you want to work.

You can ‘try before you buy’ and your employer can try you before they buy you, reducing any risk and increasing the chances of a ‘happy employment marriage’.  

Here’s some tips to get freelance work.  

  • Chat with people who are successfully freelancing, pick their brains and jump up the learning curve, learning from their mistakes and successes
  • Get some solid experience and credibility behind you. Having some well known names of employer and brands for freelance projects helps to give you a sound foundation
  • Be clear about your personal brand and be able to express it to others verbally and in writing as this will help people to ‘buy’ you (see separate blog on this topic)
  • Create a clear and impactful biog, CV or portfolio and have some business cards printed which ooze quality and don’t say cheap
  • ‘It’s not what you know, it’s who you know’ is a commonly used phrase. Create and build a network of contacts. Phone them regularly and support them and they’ll be more likely to remember and call you when they have a need. Phone them and tell them about your last freelance project and ask them if there’s anything coming up that you can help with
  • Have a good support system with other self-employed freelancers who you can meet up with socially so that you don’t feel isolated and network with and through them. This is especially important if you are freelancing from home rather than in an office, which the majority of people are with lockdown
  • Attend industry events on-line so that you can see and be seen by key contacts
  • Read the trade news for your profession and keep an eye out for new business wins and moves so that you can take a targeted approach to potential projects, flagging up your relevant sector experience and specialist skills
  • Be efficient with your invoicing. Send them out promptly and keep chasing to keep your cashflow healthy
  • Set up a savings account so that you build up a financial buffer for the quiet times
  • Choose not to worry about getting work. You want to enjoy the benefits and freedom of being freelance, not be shackled by fear and uncertainty of where your next project is coming from
  • Begin making enquiries about possible projects before your current project comes to an end
  • Keep your CV or portfolio up to date and create case studies that you can mail or e mail to current and new contacts
  • Take time out to reflect on what projects you are doing, any learnings and do update your skills and knowledge via continual professional and personal development. Don’t work back-to-back all year and get exhausted or even worse ill
  • Always be professional, smart and do a good job. You are only as good as your last project
  • Remember that you are paid for your time, so remain focused and productive, don’t waste time
  • Make an effort to be friendly with full time employees as they could be a future commissioner of you
  • Collect business cards along the way and add to your database, connect on LinkedIn and consider a personal CRM system
  • Share your flagship projects in the Featured section on LinkedIn

What tips would you add?

More

Read about Energise clients and how we helped them.

Becoming self-employed following redundancy

https://www.inspiringportfoliocareers.com/becoming-self-employed-following-redundancy/

From employment to contracting

https://www.inspiringportfoliocareers.com/from-employment-to-contracting/

How do I become self-employed part 4

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This is part 4 of a 4 part blog series about becoming self employed.

Read part 1 https://www.inspiringportfoliocareers.com/how-do-i-become-self-employed-part-1/

Read part 2 https://www.inspiringportfoliocareers.com/how-do-i-become-self-employed-part-2/

Read part 3 https://www.inspiringportfoliocareers.com/how-do-i-become-self-employed-part-3/

Both Peter and I have run our own businesses for many years. I (Rachel) have spent many more years doing my own thing than being employed. In 2021, it will be 24 years.

Here are 8 tips

  1. Design and print high quality business cards – they speak volumes about you
  2. Networking selectively for your own specialism
  3. Have a superb support system e.g. bookkeeper, proactive accountant, IT
  4. Develop and hone efficient expedient systems, e.g. physical paper and computer file folders from the outset
  5. Back date purchases before you set up your business 
  6. Be adaptable and open to new avenues and opportunities – learn as you go along, learn then teach to embed new learning
  7. Create your own personal image – be authentic
  8. Have a plan but be agile – see what clients/projects you attract

What tips would you add?

More

Read about some of our clients and how they became self-employed.

Hobby becoming a business https://www.inspiringportfoliocareers.com/hobby-becoming-a-business/

From employment in the arts to self-employment https://www.inspiringportfoliocareers.com/from-employment-in-the-arts-to-self-employment/

Contact us to arrange your free 20 minute meeting to explore what would be useful for you: https://www.inspiringportfoliocareers.com/contact-us/

How do I become self-employed part 3

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This is part 3 of a 4 part blog series about becoming self employed.

Read part 1: https://www.inspiringportfoliocareers.com/how-do-i-become-self-employed-part-1/

Read part 2: https://www.inspiringportfoliocareers.com/how-do-i-become-self-employed-part-2/

Both Peter and I have run our own businesses for many years. I (Rachel) have spent many more years doing my own thing than being employed. In 2021, it will be 24 years.

Here are 10 tips

  1. Follow up is key – don’t waste effort going for the ‘new shiny thing’
  2. Be clear on your attitude to risk
  3. Adopt smart tech to work expediently and plan IT reviews and updates
  4. Create a financial ‘cushion’ for quiet times 
  5. Design your business and working environment around your personality type e.g. extrovert or introvert
  6. Make the most of the quiet months (August/December/January) to think and plan, don’t worry that it is quiet – it is a gift! 
  7. Utilise the support of a Virtual PA – play to your strengths
  8. Be honest with yourself – what do you really want, rather than what you think you should do?
  9. Know the key words for your specialism – use Google Keyword planner
  10. Define your personal brand and personal brand assets, e.g. avatar – this is increasingly important in the digital age

What tips would you add?

More

Read about some of our clients and how they became self-employed.

Starting a charity: https://www.inspiringportfoliocareers.com/starting-a-charity/

From insurance to being a piano tutor: https://www.inspiringportfoliocareers.com/from-insurance-to-being-a-piano-tutor/

Contact us to arrange your free 20 minute meeting to explore what would be useful for you: https://www.inspiringportfoliocareers.com/contact-us/

How do I become self-employed part 2

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This is part 2 of a 4 part blog series about becoming self employed.

Read part 1: https://www.inspiringportfoliocareers.com/how-do-i-become-self-employed-part-1/

Both Peter and I have run our own businesses for many years. I (Rachel) have spent many more years doing my own thing than being employed. In 2021, it will be 24 years.

Here are 10 tips

  • Utilise social media to create awareness free – be focused
  • Build your skills – gives you options to develop a portfolio career over time
  • Co-opetition vs collaboration – there can be a fine dividing line between people who do similar work to you being an opportunity to collaborate and being competitive
  • Protect yourself with legal docs e.g. web site terms and conditions, associate agreements etc.
  • Create case studies to demonstrate how you can help clients
  • Gain and share client testimonials
  • Design your business around your personal values – what is really important to you
  • Create a compelling verbal business card – what you answer when asked ‘what do you do?’
  • Support your clients in their roles/careers and they will support you
  • Timing is everything – monitor business and seasonal cycles which influence

What tips would you add?

More

Read about some of our clients and how they became self-employed.

Turning a passion into a business:

https://www.inspiringportfoliocareers.com/turning-a-passion-into-a-business/

Turning a strength into a business:

https://www.inspiringportfoliocareers.com/turning-a-strength-into-a-business/

Contact us to arrange your free 20 minute meeting to explore what would be useful for you: https://www.inspiringportfoliocareers.com/contact-us/

How do I become self-employed part 1

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This is part 1 of a 4 part blog series about becoming self employed.

Both Peter and I have run our own businesses for many years. I (Rachel) have spent many more years doing my own thing than being employed. In 2021, it will be 24 years.

Here are 10 tips

  1. A key decision is whether you want to have your own business or be an associate of someone else’s business, or a mixture – time, money, control and self-marketing considerations of these choices
  2. Use your career heritage as a springboard/foundation for change 
  3. Research thoroughly to ensure a robust decision
  4. Have a coach, mentor and/or personal Board
  5. Do things ‘just in time’ in response to client interest/trends, rather than having everything in place – let go of perfectionism  
  6. Make time to plan, reflect and review regularly
  7. Pre-network before becoming self-employed
  8. Have a clear niche/specialism that you love
  9. Choose the right not wrong associates – do due diligence re referrers – many have established referrer relationships already – don’t waste your time with the wrong ones
  10. Think ‘out of the box’ with your marketing and networking. It doesn’t have to cost a lot of money

What tips would you add?

More

Read about some of our clients and how they became self-employed.

From civil servant to self-employment:

https://www.inspiringportfoliocareers.com/from-civil-servant-to-self-employment/

From employment to self-employment – accountancy:

https://www.inspiringportfoliocareers.com/from-employment-to-self-employment-accountancy/

Contact us to arrange your free 20 minute meeting to explore what would be useful for you: https://www.inspiringportfoliocareers.com/contact-us/