Portfolio Careers Why You Need One and How To Do It by Anne Pryor

Confidential by Anne Pryor anne@pryority.com 2018
Portfolio CareersPortfolio Careers
Creating Your Freedom Plan
Presented by:
Anne PryorAnne Pryor
Portfolio Career Expert
anne@pryority.com
2018

AgendaAgenda
Two Minute Drill
What is a Portfolio Career?
Examples
Creating Portfolio Careers
Exercises
2

Two Minute Drill
 What have you been doing for the past 10 years?
 What/who did you want to be as a child?
 What did your folks want you to be?
 Favorite toy / class?
 What you’d do if you didn’t need to get paid?
3

“Don’t abandon your
dreams, and don’t ever
retire them.”
DAVID CORBETT, AUTHOR, PORTFOLIO LIFE
4

What’s a Portfolio
Career?
Balanced mix of:
 Work
 Learning
 Leisure
 Family time
 Giving back
 Tailored to an individual’s personality
and goals
 Source: David Corbett, Portfolio Life
5

Successful People With
Portfolio Careers
 Like…
 75% satisfied/very satisfied
with choices
 27% control activities
 21% variety
 19% no politics
 Source: Execappointments.com
 Don’t Like….
 57% continuous
networking
 20% marketing, self-
promotion
 32% difficulty finding
right roles
 25% uncertainty
6

Less than 50% of the workforce
in the industrialized world will be in
“proper” full-time jobs
in organizations by the
beginning of the 21st
century.”
Charles Handy
7

Re engineering History
 IBM Credit Experiment
 Michael Hammer & James Champy
 Why six days to get credit to new customer?
 Walked process
 Re-engineered to four hours
 25,00,000 job reduced in 15 years
 Source: JobShift, William Bridges
8

Workplace Facts: Why
Portfolio Careers?
 Shortfall of 18 M by 2018
 Less women are joining workforce
 Executives are leaving earlier
 11.5 M people are self-employed
 5.0 M people work from home
 5.6 M people over 50 self employed (over 33% started their businesses
after age 50)
 Sources: Bureau of Labor Statistics, AARP, The Boomer Project
9

Implications of Workforce Trends
1. Need for skills not easily replicated:
 Judgment
 Intuition
 Ethics
 Inspiration
 Imagination
1. Change towards age in the workplace
2. Knowledge transfer (1/5 large companies will
lose 40% of their talent in 5 years)
10

Portfolio Options
 Multiple employers
 No full-time
 Part-Time, temporary jobs
 Freelance
 Self-employment
 Volunteering
 Teaching
 Interests, skills, themes
11

Portfolio Career Benefits
and Risks
Benefits
• Flexibility
• Variety
• Using multiple skills
• Personal growth
• Passions
• New challenges
• Freedom
Risks
• Security
• Organizational skills
• Self marketing
• Reduced income
• Isolation
• Companies appetite
• Healthcare costs
• Benefits
12

Portfolio Career Trends
Giving back to community
Living passions
Intergenerational connectedness
Location
13

Portfolio
Career
EXAMPLES
14

George Foreman
15

John Tesh
16

Hank Schmelzer – Pruning
Awake
17

Hank Schmelzer – Pruning Awakened Him
 CEO Boston-based financial services company
 Age 50 set five year goal – do what he loved
 Hank’s Process:
 Take time to compress, travel
 Willingness to be open to ideas, journaling
 Me 101 - assessments
 Asked: “What makes me come alive?”
Dad’s Apple Orchards, classes on pruning
 Portfolio Career:
 PT CEO, Maine Community Foundation
18

Peter Harris – Life Gone to the
Dogs
19

Peter Harris
 26 year Accounting Career, partner
 48 years old hit wall
 Assessments, volunteer, family time
 Peter’s Portfolio Career
 PT Tax Consultant
 Volunteer
 Run summer camps… reunite siblings in foster care
 Dog lover – adopted two Greyhounds
 Nursing home pet therapy program
“I don’t think I’ll ever retire. I’ll just change the mix of
the portfolio activities.” Peter HarrisConfidential by Anne Pryor anne@pryority.com 2017
20

Spiritual and Meaningful
Connections
21

Anne’s Freedom Plan
 Goal, age 41 - leave corporate job (retire at 50)
 Freedom Plan
 By age 45, pay off house, debts, save enough for 5 yrs
 Get healthy (individual insurance)
 Get M.A. degree in Spirituality / Health / Counseling
 Age 47 - laid off from corporate job
 Portfolio Career (age 48)
 PT Career Consultant
 Consulting, teaching for non-profits
 Teaching wellness, Nordic Walking
 Created jewelry internet business, Lovitude®
 Speaking and training on LinkedIn & networking
 Volunteering, children’s arts, educationConfidential by Anne Pryor anne@pryority.com 2017
22

Portfolio
Career
EXERCISES
23

Value Proposition
Statement
 What do I do well? Where have my
successes been focused?
 What benefits do I have to offer now?
 Where do I want to contribute?
24

D.A.T.A. Questions
 What do I want to do at this
point in my life?
 (What are your DESIRES?)
 What am I really good at?
 (What are my best ABILITIES?)
25

D.A.T.A Questions
 What kind of a person am I and in what kinds
of situations and I most productive and
satisfied?
 (What is my TEMPERMANT?)
 What advantages do I happen to have / what
aspects of my life history of life situation could I
turn to my own advantage?
 (What are my ASSETS?)
 Source: JobShift, William Bridges
26

Relationships / Network
 What relationships do I have now
that I could leverage for a PT
position?
 Where is my network focused?
27

Reflection
 What experience have you had
with Portfolio Careers?
 What ideas does this trigger for
you?
28

Creating PortfolioCreating Portfolio
Careers: AttributesCareers: Attributes
 Self-starters
 Excellent time management
 Organized
 Believe they control destiny
 Need for independence
 High energy
Source: Dr. Randall Hansen
 Cope with stress
 Not driven by money
 Live with ambiguity
 Non perfectionist
 Love to learn
 Assertive
 Enjoy networking
 Self-aware
29

New Directions Life PortfolioNew Directions Life Portfolio
Process Allocation ModelProcess Allocation Model
30
Internal Drivers
Passion
Energy
Purpose
Calling
Skills
Experience
Credentials
Wisdom
Values
Motivations
Legacy
External Drivers
Financial
Health & Well-
being
Care giving
Spouse / Partner
Preferences
Locations
Source: New Directions Life Model – David Corbett

13 Steps Towards Portfolio
Career
1. Weaning
2. Write a personal mission statement / set intentions / value
proposition
3. Self assessment - hobbies / interests / personality / passions
4. Examine education / favorite classes
5. Review work history / common threads
6. Deconstruct past into skills sets
7. Weigh pros / cons
8. Develop plan: jobs, skills, prospects, schedule, office space, budget
9. Get organized
10. Support team
11. Leverage network / relationships / associations
12. Always be “ON”
13. Develop new mindset / see possibilities / freedom to exploreConfidential by Anne Pryor anne@pryority.com 2017
31

Tactical Planning ExampleTactical Planning Example
32

Tactical PlanningTactical Planning
33

What’s Next?What’s Next?
1. Reflection
2. Assessment
1. MBTI, Strengthsfinder, Strong Int. DISC
2. I believe
3. Skills
4. SME over the years
3. Plan
4. Implement
34

Resources
 The Career Mystique. Phyllis Moen & Patricia
Roehling.
 Portfolio Life, The New Path to Work, Purpose, and
Passion After 50. David Corbett & Richard Higgins.
 JobShift. William Bridges.
 Now Discover Your Strengths. Marcus
Buckingham.
35

Websites
 AARP www.aarp.org
 American Creativity Association
www.amcreativityassoc.org
 AmeriCorps www.americorps.gov
 BoardSource www.ncnb.org
 Boomers Redfining Life After 50
http://p.hostingprod.com/@boomerstv.com/index.php/
 Center on Aging & Work
www.agingandwork.bc.edu
36

Websites
 Civic Ventures www.civicventures.org
 Cross-Cultural Solutions
www.crossculturalsolutions.org
 Doctors Without Borders
www.doctorswithoutborders.org
 Earthwatch Institute www.earthwatch.org
 Elderhostel www.elderhostel.org
 Executive Service Corps www.escus.org
 Experience Corps www.experiencecorps.org
 Global Volunteers www.globalvolunteers.org
37

Websites
 Habitat for Humanity www.habitat.org
 Idealist / Action Without Boarders www.idealist.org
 Institute for the Future www.iftf.org
 International Executive Service Corps www.iesc.org
 International Senior Lawyers Project www.islp.org
 Mentor www.mentoring.org
 MIT AgeLab http://web.mit.edu/agelab
38

Websites National Assn of Corporate Directors www.nacdonline.org
 Osher Lifelong Learning Institutes National Resource Center
www.usm.maine.edu/olli/national/
 Peace Corps www.peachcorps.gov
 Public Policy Institute of CA www.ppic.org
 SCORE www.score.org
 Senior Corps www.seniorcorps.org
39

Websites
 Smithsonian Journeys
www.smithsonianjourneys.org
 University Continuing Education Assn.
www.ucea.edu
 USA Freedom Corps www.freedomcorps.gov
 Volunteer Solutions www.volunteersolutions.org
 World Future Society www.wfs.org
 WorldTeach www.worldteach.org
40

Assessments
Aptitude Testing:
 Watson Glaser – Measures ability to identify critical marketplace opportunities
and/or to understand what activities are critical to the organization’s short-
term survival.
 Wesman – Measures ability to think abstractly and conceptually (i.e. to see the
“big picture”). This aptitude is required for long-term planning.
 Vocabulary – Measures breadth of knowledge.
 Numeric Reasoning – Measures logical-mathematical intelligence, a
requirement for efficiently preparing and monitoring numeric controls.
 Verbal Reasoning – Measures the ability to use sequential logic to persuade
others to one’s point of view.
 Space Visualization – Measures ability to think in three dimensions, mechanical
orientation, logistical ability, and the capacity to navigate one’s way through
multiple, simultaneous demands.
39

Resources For Portfolio
Careers
BOOK IN CPI LIBRARY:
 Corbett, David D. and Higgins, Richard. Portfolio Life: The New Path to Work, Purpose,
and Passion after 50. Jossey-Bass, 2006. [HB 2583 .C67 2007]
ONLINE ARTICLES:
 Ham, Nina, CPCC, LCSW. “Portrait of a Portfolio Career: Answer to the ‘Perfect Job’?”
Summer 2004.
 http://tinyurl.com/PortfolioCareerPerfectJob
 Hansen, Randall S., Ph.D. “Quintessential Careers: 10 Portfolio Career Tips.”
 http://www.quintcareers.com/portfolio_career_tips.html
 Hansen, Randall S., Ph.D. “Quintessential Careers: Portfolio Careers: Creating a
Career of Multiple Part-Time Jobs.”
 http://www.quintcareers.com/portfolio_careers.html
 Jacowski, Tony. “A Portrait of a Portfolio Career: An Answer to the Perfect Job?”
3/4/2007 http://tinyurl.com/PortfolioPortrait
42

Resources For Portfolio
Careers
Online Articles:
 King, Chris. “Creative Keys: What Is a Portfolio Career and How
Can I Get One?”
 http://www.creativekeys.net/portfoliocareer3.htm
 Spherion. “Portfolio Careers are on the Rise.” 2008.
 http://tinyurl.com/SpherionPortfolioCareers
 Trunk, Penelope. “Brazen Careerist:v The Portfolio Career: To
Find Fulfillment Try Simultaneous Careers.” 7/4/2006
 http://tinyurl.com/PortfolioCareer
 Wilcox, Angela. “Portfolio Careers Represent a New Trend in
Today’s Society.” 10/27/2008
 http://tinyurl.com/PortfolioNewTrend
43

“
“Work is Love in Action”
Thank you!Thank you!
Anne Pryor
anne@pryority.com

Portfolio Careers Why You Need One and How To Do It by Anne Pryor

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