Saturday, June 21, 2008

How to "Diversify" Your Career

With the way jobs and work have changed over the past few decades, creating a career out of multiple part-time jobs (and part-time businesses for that matter) can give a person more financial stability and often a higher income.

My own life is a great example of this in that I have 6 or 7 different income sources at any given time. Alone, these incomes would be unstable and would not make sense for a person to do. Combined however, they provide flexibility and a safety net if for some reason something happens with one or two of them. I love what I do and am never bored. Plus I get to spend more time with my husband and can still make money while traveling.

To do something like this without hurting yourself financially, expect for it to at least take you three to five years. If you're working a full-time job right now, start developing one of your part-time jobs, a side-business, or other self-employment ideas during the time you'd normally be doing things like watching TV. You'll be tired for a short period of time, but it makes the transition a lot easier. Starting from scratch is also not a bad option if you don't have a job, but keep in mind it's going to take longer and you'll need to focus quickly on finding good opportunities.

As your income goes up, take that extra money you're making and get yourself out of any debt you have. Over time you'll be able to free up more of your time because you won't be working just to pay payments. This will free you up to drop the full-time job and search for another part-time position or two. Even traditional benefits are not a problem if you plan it right because the increase in income will cover them if you're patient and willing to stick with it.

A major "secret" in all of this is it's not all about working more hours. It's more about flexibility and long-term freeing up more of your time and creating a career that works around your life instead of the other way around. Business books can teach you how to do this as far as creating repeat income.

Online businesses are also great sources for income and can fit a wide variety of interests. You just have to take the time to find ideas that you would enjoy working on. A group of part-time jobs can also accomplish something similar, but you have to keep in mind the income is temporary and still based on your time.

I also work a part-time job because my husband and I have some student loans to pay off. After the debt is completely gone, I can literally do any career that I want without worrying about the money aspect. I think what trips a lot of people up is they think to make money they have to be at a miserable job, and if they want to do what they love they'll have to struggle financially. That just isn't true. You just have to be patient and steady when you decide to change things around for yourself.

One last piece of advice is to read everything you can about business and self-employment before you get started and continue to keep learning as you go. This will help you with a lot of the technical details and help you make fewer mistakes. Every self-employed person makes mistakes and has obstacles, but having the ability to create your own career is worth it.

Life is precious, so we should all make the best of it. I wish you the best and hope you pursue your dream!

No comments:

Search & Win