A year of freelancing & the benefits of a portfolio career
It’s a bit of a red-letter day for me.
This month marks exactly one year since I quit my full-time job in radio, moved down to the big city to make a break of it. In an attempt to measure success & failure, I’ve just been looking back through all the different things I’ve been paid to do in the last year, from making films to writing books.
The big question: has this whole thing been worthwhile, or did I make a massive mistake? Should I have just stayed where I was, kept my head down and hoped for a pay-rise?
The measure I gave myself when I quit was this: ‘just aim to make as much (or more) than you would have done if you’d kept your full time job’. The good news is I made more than I would have done staying put (phewf!)
A portfolio income
What looking back over the last year has really highlighted for me has been the benefits of having what some people are now calling a Portfolio Career: several revenue streams all contributing to a net income. To make that point, and hopefully to encourage more journalists to think about this as a valid career option, I’ve decided to publish my first year finances to the world…
…well sort of.
Here’s a pie-chart showing the rough percentages of everything I’ve earned since going freelance. Naturally, I’m not going to tell you what the percentages financially add up too!
As you can see teaching & academic research makes up the most significant chunk, but documentary work, broadcasting and print contribute roughly a third. This pie chart shows 9 of the different things I’ve been doing this year, although there have probably been around a dozen.
Why have lots of jobs?
I guess the point is this: I love doing every single one of these things: the writing, the teaching, the filming, the directing, the radio…but none of them would I want to do every single day. I’ve learned that having this sort of portfolio income gives me a really exciting variety, and also protects me against the loss of a single revenue stream.
I really think more journalists, writers, presenters, and film makers should consider this way of doing work. And it’s more suited to the 21st century work environment too, with growing numbers becoming self-employed and working from home. The internet is slowly making the office (and maybe even the dreaded commute) more and more redundant.
And even though it’s been a success, I still catch myself thinking, sometimes, even if it had failed - even if I had gone bust and had to go and live with my mum or something – I would still look back at this year and be glad I did it. I have had more adventures, opportunities and excitement than even a top reporter gig on a big radio station could give me, and that’s what matters.
So here’s to year two!