By Jess Lane, Founder of The Full Cup Co. [Career Design for the Future of Work] | 20+ Years Fortune 500 and High-Growth Tech | MA Psychology, Pepperdine University
What is Career Diversification?
The best career advice in the Age of AI is what investors have been telling us for decades: Diversify. Career risk and ROI looks a lot different than it has in the past, and that’s why the advice of playing it safe with a traditional 9-5 is outdated.
One of the best ways to diversify your career is to find multiple income streams that you can create, whoever it is that you are and whatever it is that you do. The idea is NOT to have three different jobs that have you running around like crazy trying to sustain.
Why is Career Diversification Important in the Age of AI?
Traditional work is changing as we know it. and with it, companies are changing how they work. Our careers will be entrepreneurial in the future, because companies will run more lean. But that means more is also possible for us.
Career Diversification allows you to create opportunities and differentation for yourself, vs. just searching for job titles.
Instead, the idea is to identify your unique blueprint in the world to create value that can only come from you, and then figure out the best way to create multiple income streams from that unique blueprint.
What does Career Diversification Look Like in Practice?
Here are a few examples of career diversification from my client success stories. Clients that have identified the intersection of their expertise, strengths, passions, and market opportunities and turn that into a career direction they might never have imagined and that can only come from them. Designed for them, by them, using our proprietary Full Cup Method™.
And me. For example, I have two core products, a newsletter, speaking, licensing and unlimited other opportunities to iterate on the platform of Career Design for The Future of Work.
The idea is that you don’t have to constantly re-invent yourself. You figure out the best execution of where your foundational blueprint meets the market and adapt your tactics as the market evolves. Not fundamentally who are you, what you do or what you offer.
Reduce your dependence on any one source of income or opportunity, and invest in what’s going to give you the best return long-term (ROI).
So how do you leverage your bets in an ever-changing world of work?
You stop defaulting to an unreliable system, and start determining value that can only come from you.
Career Diversification Starts with your Unique Blueprint
No one else has your unique combination of background, values, strengths & skills, beliefs, desired impact i the world and professional and personal experiences. That combination is your unique blueprint in the world, and it informs your human capital, as well as your biggest differentiators. It’s what no one else, including AI, can replicate. When you understand where that meets the market and where work is going, you can design multiple opportunities for yourself vs. commit yourself to a job that may or may not be there in a year.
You can learn more about the Full Cup Method here.
Why Career Transitions Are Costly in More Ways Than One
Career transitions are costly, not only to our financial realities, but our mental health and entire lives.
Schlossberg’s Transition Theory offers a simple and helpful framework called the 4 S’s:
• Situation: Ground yourself with the facts & what’s in your control.
• Self: Stabilize your mindset, health and identify your strengths.
• Support: Understand who and what can best help you navigate this.
• Strategies: Identify potential solutions to your situation and take action.
The key takeaway: Career pivots deserve their own plan and support, especially when navigating the future of work which will look a lot different than it has in the past.
How to Diversify Your Career in Five Steps
Start with yourself, then the market. Identify your strengths, values, and motivations.
Decide what you want your life to look like. Define success beyond your next title.
Explore options beyond the next job title. Consider multiple ways to apply your expertise.
Understand your market value and test opportunities. Research demand and validate before committing.
Create a 90-day plan with support and structure. Turn exploration into action.
These five steps are part of our 90-day career design program. Learn more in our free training.
Frequently Asked Questions About Career Diversification
Is career diversification the same as having multiple jobs?
No. It means developing different professional opportunities or ways to earn, which may or may not involve holding multiple jobs. Typically, you have one platform, or “value prop” and then that comes to life in multiple ways.
Can you diversify your career while working full-time?
Yes. You can begin by developing transferable skills, exploring market opportunities, and testing ideas while respecting your employment obligations. That’s part of what we identify in the Strategic Executive Exit 90 day career design cohort program.
What is the difference between career diversification and a portfolio career?
Career diversification is a strategy for expanding options. A portfolio career is one possible outcome, combining multiple professional roles or activities.
Design Your Next Chapter on Your Terms
Jess Lane is the founder of The Full Cup Co., the career design company for the future of work, creator of the Full Cup Method and Strategic Executive Exit. She has 20+ years of marketing and business leadership across Fortune 500 and high-growth IPO and unicorn technology companies including Porsche, Visa, Michelob ULTRA, and TheRealReal, and a Masters in Psychology from Pepperdine University. She helps experienced professionals design their next chapter and the career meant for them.
Watch the free training and book your call today to get started.
And be sure to subscribe to The Refill™ for free, so you never miss an update.