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7 Ways to Build a Second Career

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7 Ways to Build a Second Career
August 27, 2020

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Have you always wanted a second career? Perhaps you wish to bring in income from another source, or maybe you simply want to explore a passion and are attempting to monetize it. Either way, starting a career is no easy process. However, it can be simple, as the following career-building tips are likely to help you succeed. Keep reading to find out.

1. Pick a niche and stick to it

It's no surprise that professionals appear to be looking for someone with a specialization nowadays. Over the years, economic growth has led to the development of more niche markets with offbeat startups. Start educating yourself on the different niches within your particular career. For instance, if you want to be a baker, you could explore the niches of cupcakes or fondant art. Although 'niche' sounds limiting, specializing early on is a lucrative career-building tip. The fact is that you are more likely to become successful in your career with a specified approach. Being an expert in your niche is a unique selling point. Hence, before you begin your career, choose your specialization.

2. Building a portfolio and network

While it is important to educate yourself about your career, mere consumption will not help you grow. You have to start creating for potential consumers and connecting with people in the field. Luckily, there are enough resources for you to find like-minded people and begin offering your services to a small market. This serves to build a portfolio that will eventually help you take off. A sizable portfolio demonstrates industry experience. By taking those baby steps towards your second career in the form of portfolio building (internships, blog posts, cold emails, job shadowing, and networking) you are exposing yourself to its job market. You are paying attention to what employers or customers want, and what they don't care for. This equips you with useful professional skills that can be used down the line.

3. Work experience matters a lot

Working for the job you wish to eventually offer gives you all the insight you need about that career. The learning experiences gleaned from working are unlike any other. Additionally, you gain major resume brownie points by interning or working with the person you eventually wish to compete against in the market. Customers are willing to take you seriously when you demonstrate industry experience in the field you are offering services in. For example, someone who wishes to launch their own line of skincare comes off as more trustworthy when they show their experience interning or working at a dermatology clinic. Finally, work experience also helps with professional growth through recommendations from your initial few employers.

4. Prepare your finances

Launching a business is not complete without financial planning. This is a mixture of creating an emergency fund, boosting your credit score, and creating a budget. All of these financial moves give your business approach some structure. For example, allocating monetary resources to different aspects of your business can elevate your career planning. Ensure you get rid of any unnecessary expenditures that may be preventing you from making the most of your finances. If you wish to take any business loans, financial planning with respect to how you plan to pay them back is key. When you present a clear business plan to potential lenders and investors, you are likely to gain their trust. Another crucial step for sound financial planning is having life insurance policy. It ensures that you are free to follow your passions while your family is not burdened by your liabilities in your absence.

5. Boost your online presence

This career-building tip is more important than most think. Marketing is where you begin boosting your online presence by gaining social media following and boosting website traffic. Ensure you use all crucial social media tools such as SEO. Keep all accounts interconnected so people can view your online portfolio easily. Use visuals to make your website, social media presence visually attractive. Be consistent with any blog posts and articles as consistency helps you rank higher on pages. Keep your contact information within a customer's reach so they can reach you easily.

6. Have a backup plan

A second career is something you do while having one core income stream. Unless your opportunities for growth are guaranteed in your second career, do not risk your future finances by giving up any current income streams before you take off in a new career. When doing your financial planning, remember to have a backup plan in case, for whatever reason, your career prospects are not being met. Think of the worst case scenario and prepare accordingly. This helps you acknowledge uncertainties and equips you with a secure reaction. One way to be prepared is to have a good life insurance policy that secures your family's financial needs in any unforeseen situation.

ARN:ED/08/20/20193

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Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

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Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

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