Happy Summer from Navigating Transitions! There seem to be summer festivals and gatherings happening everywhere I turn, and the big one that recently happened for me is my high school reunion in Eugene, Oregon. It was wonderful to see great friends I haven’t seen in a very long time, and I look forward to staying in better touch going forward. I took the opportunity to spend time with family, including my nieces and nephew, as well.
My high school chums before the Saturday night event (men have not changed into their evening attire!).
Navigating Transitions continues to grow and evolve, supporting new clients around the issues of meaningful career success for Introverts and professionals who want to love their work and make a big difference. Please visit my website, pick up a free Career Clarity Questionnaire, and say hello! Clients I’ve worked with over the last several months or a year have graduated on to new career – or in some cases educational – opportunities. I am thrilled to celebrate these successes together!
In the last month, I’ve begun working with a couple more clients at my new office, near Concord and Walnut Creek. Both of them are Introverts who, after struggling in jobs that burned them out, are interested in finding careers that fit their strengths and give them a greater sense of purpose. One said recently after taking recommended personality and interest assessments, “I see now that I was really in the wrong career for me!” For those who live in or near this area, I am happy to meet in person at this location, as well as continuing to meet with folks in Oakland and remotely over phone and Skype.
Another representative career exploration example I want to share is about my client in New York. She just bought a home, so she doesn’t want to make a big education commitment at this time. Thus, we have narrowed the possibilities down to two careers that use her talents and only require short-term training programs she can complete while continuing to work. It was a breakthrough for her to realize she could find a rewarding career she loves and not need to finish a higher degree. She is also considering creating two simultaneous streams of income, allowing her to build theatre education experience, while supplementing income through a higher-paying job that incorporates other interests within areas of expertise.
My New York client is not alone in building multiple income streams. I see more and more people making the choice to earn a living through multiple income sources, and lots of valuable information about this topic is popping up in the news and on social media. The people who have chosen this path, including I and many of my colleagues and clients, have discovered that multiple income streams can give you more stability because you don’t have to rely wholly on one employer, and it can grant the opportunity to use more of your talents and interests in your work life. It can also lead to more flexibility and free time during the 9-5 work day to spend with family or outside, and allow you to develop a business or one career stream while being financially supported by another income stream. For example, when I began building my business, I continued part-time college teaching and counseling, which I enjoy and which pays well.
Lastly, this strategy can also allow you to accumulate wealth at a faster pace, once debt is paid down. According to research conducted by Thomas C. Corley for a Business Insider article quoted in the article, “Smart People Separate Eggs to Avoid a Scramble,” on smallbiztrends.com, “…65 percent of self-made millionaires had three streams of income. 45 percent had four streams of income. And 29 percent had five or more income streams.” 6/3/2015
As a caviat, of course there are also those who have to work multiple part-time jobs but would prefer one full-time job, which is a separate category, especially when the part-time jobs are low-paying and without benefits. What I’m referring to in this newsletter is making the choice to develop multiple income streams, which may include part-time jobs in different sectors but also passive income streams that, while requiring a surge of effort and time up front, over the long run don’t require a lot of effort. These include real estate and stock investments, intellectual property, and online products and businesses, among other things. For coaches and consultants for example, while they may see clients one-on-one, they may also offer workshops and group programs, as well as home study programs, webinars and e-books, as illustrated in the article, “7 Simple Income Streams (That you can actually create),” by Dave Navarro, The Launch Coach.
Adding to this perspective, Pat Flynn, who blogs at Smart Passive Income, defines passive income in the Forbes article, “Smart Passive Income: 10 Top Tips From Expert Pat Flynn,” as “building online businesses that take advantage of systems of automations that allow transactions, cash flow and growth without requiring a real-time presence. We don’t have to trade our time for money one to one. Instead, we invest our time upfront, creating valuable products and experiences for people, and we reap the benefits of that time invested later.” Here is the full article, if you would like to read more. 8/26/2014
If your excited to know more about the multiple income stream career choice, here are a couple more articles and resources of value. And let me know if you would like career counseling support around building a career with multiple sources of income; I would love to work with you!:
Finally, I continue to enjoy leading the East Bay Career Transition Success Meetup group every month or so, sharing career development information and meeting great new people. The last Meetup event in Albany included:
I will be offering another Career Transition for Introverts workshop in early fall at Rudramandir in Berkeley and will continue to host monthly low-key, high-value networking gatherings in Albany. Here is the link to the East Bay Career Transition Success Meetup page. Please visit us!
I hope you enjoyed and received some value from this newsletter. I welcome your feedback or input on topics you would like to see in future newsletters. I invite you, a friend, family member, or colleague to try a free, half-hour “Into Your Dream Career” strategy session this month. Please call or visit my website today to learn more!
To Your Happiness and Success,
Kristina Bennett, MA
Navigating Transitions Career Counseling
(805) 540-1942 (please text first)
Kristina Bennett, MA, Career Counselor, helping mid-career professionals who are burnt out and frustrated in careers that drain their energy, to discover and transition to meaningful careers that fit and energize them.