From Wreaths to Riches: Cultivating a Flourishing Non-Exec' Portfolio Career in 2024

As the New Year rolls in with the stealth of a cat burglar on a midnight prowl, many of us whip out our sparkly new notebooks (or a napkin from last night's revelries, no judgement here) and jot down our ambitious New Year's resolutions. Amongst the top contenders: "Build a killer portfolio career!" Sounds great, doesn't it? Well, let me tell you why this particular resolution often ends up in the graveyard of forgotten dreams by February.

Firstly, let's address the elephant in the room: resolutions are like glow sticks, fun for a moment, and then poof! The magic vanishes. Building a portfolio career isn't a one-night stand with success; it's a long-term, committed relationship. It requires dating different roles, flirting with various industries, and sometimes enduring heartbreaks from failed ventures. You can't just swipe right on a portfolio career; it demands wining, dining, and time.

According to the Virtualnonexecs "Non-Executive Roles Survey", 17,296 members of Virtualnonexecs play a pivotal role in thousands of boardrooms, not just as advisors but as key facilitators in major corporate events, marking them as invaluable assets for corporate finance and M&A sectors. Over 60% hold multiple positions across varied sectors, indicating a widespread influence. A striking 85% are involved in strategic planning, with 70% directly influencing exit and succession strategies. This data illustrates that success in building a portfolio career is less about fleeting resolutions and more about ingrained, strategic involvement in diverse business landscapes.

Second, the myth of the "clicking fingers" syndrome. Many enter the New Year with the belief that a swish and flick of their fingers will open doors to a medley of board positions, consultancy gigs, and speaking engagements. The truth? These opportunities are like a high-maintenance date; they require attention, strategy, and charm. Members often engage in businesses at critical junctures such as pre-IPO stages or during acquisition talks, with significant involvement in SMEs, startups, and PLCs. You've got to schmooze at events, network like a pro, and showcase your skills like peacock feathers - bright and unmissable.

Moreover, let's talk about the favour economy.

In the portfolio career cosmos, you're trading more than just your skills; you're exchanging favours, time, and endorsements. It's like a potluck dinner; you bring your best dish to the table, hoping others reciprocate. But here's the catch - not everyone plays fair. You might end up with a raw deal, giving your all to a company or an individual, only to find they've left for the Bahamas with your hard work. Ouch!

Now, don't get me wrong. I'm not saying building a portfolio career is as plausible as spotting a unicorn in your backyard. It's entirely achievable, but it's more marathon than sprint. It requires a concoction of skills, a dollop of patience, and a sprinkle of good timing. According to the Survey, Members dedicate 15-20 hours per month per role, with top earners receiving over £100,000 per annum, highlighting not only their commitment but also the high value of their expertise.

So, as you scribble down your resolutions, be realistic. Rome wasn't built in a day, and neither is a successful portfolio career. Swap the "clicking fingers" for steady, focused effort. Attend workshops, network (online) like you're running for mayor, and build your brand with the tenacity of a beaver on a dam mission. And remember, every "big-wig" with an enviable career portfolio started somewhere - probably with coffee in one hand and determination in the other.

In the end, whether you're aiming to be a boardroom behemoth or a consultancy connoisseur, toss out the notion of overnight success. Embrace the journey, learn from the detours, and maybe, just maybe, next year your resolution can be about maintaining your bustling, successful portfolio career.

Take heart in knowing that over 80% of Virtualnonexecs members report positive experiences, reflecting the rewarding nature of these roles and the effectiveness and strategic importance of networks in positioning members at the heart of significant corporate transactions.

NOTE: To join Virtualnonexecs, visit https://virtualnonexecs.com/#join