How to find a second act career

seconfdactcareersTalking about “encore” or “second-act careers” has become a media obsession over the last few years. The assumption seems to be that all you have to do is put up a website offering consulting services of one sort or another and you will instantly have a money-making machine at your disposal.

But the fact is, that Statistics Canada reports thousands of businesses enter and exit the marketplace throughout the year. Unless you understand the market, have clients lined up and are prepared to stay the course, your encore career can end up costing you more than you earn.

That’s why I was intrigued when I found the book “Second-Act Careers” by veteran career coach Nancy Collamer on Amazon and I immediately ordered a copy. The author shows how to identify your favourite interests and expertise that can be repackaged into more than 50 ways to earn income.

Part One includes the following chapters:

Chapter 1: Build multiple streams of expert income. How to monetize your special knowledge, experiences and skills by consulting, coaching, teaching, training and speaking.

Chapter 2: How to create an information empire. Turn your expertise into an information empire. Interviews are featured with a Mom who runs a food blog and a woman who enjoys life in Hawaii while making a healthy five figure annual income selling digital downloads while

Chapter 3: Start a small service business. Service businesses like dog walking, home maintenance, personal shopping and other concierge services can be started with little if any overhead and operated on a part-time basis.

Chapter 4: Buy a business in a box such as a franchise, direct sales or licensing arrangement. Although many people have negative impressions about multi-level marketing companies and franchises, there may be one that is right for you.

Chapter 5: Trade your time for a paycheck. This chapter explores different ways you can earn income as a part-time employee, temporary worker, virtual employee, freelancer or seasonal worker.

Chapter 6: Make a living while making a difference. You may find it very gratifying to port your business or leadership skills into the non-profit sector.

Chapter 7: Get paid to travel. Learn about nine different ways you can get paid to travel or at least paid enough to offset the cost of travel including tour director, tour guide, import-export businesses, working on cruise ships and ideas for volunteer vacations.

Each chapter includes several interesting case studies and in Chapter 8, Collamer discusses ten “reinvention” lessons from people she has profiled. For example, if you can let go of the glossy trappings of your career to do something more personally satisfying, amazing transformations can occur. And while a layoff can feel like the end of the world as you know it, it may turn out to be an amazing opportunity.

In Part 2, Collamer gives a roadmap and a series of exercises to help lead you to the most suitable second act career. She  suggests that you :

  • Envision the life you want.
  • Look to the past for clues to your future.
  • Ask, analyze and assess
  • Research the world of possibilities.
  • Find low risk ways to try out a new career idea before you leave your current job behind.

The book may be a bit “touchy-feely” for some readers but it’s worth taking a look at because it covers a diverse assortment of ideas for creating income on a flexible basis through semi-retirement and the case studies are inspiring. You can purchase a copy of Second-Act Careers: 50+ Ways to Profit from Your Passions During Semi-Retirement from Amazon in either paper or e:reader format.

 

 

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