When investing, your capital is at risk.
Brits are taking home on average an extra £274 a week through side hustling according to Startups. With more time to delve into things outside the traditional 9-5, more and more people are looking at ways to make more money.
Why?
Well the pandemic taught us that we’ve always got to be prepared. But that aside, it’s an opportunity to enhance our wellbeing, enjoy more of the things life has to offer and plan for the future.
The Portfolio Collective were ahead of this rise, establishing themselves as a fast-growing global community for portfolio professionals. They’re working hard to support and accelerate this shift through community, talent matching and virtual teams.
Whilst they’re currently fundraising, we thought it’d be a great time to get to know Ben, Jesús and Fiona, the co-founders behind the brand.
25% of UK adults currently have a side hustle and it’s predicted to rise to 50% by 2028. Why is there a rise in people having multiple sources of income?
There is a two-sided marketplace developing rapidly. Employers – be they companies or individuals – outsource more and more work on a ‘fractional’ basis. This can be anything from assembling an advisory board to hiring a content writer. In parallel, individuals have realised that when working from home they can hold multiple part-time roles instead of just one day job. This gives more flexibility, higher earnings and faster learning.
What is The Portfolio Collective and what inspired you to create it?
The Portfolio Collective is a global community of professionals who support each other in launching and sustaining successful portfolio careers. This includes training, networking, collaborating and finding work. Having a portfolio career can be hard and lonely. We make it easier and more collaborative.
The Portfolio Collective is community-focussed. How are you nurturing your community and using them to increase your reach?
Our biggest source of new members is referrals from existing members. We focus on helping all of our members succeed and feel at home. When their friends and family need support for their careers, they suggest that they join our community. It is very organic and genuine.
What does your competitive landscape look like and how does The Portfolio Collective differentiate itself?
There are many ‘point solutions’ for supporting portfolio professionals, such as specialist training companies, job sites or communities. However, we haven’t found another community that is global, crosses industries and functions, plus helps with training and finding work.
We are becoming the ‘home base’ for portfolio professionals. We then partner with many of those point solutions if their offering is relevant to our members.
Could you tell us about some of your biggest achievements to date?
- We’ve welcomed over 150,000 unique visitors to our site and signed up 6,000 of them to our database.
- Due to the volume and quality of our content, over 200 pages on our website achieve Page 1 on Google for certain searches – giving us domain authority on the subject of portfolio careers, plus lots of free traffic
- 100% 5-Star ratings on Turstpilot
- Built an awesome team of 12 people who work really well together
- We are revenue generating from two sources – Talent Matching and Memberships
How do you plan to create a scalable and profitable business model?
To date we have scaled via word of mouth, content/ SEO and Facebook ads. Going forward we will continue with these growth drivers, plus add job opportunities, partnerships and referral schemes. In terms of profitability, there are many ways to monetise this valuable community. In order of size, these will be talent matching, membership fees, sponsorships, SaaS fees and ads.
What do you plan to do with the money you raise?
The main focuses in 2022 will be scaling and automating Talent Matching, adding more membership functionality and collaboration tools, plus growing our overall membership base with ads and partnerships.
Have you had side hustles yourself? And if so, what were they?
Ben: I have had side hustles since I was a boy. These days they include 1) helping founders build great companies, 2) helping investors make smart investments, and 3) making speeches and teaching/ mentoring at Oxford University.
Jesús: Yes, I have had a few side-hustles over the years. Everything started when I was just a teenager and I offered services to help individuals and local businesses navigate through technology. Throughout my career, I’ve also done some consulting and contract work on the side and been involved in a few startup ventures.
Fiona: Yes, from a young age my creative side hustles (custom art and graphic design requests) has followed me to the present day. Since becoming a certified MBTI and Emotional Intelligence coach a few years ago, I have developed mentoring and coaching clients on the side.
What’s the biggest lesson you’ve learnt so far building The Portfolio Collective?
Ben: How amazing most people are, and can be, with a little introspection, encouragement and time. Our community are all so smart and interesting, but were often frustrated in the past by the straightjacket of their careers, which felt too restricting. When they take off those straightjackets it is amazing to see their careers and lives flourish.
Jesús: The biggest lesson I’ve learnt is the immense power of communities. When we launched The Portfolio Collective, I was amazed by the level of engagement and support we received from portfolio professionals. It was clear that there was a real need for a community like ours and it has been i
ncredibly rewarding to see it grow and thrive.
Fiona: Building The Portfolio Collective has definitely confirmed to me how powerful communities and networks can be. My biggest lesson is that professionals are helpful and generous with their time and experiences. Creating an environment and space that allows peer to peer support for Portfolio Professionals is a must for the future of work.
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The Portfolio Collective’s mission is both inspiring and necessary. They are helping people make more money outside of the traditional structure, improve their quality of life and live a fulfilling one too. To join them on their journey, visit the pitch here.
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