4 Key Challenges in Building a Portfolio Career

“Building a portfolio career is an exciting journey, but it’s not without its challenges. At the Advisory Board Centre, we see firsthand how ambitious professionals need both strategy and resilience to bridge the gap between vision and reality. Our goal is to equip them with the insights and tools to make that transition successful.”

Executives and experienced professionals can find exciting opportunities and new challenges in a portfolio career, which involves taking on multiple advisory or board-level engagements instead of a traditional full-time position.

We previously explored some of the key drivers for professionals to engage in advisory boards as part of their portfolio career.?However, the transition to a portfolio career brings its own obstacles.

Brendan Logue, Advisory Board Centre’s General Manager – Advisory Talent, has helped hundreds of executives plan their future.?“Building a portfolio career is an exciting journey, but it’s not without its challenges. At the Advisory Board Centre, we see firsthand how ambitious professionals need both strategy and resilience to bridge the gap between vision and reality. Our goal is to equip them with the insights and tools to make that transition successful.”

Since 2002, the Advisory Board Centre’s research division, the Global Research Council , has studied how strategy is applied to understand the factors that support organisations to achieve their strategic intent and prevent strategic drift.

We’ve applied this same lens to understand how individuals can develop and execute a disciplined approach to build their own portfolio career.?We started by asking professionals to share what they feel are the barriers to getting started.?We’ve also included practical, actionable strategies used by the global advisory community.

1. Time Constraints and Competing Priorities

One of the most frequently cited challenges is finding time to develop a portfolio career while managing full-time executive roles and family/personal obligations.

One respondent said, ‘Time! I am still in an executive role and would love to take time out for this thinking and work.’ Another noted, ‘My executive career dominates my time,’ highlighting how existing responsibilities can limit opportunities to focus on a future portfolio path.

Practical Tips:

• Create a plan: Map out where you want to be and the activities that will help you get there.
• Block dedicated time weekly: Set aside 30-60 minutes a week to make meaningful progress.
• Test the waters: Consider ways that you can build your advisory experience within your current role. This may include establishing and facilitating internal advisory boards for your organisation or industry.

2. Uncertainty Around Value Proposition and Focus

Aspiring portfolio professionals often struggle to define a clear and compelling value proposition. Some are unsure how to package their unique skills and experiences to appeal to prospective clients or boards. This uncertainty leaves them questioning which aspects of their expertise to emphasise and how to position themselves

“Understanding my value (what is it that I can offer that will provide the highest value for companies),” was a concern expressed by one professional. Another stated, “Focus—I have experiences across different sectors… and I’m currently challenged about which part to amplify and focus upon.” For individuals with broad experience, the challenge lies in narrowing their focus to highlight the skills that will have the most impact.

Practical Tips:

• Create a professional inventory: List your top skills and experience areas, networks, and areas of influence.
• Draft a “value statement”: Articulate how your skills and experience translate into specific benefits for potential clients or boards.
• Ask for feedback: Consult with trusted colleagues and mentors to refine your focus.

3. Building Networks and Overcoming Bias

Building a strong professional network is crucial for anyone pursuing a portfolio career, but it’s often challenging. Respondents reported lacking connections in the advisory or board space, making it hard to access opportunities. Others highlighted challenges related to unconscious biases, especially for those new to a particular market or demographic.

Practical Tips:

• Activate your existing networks: Invest time and energy into your core network to create mutual success.
• Build new networks: Attend conferences, seminars, and webinars aligned with your target areas of influence.
• Develop advocates and allies: Identify allies who can identify and share opportunities and introductions that are aligned to your future goals.

4. Lack of Knowledge and Guidance

The journey into a portfolio career is often slowed by a lack of knowledge about the practical steps involved. Some professionals are unclear on how to start, what skills are needed, and how to structure an advisory role or other portfolio engagements. This lack of clarity can lead to uncertainty and hesitation, making the process more daunting.

“I don’t understand how to go about it or what steps to take,” admitted one respondent, while another highlighted a need for “guidance and coaching through a recognised and proven framework and network.” These comments reflect a widespread desire for mentorship and clear information on the logistics of building a successful portfolio career.

Practical Tips:

• Invest in your learning: Learning what to do once you are on a board is very different to the learning you need to actually get you on a board.? We developed the Plan Your Portfolio Career program to address this gap.
• Engage an accountability partner: Connect with an experienced advisor who can help maintain focus and momentum.
• Do great work today: Build your professional reputation today as a foundation for future success.

Create Your Personalised Pathway to the Boardroom

Through our research, education programs and professional membership we have the privilege of speaking with Executives across all backgrounds, sectors and locations.

The conversations are all unique, but the motivations are the same- to explore a personalised pathway that allows the individual to add value and be valued in the work they do.

The most successful portfolio professionals begin developing and executing their plan anywhere from 3-5 years before making a full transition. Just like investing, you can start a portfolio career at any time, but you need time and a well-executed strategy to build sustainable value.

About the Advisory Board Centre

The Advisory Board Centre is the global professional body for the advisory sector. We work collectively with our members to raise the standard of the global advisory sector – driving value for professionals and the organisations they serve.

With members in over 30 countries, the Advisory Board Centre is the leading authority on advisory board best practice and is the only organisation globally that provides certification for advisory board chairs via the Certified Chair? Executive Program .

Through our Advisory+ service we support organisations and government bodies with scoping and establishing best practice advisory boards, undertaking board reviews, board recruitment, and mentoring. Learn more about how we can help you find greater impact from your governance systems.

To learn more about best practice advisory boards, you are invited to access complimentary resources including:

ABF101 Advisory Board Best Practice Framework?

State of the Market Global Report