At 54, where do I start looking for a new job?

A six-figure hole has been gouged from my finances. Two revenue streams have dried up. A three-year term as chair of a property company ended and my work at a TV station was canned. I’m 54 years old — so what do I do next?

Do I even need a new job? I am, after all, still quite busy: I have the radio show, TV appearances and this column. Then there’s my role on the governing council of the Royal Albert Hall and let’s not forget that I’m chair of the Frinton-on-Sea Lawn Tennis Club. It’s quite a roster. But the last two are unpaid. Voluntary positions are like garden bindweed: untended, they will fill any void you might have.

And besides, I may be asset rich, but I’m often cash poor. And there are the ever-rising expenses to contend with: tax, upkeep, holidays and fizz — and the swimming pool isn’t going to heat itself.

So how should I approach this challenge and what gets results?

Before going for any role, be realistic. There’s a whole industry of former FTSE 100 and 250 chief executives on the merry-go-round of boards. Transparency means we know the outgoing chair of NatWest is paid in excess of £750,000 a year. With my experience, the kind of board positions I could reasonably expect to secure typically pay a more modest £50,000-£70,000 for a commitment of 15–20 days a year. Equating to £3,000-£5,000 a day.

One problem I have, is that in my career I’ve done virtually every job people love to hate you for

It would help, certainly. But is it enough?

Dust down your CV, they say, but for what? My CV — like many of my peers’ — is starting to look mildly schizophrenic. Am I a broadcaster? A consultant? Or a business leader? Yes, yes and yes, is my answer — and that isn’t always what recruiters are looking for.

Would I ditch my current roles for one big project? The financial package would have to be significant to tempt me back to the corporate wheel and away from all the fun I have. And besides, I’ve been there, done that, and got the pension. And the corporate umbrella.

Experience, a broad range of skills and active contacts is where value is added. Flushing out these opportunities can be a hard slog, though.

In my experience, unless they call you, headhunters are of limited use. Often appointed to pluck a particular person from their existing employment or to satisfy a diversity requirement. In which case, you’ve got to be the answer to someone’s problem.

I’ve found that a direct approach is more effective. Linkedin can be a great door opener — which is hardly a surprise: it’s a list of your best contacts and what they’re up to.

If you’re on the hunt for new opportunities, you’ll have to throw bread on the water. But whatever you do, avoid asking for a job. You’ll be ghosted. Ask for advice. And do your research on those you meet. And never feel embarrassed by it.

Going full scattergun is less likely to produce results, though. Proving the point, as part of my research, I posted my availability to see what proposals I’d receive. This certainly provoked a response. Some assumed I had time on my hands and would do any old drudge for miserly sums to fill the hours. Worse still were the chancers offering zero-hour contracts assuming I need to build my profile with the equivalent of work experience.

Amusingly, one inquiry arose from my appearance on a reality TV show some 20 years ago and queried whether I’d be up for trying to sell a wolf fleece jacket on a home shopping channel. I’m afraid the sun doesn’t shine where that proposal was filed: I politely declined.

One problem I have, I’ve noticed, is that in my career I’ve done virtually every job people love to hate you for. Trained in real estate, I’m a qualified chartered surveyor. When I say that, everyone hears “estate agent”, slippery salespeople who’d sell their grandmother to get a deal. I’ve done investment banking, reputationally damaged from the blamestorm following the 2008 financial crash. And as a speech radio presenter for the past 20 years, I’ve fuelled conversational flames and reviewed the papers. Or as one critic concluded: “You’re just a noisy gob on a stick.”

And no, I’m not keen to get the full set and become a politician. The pay is appalling.

The point is, any CV needs to cut through perceptions. Some may conclude, from my experience to date, that I’m a gambling, opinionated narcissist, and an expensive one at that. But I think, like most people so categorised, the reality of what I can offer is very different.

Effective networking is essential. Thankfully, I’m exceptionally good at lunch — an underappreciated skill. Alas, unless there’s a restaurant critic position up for grabs, I am not sure “ability to lunch” will clinch the deal.

The older you become, the more important it is to focus on the rarefied skills you possess. Broadcasting, developing strategy or convincing investors may seem incongruous, but they all require effective communication. And I’m sure there will be similar underlying traits to others with portfolio careers.

As the hunt continues, retirement is not an option. Sure, I could downsize, live in a bungalow and buy some slippers. But I’d get bored. I want to be challenged and wake up every day knowing it’s going to be different from the day before. Anyway, I can’t stop working now. I need the money.

James Max is a broadcaster on TV and radio and a property expert. The views expressed are personal. X, Instagram & Threads @thejamesmax