The Pink Slip Slump

Ultimately, Lynnette launched Advantage World Press, her own publishing company, and became a best-selling personal finance author. “I never once looked back,” she says. “I’m so happy about the way things worked out.”

When tumultuous emotions begin to calm, it’s essential to take care of job-search basics during the first 30 days—things like assessing your skills, updating your résumé, applying for jobs and practicing interviews. “Make the job search your job,” says Charles Wardell, managing director with Korn/Ferry International, an executive search firm in New York. Wardell also says that in doing so, you shouldn’t be embarrassed by your situation. “Most people now have seven or eight jobs or careers in their lifetime. It’s no mark to be unemployed,” he says.

Once you get started on your job search path, your next step is to find some clarity and direction. “A company will often provide outplacement services, such as retraining, career counseling, networking advice and interviewing advice,” Wilson explains. “Take advantage of it, or create your own outplacement plan. It helps, too, to hire a coach to help you envision the possibilities. Assessments and tests can help, but not unless the person has the support around them. The worst thing to do is to approach this experience in a vacuum.”

This clarity might lead to new opportunities that never seemed possible before. For Marisol Richardson of San Mateo, CA, being laid off from her position in sales turned out to be the best thing that ever happened to her. A 17-year veteran in the machinery business, she and her husband were laid off 11 days apart. In the back of her mind, she knew that what she always wanted was to start her own machinery business. “I called a couple of my customers, and they told me, ‘You really should do this on your own. I’ll buy equipment from you,’” she says.

Marisol went to her local Small Business Administration office and the local SCORE office, a non-profit association dedicated to entrepreneur education. She created her own company and the response from customers was so positive that it changed her life. “We were able to move to a bigger house, and our stress levels decreased. The other thing is that I became actively involved with my son’s school and with raising him. It’s the best of both worlds,” she says.