What to Do Before You Lose Your Job
Massive layoffs are happening. Here's what to do next
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Jen “Odd” Glantz here! I feel like every time I read the news, another big company is laying hundreds or thousands of people off, from salad chains to health insurance companies. ‘Tis the season for that, I suppose. I’m not saying this to scare you, but to prepare you. It’s always good to have a plan in place in case you get a meeting on your calendar from your boss that says “Urgent Catch-Up”.
It happened to me in 2015. I was working a job I adored at a tech start-up in Midtown Manhattan. There were rumors about potential lay-offs but I laughed them off. Not me! It will never happen to me! I went to work on a Monday and my boss asked to chat with me at 9am. I sat down, he shut the door, and told me the news. My job there was over. After me, 40 other people were shown the door that day.
It was rough because it was shocking. But I was okay because I had already started making some money on the side through my business and through freelancing. I went home and built out a plan to make sure I could earn enough money and never go back to work for someone else.
It’s been 7-years. 7 YEARS!
So whether or not you just got laid-off or will get laid-off, the tips below are worthwhile to do NOW…in case something happens later.
Ps. know someone who would adore this newsletter?
Do This Before You Get Laid-Off
Organize Your Money
One of the scariest parts of losing your job is losing the paycheck that comes with it. But it can hurt a lot more if your finances are a mess. If you haven’t already done so, get a grip on the following things:
How much are you spending vs. saving every month?
What debt do you have and can you consolidate or pay it off quickly?
Do you have an emergency fund that you contribute to monthly?
What expenses can you instantly cut if you needed to?
Update Your Personal Brand
Having a personal brand is more important now than ever. That’s because a personal brand is not only how you “package” yourself, but how you tell your story and how you present that story IRL and in the digital world. I believe that every person should be able to:
Know their strengths, accomplishments, and unique value and be able to communicate that
Be able to tell their story in 30-second and in 3-paragraphs
Have a website - even if it’s just one page. It helps when people Google you
Know how to leverage your skills and value to get better and bigger opportunities
Get Your Boring Stuff Together
Nobody I know looooves working on their resume and cover letter. But it’s even harder to work on these boring documents when you desperately need them to land you a new job.
So open the files NOW. Just open them and gradually start editing them, sharing them with friends for feedback, and getting them ready in case you need to use them in 2022. You should do this 1-2x a year. That way, if the time comes and you need to have these files ready, they are waiting for you. It will make life sooooo much lesss stressful.
Reach Out to People Before You Need Anything
When you lose your job, people tell you to start asking your network for help. But that doesn’t always work in your favor, especially if you haven’t chatted with people in years.
Before you need help from past colleagues or people you’ve met a few times or people you’re friends with on Linkedin - start rebuilding the connection or relationship with them NOW. NOW. NOW
How do you do that?
Use a people organizer tool - this is the best best best
Read this book - it will teach you exactly how to reach out to people.
Figure Out What Skills You Can Freelance
Take an assessment of your skills. Which ones can you offer on a freelance basis if you needed immediate cash? If you’re not sure, search these sites for ideas and maybe even make a profile on them just in case.
Increase Your Income Sources
Think about building up passive income streams, side hustles, or other sources of income so that if you need the cash, you have a way or earning it other than from your full-time job.
Here are some things to read:
Build Up Other Skills That Might Come in Handy
If you have some free time, start investing in courses or classes or certificates to build up skills you might need for future jobs. Find topics that interest you and learn them in case you need them:
LET’S GET RANDOM:
Random Odd Jobs
Random Tools to Use
Random Stuff You Might Need
Until next week,
Want help starting a summer gig? Grab a coaching session with me!
Jen Glantz is a whimsical entrepreneur, 3x author, podcast host, and all-around pizza-obsessed goofball. You can connect with Jen on LI or IG. If you want 1:1 coaching, this is for you, or if your business wants a badass speaker, check this out.