What would you do if you got laid off today?

[Gretch]

Originally Posted by Zeke

I'm retired by recession. That's the same as being laid off.

I wish I could believe what you say, Gretch, but those younger execs won't listen to anyone. By the time they are ready to listen, they're already dead in the water. I watch old episodes of American Hot Rod and you can see Boyd Cottington is upside down before his bank account knew it. He talked tough while money was flying out the door.

That's the kind of guy you runinto all the time. Constipated brain.

Sell your services to the owners, NOT the "problem".

Not easy to do and requires (at least it did for me) "reinvention".

Believe this: Somebody is very interested in protecting their investment and cares not for the egos of the operators on the ground. Truth is more than 50% of them fail and need to be relieved of their responsibility.

The key is offering your services to the right people.

[ckelly78z]

At 48, I would like to get a few more years of pension (currently at 14 years) under my belt before that happens. I'm planning on retiring at 60 or 62 and doing something I love for a few years to make money for health benefits (need them more than most people).

If this happened right now, I could take a year or two to figure things out, but would still need 10 more years somewhere.

[flatbutt]

My house isn't paid off yet so I'd prolly look for more Pharma work, or teach high school science.

[rusnak]

Originally Posted by Gretch

I have retired 3 times. Last time was 2010 when I sold my company after the economy trashed what had been a steady climb to success. I was 59 at the time.

I took a year off, worked my ass off on a farm I had acquired in 1996 (labor of love, still doing it), gave my next phase in life a LOT of thought and............ reinvented myself.

It turns out that companies today need the experience gained by actually running companies BEFORE the 90's, (when any idiot could get funding and sell before they had to actually PROVE the investment theme out).

There are a LOT of not-very-experienced executives out there running companies who are hitting a wall because cash is tight, customers are WAY more demanding and the only survivors are comfortable making HARD decisions early enough to keep the cash flowing.

Reinvent yourself....... you have skills the younger generation does not have, THAT is your unfair competitive advantage.

This is a really great post. I would re-read it over and over until it sinks in, Zeke et. al.

[Laneco]

+1 - definately a great post. Gave me plenty to think about...

angela

[Chocaholic]

Originally Posted by Zeke

I wish I could believe what you say, Gretch, but those younger execs won't listen to anyone. By the time they are ready to listen, they're already dead in the water. I watch old episodes of American Hot Rod and you can see Boyd Cottington is upside down before his bank account knew it. He talked tough while money was flying out the door.

That's the kind of guy you runinto all the time. Constipated brain.

Not sure I completely agree. I'm in my mid-50's and am consistently impressed with the intelligence, skills and intuitive business acumen that I'm seeing in the rising stars, at least where I work. The world works differently these days and us older folks are easily frustrated because it's not the way we did it. Doesn't mean it's wrong.

[herr_oberst]

Think I'd pack it in and
buy a pickup.
Take it down to LA.
Find a place to call my own
and try to fix up.
Start a brand new day.

[aigel]

I'd send my wife back to work for the insurance benefits. Then go out as a consultant for a while or start my own business. That's probably until I would find a new full time job that pays well. That's still the best deal for me. Much less strings attached than your own company.

G

[Noah930]

Sue. (Isn't that the great American way?)

Or at least move into Hugh's nice new motorhome.

As I'm a semi-boss, it's hard for me to get laid off in the traditional sense. Unless the government (federal or state) passes legislation that effectively makes what I do for a living (doctor) non-viable from a business perspective. Due to the ridiculous bureaucratic time required in state licensing, obtaining privileges to work at different facilities, and getting on insurance plans, it's not necessarily so quick and easy to switch jobs for me. Were I to move to a different city or state for example, I could have downtime of 6-12 months easily. Again, I'm heading to Hugh's house, err motorhome.

[gassy]

Originally Posted by Porsche-O-Phile

I'd go on my own. I'm sick of making other people rich. It'd be the motivator I need to take the plunge and open my own shop (economy worries, need for stability, family keep me trapped where I am for now). Might be terrible, might be the best thing that ever happened to me - dunno. Hope it doesn't happen.

This is what I did-- tomorrow will actually be my 4th anniversary as a business owner. My previous employer closed 4 years ago without warning. A partner and I scrambled and opened our own commercial photography studio sooner than possible. I convinced clients to follow us and they did. So far so good. Money isn't quite there yet, but in this economy we're still working and slowly growing. Sometimes when your hand is forced you'd be amazed at what you can do.

hartland digital photography studio

[Hugh R]

I got laid off about 14 years ago. I had lots of old clients. I had nice business cards made up and was billing about $5K my first month, and then about $15-20K/month for the next three years until I joined my current employer (a client). Its nice to make money, but very nerve racking when you actually have maybe $1,000 in billable work that you have locked in.

[Gretch]

reinvention is not for pussies.......

One must have a very determined mind set.

No one is going to take care of you if you can't take care of your own obligations, DESPITE what the government wants you to believe.

Damn the torpedoes. Have some dignity, refuse to die on your knees.

[Iciclehead]

Just handed in my notice on Friday, I could have easily stayed but one of the people that I work for apparently was trained in the Adolph Hitler School of Management. I have had enough.

Going to take a few months off until I either feel like going back to work or packing it in permanently. At the moment, it feels like permanent is the way to to. The work environment these days is toxic and, since I have the means to enjoy a comfortable retirement, why would I have the stress.

Dennis

[Bill Douglas]

I got laid off about seven years ago. They paid me quite a bit of money to go and I left crying crocodile tears. I'd bought a number of scruffy old houses over the years so I've spent my time renovating them. Well, did some up and sold them and bought others, but basically renovating my own places and love it. None of that "Yes sir, no sir" sh it that I had working for Unilever.