What to Do BEFORE You Lose Your Job

I l @ ve RuBoard

If you can sense that your job is in trouble, there are few important measures to take before you're handed the pink slip, such as:

1. Take advantage of everything your company has to offer while you still have it. That includes:

   • Health examinations for you and the family (medical, dental, and vision)

   • Professional training (workshops, conferences)

2. Get your financial house in order.

   • Bring down your credit card balances

   • Eliminate excess spending where you can

   • Investigate where you can get funds (money, loans) if you need them

   • Make sure your pension and 401-Ks are protected (and it's all not in company stock)

   • Make sure that your life insurance benefits are protected

   • Review your benefits package and make sure the information is correct

   • Put aside some cash from your check each week

   • Consider a part-time moonlighting position

3. Construct a plan of what you will do when the inevitable happens

   • Contact head hunters

   • Rework your resume

   • Broaden your skills with some college or professional courses

   • Go through your Rolodex and make sure you have your contacts in order

   • Network with others in the industry and learn where new opportunities exist

4. Consider starting your own business from home

   • Research the market

   • Visit lenders (banks, venture capitalists)

   • Write a business plan

   • Visit a SCORE office for free advice from retired executives or contact a SBA office (for more information, see Appendix A).

I l @ ve RuBoard