For most of us there comes a day when we toy with the idea of starting a small business; work stress and frustrated career goals can often leave us thirsting for autonomy and starting a small business seems to fit the bill. But for those who are thinking of starting a small business, the road can be one of sacrifice and learning.

Before starting a small business do as much research as possible. Talk to other people who have started a small business and are willing to give you some guidance, read books by people who have a passion for entrepreneurship, and get online to read as much as possible about the ins and outs of starting a small business. On the Internet you’ll also have access to advocacy organizations developed to help those starting a small business; as well as access to chat forums where you can learn from the experiences of others in your situation

Locally there should also be organizations that can help you in starting a small business. Look at the business advocacy groups in your local area that can offer guidance.

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As shell-shocked as you are, when you’re handed that pink slip it’s hard to think about moving on. Much less what to do next. Especially when the ink on your pink slip isn’t even dry yet. Risking sounding Pollyannaish, I’ll say it anyway. It could end up being one of the best things that’s ever happened to you.

What should you do now?

Unfortunately, no one is immune to losing a job in todays unique economy. Even the best. And current statistics show few employees staying with a company long term; or even reaching retirement with a company they started out with. And whether it’s planned, you knew in advance you’d be downsized out, you can never plan enough.

First things first. Before thinking about moving on, it important - for many reasons - including peace of mind, to determine how you’ll handle paying bills and other personal situations. Next apply for any and all available benefits. Such as unemployment. Check into available medical and/or insurance benefits available. Check on the status of your 401k, if you have one. And any pension plan. Because once you’ve at least done that, you can begin to give a thought to how you’ll move on.

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