Miles of words have been written about dealing with the emotional aspects of losing a job. After the initial shock of not working, the next most stressful aspect of unemployment is generating enough income to live on until you find a new position.
For many executives, a successful job search often can take 18 months to two years -- long after severance checks have run out. Unfortunately, your expenses don't stop when your paycheck does.
Before you tap into savings to survive, consider marketing the skills and experience you acquired and fine-tuned during your employment. These skills were expensive to develop in terms of time and energy and having access to them can be a boon to many companies. By leveraging your special brand of knowledge as a part-time consultant, you can support yourself during your transition.
Being a consultant temporarily also can help your job search. For instance, some human-resource managers view candidates who find ways to apply their skills during their unemployment as more appealing than candidates who don't. Says Dwight Cook, a human resources manager at a high-tech company in Knoxville, Tenn., "I always look more favorably at applicants who have been actively working during the time they've been searching for a new position."
Mike Richards, creative director of a graphics design studio in Knoxville, adds, "A candidate who has kept his skills up during a job search is always more interesting to us. That person shows a lot of initiative. Not only that, we sometimes use consultants and eventually hire them."
The skills you applied in your previous positions were valuable to your employers then and still are. Your task now is to find employers who will pay for your knowledge while you're seeking a new full-time job. To locate and sell your skills to potential clients, consider the following suggestions:
1. Take care of the basics
Some of the tools you'll need to market yourself are elementary. Start by choosing a name for your temporary company, then creating personalized company stationery and business cards that describe what you can do for a company. Also give yourself a title that befits what you do, for instance, John Q. Public, president, senior analyst or human-resources director.
If you aren't skilled enough with computer graphics to create the letterhead yourself, visit a quick print shop that offers basic desktop publishing.
2. Tell everyone
Let all your business and personal contacts know you're available for consulting projects. If you've been actively job hunting, you've probably told everyone you know that you're looking for a new position. Now make sure this same group is aware that you're available for consulting assignments. Don't assume that people "should know" you're now consulting. You must get the word out.
Also inform people in your industry or field beyond your immediate circle of contacts that you're consulting. Start by sending a press release about your new status to every trade or professional journal related to your business activity. Keep it brief, for example:
"John Q. Public, formerly of WXYZ Co., is now heading the newly formed consulting group of 'Your New Company.' "
Briefly state your services and special skills as a consultant and include contact information. One page should be adequate.
Most trade journals have "Industry Watcher" or "People On the Move" columns for such announcements. A side benefit to such a listing may be a boost to your job search, since headhunters routinely scan these columns for likely candidates.
Bob "Jaz" Jastremski, a Mystic, Conn., consultant, believes in the power of personal recommendations. Five years ago, Mr. Jastremski, then a vice president of analysis and technology, was recruited for a top position at a high-tech management company. When the new job didn't meet his expectations, he was faced with a career decision. Rather than seek a traditional executive role, Mr. Jastremski started Mystic Innovations, a consulting firm specializing in enterprise development, an area where he was an expert.
Initially, the firm offered management seminars, in-plant training programs and management advisory services. Mystic Innovations now provides rapid-response team-learning experiences, customized to match a company's priorities for business improvement. After five years as a consultant, Mr. Jastremski is committed to the field and doesn't plan to return to the corporate world. His primary method of attracting business is the same technique most often recommended to job hunters -- networking.
3. Use direct mail
Send a personal marketing letter to target customers. To develop your mailing list, review directories of businesses at your library. The marketing department at your previous employer may also have lists of names you can use. Call to explain your new venture and ask for advice. If your service doesn't compete, there's a good chance you'll receive help.
Be sure to personally address all letters, since pre-printed letters addressed to "Dear Manager" aren't impressive or effective.
4. Become active in trade associations
Ask relevant trade groups if you can join as an individual, not a company, and receive a less expensive membership. Use the group's monthly newsletter to further your goals. Write articles that position you as an expert. Attend meetings and volunteer to be a speaker at regional and national conferences. Remember that you have something to say about your experience.
5. Publish a newsletter
Writing a newsletter and mailing it to your list is another excellent way to advertise your new status. A simple four-page letter, folded to envelope size, is inexpensive and easily mailed. (For a low rate, you may be able to use a computer at a local copy shop for desktop publishing.)
If you don't know what to write, discuss solutions to issues and problems in your field, analyze a current trend, develop a new idea or as a last resort, write about innovative ideas others are pursuing.
It won't be long before you can fill more than four pages. Recipients of your newsletter will perceive you as knowledgeable. When you call on them, they'll remember your publication and may even quote from an article you've written. When the word gets out that you know your business, you'll find it easier to meet and sell potential clients on your skills.
6. Don't be discouraged by rejection
Remember that rejections are part of any business. Be persistent. For each "no" you receive, contact two more people. Your knowledge, skill and experience are valuable. Even if your former employer wasn't smart enough to keep you, other employers will recognize your worth.
Late in 1995, Paul Zimmerman, a former regional vice president of sales at Pioneer Communications of America Inc., a Carson, Calif., electronic products manufacturer, and his wife found themselves unemployed at the same time. Instead of both seeking work and possibly running out of funds, Mr. Zimmerman decided to use his skills to start a consulting firm in Orlando, Fla., where he had relocated.
He created Medialynx, and specialized in guiding businesses to Internet opportunities. Medialynx kept him busy and earning income until he located a new position this year as a computer sales executive. His advice to other executives? "Be persistent and call everyone you know."
-- Mr. Hartigan spent 18 months between positions as a marketing consultant before accepting a job as a national marketing manager at Phillips Interactive Media. He has since semi-retired to Tennessee where he writes for business, trade and consumer publications.
