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Just got laid off. Now what?
This is my first time getting laid off. Still processing it. My job was starting to feel like a slog so it honestly feels like a burden has been lifted. But a different, more unfamiliar (maybe even somewhat interesting) burden has replaced it - financials.
I know I can file for unemployment. I have to handle some other dumb stuff like 401k, HSA, health insurance. it's kinda more annoying than anything else.
I have some severance but not sure how long it'll take to find a job and I've heard it's hard out there.
I would also love to figure out how to be financially dependent while working for myself but don't know where to start for that.
Looking for any advice from the Tilderino fam.
Sorry to hear that. It sucks, especially when it's completely out of your control. The big thing is to not let it effect your self worth.
I was laid off last summer (software). After the initial shock, it was kind of a relief to not have to constantly worry about it anymore.
It was pretty terrible timing for me, as we'd just started building an addition onto our house and had a baby on the way in 3 months.
I have a spouse whom I could get insurance through, and we could still afford everything on her salary without dipping into our savings, which did make my situation much less stressful than it could have been.
I started job hunting aggressively almost immediately, and it was pretty woeful. Probably 100+ applications in the first month, and I only got a handful of screening calls or interviews. When I finally landed a role, it was actually initiated from a direct message from a recruiter of the company I now work for, I never even applied.
Respond to every recruiter, explore every avenue, make sure you're tailoring your resume when applicable. It's tough out there, but not impossible. But don't be afraid to enjoy yourself either.
damn your timing was terrible! glad you made it through thanks to sound financials. which job boards did you look through?
LinkedIn was my primary tool - though if I saw a job that was a good fit I would typically apply through the company's actual website (if they had one). But I used basically every job board I could to try and find jobs I was particularly well qualified for.
The big problem now is there are tons of AI tools that mass apply to everything, so it's very hard for recruiters to filter through them. So my method is definitely not optimal. The best way is definitely knowing the right people or getting referrals, but that's not always possible.
Basically my experience since working. Getting a job by applying is pretty much a trap. Since getting my degree it’s been 1x job from direct application (back when the SV job market was red hot), and 3x jobs by referrals. I’m not sure I’d even bother trying to send out resumés if I were looking. The time seems better spent networking, and working my network.
What skills do you have? People that can start a successful business usually have 2 or more skills that intersect well. But mostly what you'll need is time and effort. If you have a lot of savings and can spend a year or two exploring options then you could make a reasonable attempt at starting a business. As for how, it doesn't need to be super complicated. Get an LLC, a company bank account, and start providing goods and/or services to people. Just keep good financial records. I used Stripe Atlas for my LLC which ended up being free after Mercury gave me a promo for opening an account with them through Atlas. The taxes are actually pretty simple given I have no employees so it's a pass-through entity.