So you got laid off, downsized, rightsized -- What next?

About two weeks ago, I got laid off from my well-paying job in the Silicon Valley, which by itself is neither news nor newsworthy. It has happened to millions before and it will happen again. What's more important is to concentrate on how to cope with this situation.

Corporate America is finding more ways than ever to become profitable or more profitable, for the shareholders "demand" this, notwithstanding the fact that many employees are themselves stockholders holding either stock options or 401 (K) plans. As companies grow ever larger and cross national boundaries, individual employees affected by these changes have to become more proactive in countering these changes. So, here are a few things I have learned and am actively putting into practice. As the saying goes, your mileage may vary!

1. Live within your means. I know it's easier said than done, but frittering away your money on frivolous things is really not worth it. Do you actually need a double-whipped, venti, cappuccino latte everyday? Or for that matter, a pair of $200 jeans, a $50,000 car, dinner at fancy restaurants or the next fanciest cellphone?

2. Save money on a regular basis. It requires a little bit of discipline to get into this habit. Most people save money via 401 (K) plans or IRA. Do a little more and you will be surprised at how quickly your savings add up. You can then afford that vacation you've always wanted. Another little aspect to this is to never accumulate credit card debts. I've been fortunate enough not to have any credit card interest payment since 1996. Yay!

3. Work to live, not live to work. A wise man once said: "no one on the deathbed ever said, I wish I'd spent more time at the office." Do not misconstrue this to mean that you do the bare minimum on the job to keep your job. What I am saying is don't kill yourself on the job, otherwise you will be deeply disappointed when that layoff comes, and come it definitely will.

4. Constantly update your skills. This is a no-brainer really. After all, what your next employer will be interested in is what you can bring to the job, not how many hours you put into your previous job.

5. Never burn your bridges at work. Yeah, I know, we all have managers with whom we don't always see eye-to-eye. If you don't get along with your direct manager, ensure that you've made other allies at work; they may be able to provide good references for you.

6. Maintain and cultivate your network. Keep those business cards handy. Every person you meet at work outside of your direct network may become a good source for future jobs. On another note, join professional networking websites such as www.linkedin.com. It's also a good source to look up old acquaintances.

7. Don't take it personally. The business of business is to make money, period. So if you get laid off, think of it as a new lease on life. You can re-examine your options and think about how to get the next best job.

8. Have 6-8 months' living expenses. It does require a lot of discipline, but once you have the comfort that no matter what happens, you can live for at least 6 months without any income, you are that much better off. In my case, I don't have any mortgage payments to worry about. Another reason to live within your means, I suppose.

9. Have some "me time". Go ahead take that holiday you've always wanted. There is more to life than going to work each and everyday like a zombie. Many Americans are not used to living with themselves, and when a layoff comes, it becomes that much more difficult when you don't devote time to your self development.

10. Stay healthy. This is the best time to go to the gym regularly. You don't have the excuse of not having the time. This is also the perfect time to ride that bike, go on a hiking trip, travel, avoid junk food etc.

11. Read. It doesn't matter what you read, as long as you read something. And by the way, turn off that TV. A friend of mine once said -- and wise words at that -- TV is not a medium of communication, it's a substitute for communication. As for me, I've started reading again the complete works of Shakespeare, footnotes and all. Man, it's such a pleasure.

12. Get back to your cooking. Most Americans, don't find time to cook when they are so busy working. Try new cuisines -- the internets (sic) have tons of them.

13. Visit the local library. Yeah, almost every town or city has one or more libraries. They do have DVD's, books, cassette tapes you may want to check out. Go ahead, it's free.

14. Don't get too comfortable. After 6 months or so, lethargy begins to set in. Be careful.

15. Get off your ass and get the next job. Now that you've spent a relaxing time, get back to work. You will feel energized, I promise.

Ibidy, ibidy, ibidy, that's all folks!