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Bouncing Back

Don't take that pink slip and run--start your own business, with your old boss as your very first client.

This story appears in the March 2002 issue of Entrepreneur. Subscribe »

The sad faces. The closed-door meetings. The severance package. The "times are tough all around" speech.

With layoffs hitting companies all across America, large numbers of workers have lost both their jobs and their financial stability. Unfortunately, that can happen when you work for someone else. But what if--just as your employer is handing you your last paycheck--you say, "I know times are tough, but just in case you still need some help, I'd be willing to do some projects for you on a freelance basis." In a matter of moments, you could turn gray skies to blue and start your life as an independent contractor.

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