“Norman” was experiencing sticker shock. After years of career success in the corporate world, he had accumulated a healthy nest egg.

But now Norman faced a midlife career crisis. He had just learned his division would be shutting down. To keep his job, he would have to relocate to a distant part of the country. Finding a new job meant fighting age discrimination.

So, Norman thought, why not launch an Internet marketing business? He began exploring and collecting information.

Norman first encountered sticker shock when he learned about the world of Internet marketing seminars.

“Over seven hundred dollars for two days? That’s outrageous!” he exclaimed.

When you’re facing a major career crisis, it’s hard to evaluate prices. I like to draw an analogy with getting a flat tire in the middle of the night. You haven’t bought tires for years and you have no idea what’s realistic.

Worse, you feel stranded. You feel you have to make decisions right away.

And you feel like money keeps dripping away. For career change, the expenses add up. Travel. Moving. Resume Services. Business Start-up.

But I take a different view. I encourage clients to banish words like “cheap” and “expensive” from their vocabularies — forever. Instead, I encourage everyone to respond to sticker shock with three questions.

(a) How does this price relate to the market?

Maybe you’re paying too much. Maybe not.

Before hiring a consultant, attending a seminar, choosing a moving company or buying computer equipment, do some research. Learn the going rate.

Sometimes you’ll get increased value by paying more. Sometimes you won’t. But you should be suspicious of offerings that are way below or way above market price.

Author Barbara Ehrenreich, posing as a corporate job hunter, hired a resume coach who charged by the hour. As reported in her best selling book, Bait and Switch, Ehrenreich’s bill grew larger and larger as the coach found more and more ways to make the resume “perfect.”

Had Ehrenreich checked the market, she would have learned that many resume consultants charge a flat fee, not an hourly rate.

(b) Will you get value for your payment?

Spending a thousand dollars seems like a lot of money…but not if it’s the best way to earn two, three or even ten thousand dollars.

But throwing money at a career or business challenge won’t work either. You have to choose resources that make sense for you as an individual. I know lots of career changers who invested big bucks in education and training – only to realize the promised opportunities didn’t fit their unique profiles.

Norman’s seminar actually was a good value because comparable seminars cost at least twice as much. And a seminar would save him months of research time as he explored new business opportunities. He would meet a dozen experienced, successful entrepreneurs – all potential mentors and role models – in one location. To get comparable value, he’d have to travel all over the country or rely on phone and email connections.

(c) What’s your time frame?

Most clients lose money by trying to move too fast – not paying for coaches, consultants and seminars. They don’t invest time in researching options.

And let’s face it: If you haven’t dealt with a career crisis for a long time, you may not know where to begin. You’re like a motorist who has never had a flat tire – someone who’s misplaced the auto club number or even let the membership lapse because “this will never happen to me.”

One client spent a significant sum to have her resume “blasted” to a thousand employers. She actually was harmed because her name became associated with a company that was distrusted by most legitimate recruiters in her field.

Another client reacted to job loss by calling real estate agents to sell his house. “I need a change of scene,” he declared, making more calls to moving companies.

Six months later, he felt stranded. Someone suggested he give me a call. “I thought I’d love living here – but I hate it,” he said. “I didn’t even know what questions to ask before I came.”

Bottom Line: “Expensive” and “cheap” have new meanings during a career crisis. To transform breakdowns to breakthroughs, we need to discover new ways to think about money.

Based on Transform Your Dollars to Dreams
Learn more.

Before you invest in a stock you might ask your broker what kind of research has been done on the company issuing the stock. You might be especially interested in recent developments: a new patent, a lawsuit, a catastrophe, or even a world event that affects the company. For instance, an airline that draws significant revenue from a particular international route  might be affected by an outbreak of war, regardless of whether the airline’s own country is involved.

(1) Be sensitive to projects  are on the edge. If you are working on a project for a company client, talk to the account exec and sales reps. Be sensitive to any shakiness in the account that might shut down the project.

(2) Study your boss’s priorities (and, if appropriate, the agenda of your boss’s boss). For instance, your boss may have been told to push sales of a particular product or service package. If your own activities do not relate to that product, you might be in a one-down position when you ask for anything.

(3) Don’t assume your boss is more informed than you are (or that she will share the information with you). Talk to people in other departments of the company. Set up google alerts for your company as well as for key people in that company. One administrator at a private university wondered why she wasn’t getting more budget when enrollment was up and profits seemed to be increasing. An Internet scan revealed that the university had pay back certain student loan funds that were collected inappropriately.  There was no hint of criminal action, but the school would have unexpected expenses and a cash shortfall. The administrator not only understood why her projects weren’t getting funded; she developed a new insight into the way information was shared.

Finally, work with facts but pay attention to rumors. Rumors can be wildly exaggerated but often contain some basis in reality. Even more, a persistent rumor can tell you a lot about the company’s culture.

For more information on planning a strategy for your own career, see http://www.midlifecareerstrategy.com/coaching.html

Here’s an article with the title of Five Rules for Job Security from the CBS Moneywatch site.

But in fact they are not about giving you job security. Nobody can do that. Instead, they are about

• mitigating the effects of job loss and
• protecting your financial security in the event of job loss.

The distinction is important. These days you can’t count on job security, although it makes a great headline. The story opens with an anecdote about a marketing executive who was unexpectedly laid off. Fortunately, he had already started a part-time Internet business. He was able to bring in enough revenue to keep paying the bills till he found another job.

What the article doesn’t add is that having this financial security probably gave this man an edge when he applied fora new job. Employers tend to hire people who are confident. I like to think that getting a job is like getting a bank loan. It’s easier when you don’t need it.

This man’s approach, along witih the other techniques proposed in the article, seem to suggest creating a form of career insurance. By way of analogy, when someone steals a precious possession, your insurance allows you to replace it. Nothing guarantees that your object won’t be lost stolen. But insurance can mitigate the damage.

I’d be happy to talk to you about ways to develop your own career insurance. Click on my coaching page to learn more about my services.Ca

An examiner.com columnist wrote an in-your-face column about job-seekers who won’t take action. In this case, he encouraged them to make calls to coaches to get “free” advice. He couldn’t understand why coaches weren’t being inundated with free calls.

Wow…did he get an earful! Most of the comments were scathing.

Read the article and comments here and (in case you can’t see it) below is my response. Please click on “comments” to add your input to this blog (and “share this” if you would like others to see it).

As a career consultant, I would discourage anyone from calling a coach for “free advice and tips” unless you are seriously interested in following up with paid coaching. Here’s why:

(1) Most coaches use their “free” calls as sales calls. Marketing coaches teach techniques for turning the free call into a way to convert queries to clients. You won’t get a lot of great advice in a short call.

[That's why I stopped offering free calls awhile back. Instead, prospective clients can listen to hour-long mp3 calls where they find out what I'm really like.]

(2) Coaches are busy. Even though they say, “No obligation,” I don’t think it’s ethical to take an hour of someone’s time if you have no intention of buying. Anyway, many of the most successful coaches are too busy to take calls.

(3) Free calls typically don’t help you make a wise decision about hiring a coach. I like to say, “The whole dynamic shifts when money changes hands.”

(4) You can get lots of free info when you visit sites by career coaches: articles, mp3 recordings, even live teleseminars. That’s a legitimate way to get free help.

(5) Not everyone is coach-able. Not every situation benefits from coaching. And no coach is right for everyone.

Please click on the “Comments” button to add your opinion.

Today’s Wall Street Journal reviewed a book Rebound, by Martha Finney. Go here to find it on Amazon. Finney puts together a manual of advice for those who have been laid off.

Even better, I would read it even if you’re concerned. Some of her advice involves how to leave gracefully. She includes a scary warning from a lawyer: Raised voices can be interpreted as “workplace violence,” leading to termination for cause with no severance.

But apart from the recommendation, I applaud the WSJ for finally saying what a lot of us have been thinking for a long time.

It’s time to retire What Color Is Your Parachute. The book’s advice was new and  fresh when it was first published. Today, everybody knows they’re supposed to network.

In fact, following the Praachute plan can be hazardous to your career change. Back when the book first appeared, maybe executives really did have time on their hands. Maybe they welcomed a call “just for advice.”

Today’s execs are too busy for info interviews. They get half a dozen requests a week for advice. Experienced career advisors now say, “Don’t try cold-calling for informational interviews. Network to get a referral. You need to say, ‘Jane Jones suggested I call you…’ and hope your target actually remembers Jane fondly.”

Worse, career changers often target self-employed professionals for informational interviews. Those who sell their time are not candidates for free information.

So try this book. Let me know what you think. http://budurl.com/reboundcareers

A Business week columnist presented what she calls “etiquette tips” for those who are laid-off as well as those who survive. Go here to read the column.

A few key ideas:

• When you’re laid off, write a few personal notes to colleagues in your current and recent jobs. Talk about why you enjoyed the business relationship. Don’t be afraid to ask for help with your job search.
• And when friends get laid off, the most helpful thing you can do is to pass along their resumes. Offer specific leads and connections, if you have them.

I would add:

Don’t offer advice unless you’re specifically asked. Unsought advice usually does more harm than good. And if you are laid off, don’t ask for advice from friends, family and colleagues. Ask for information. My rule of thumb is, “Network for information and pay for advice.”

If a close friend or family member has been laid off, send them a gift certificate for career coaching. That will be more helpful than a few luxury lunches. (Of course, an occasional treat will do wonders for their morale.) Other gifts might include a relaxing massage, an Amazon gift certificate or a gift certificate at an office supply store.

Joke gifts will backfire. When I was just starting my business, very conscious of cash flow, a friend sent me a silly book. Normally I would smile but at that time, I could have used a gift certificate at Amazon to buy some books I really needed.

Finally, anyone who’s laid off might consider an Internet business. I’ve listed a few ways to get started on this page: http://www.cathyrecommends.com

It’s easy to get scammed on the Internet. I’ve checked out these sources and they’re legit. I would start with Derek Gehl’s weekend course. I would also subscribe to Connie Ragen Green’s free teleseminars.

Get these 5 excellent suggestions for what to do when unemployed, from Penelope Trunk. Click here.
Here’s what she says, with my comments.

1. Create your own job. Good advice. Julia Cameron talks about actresses who work when they’re not working — they’ll workshop scripts or teach acting classes. Penelope worked in her boyfriend’s company for 2 hours a day, so she didn’t have to say she was unemployed.

2. Focus on accomplishment, not “work per se.” Penelope got into swing dance during one of her laid-off times. I call this developing a creative project, such as writing a novel. You get a sense of accomplishment and purpose, as well as confidence.

3. Start a blog about the work you want to do. Penelope suggests targeting your desired industry. It’s a great way to demonstrate your knowledge in a laid-back, professional way.  She writes, “Everyone who is unemployed should be blogging as a way to get their next job.” I agree.

4. Start your own business. Looks good on your resume and who knows? Might be your next career. My own suggestion: Want to start an Internet business? Consider Alexandria Brown’s blueprint to get started.  .

5. Practice promoting yourself to everyone you meet. Another great idea. Practice speaking professionally, even when you talk to friends.  Then when you “go pro,” you won’t be acting. You will speak this way naturally,

My rule: Don’t ever put yourself down. You’re allowed to share your doubts and fears only with a paid consultant or coach.  Check out my Bragging101 program for specific tips on self-promotion.

The New York TImes posted an op ed piece suggesting that a tough recession will be harder on younger workers than older workers. You can read the article here. The Times ask you to register but they don’t bombard you with all kinds of junk email. I’ve subscribed for years and never had a problem.

There is some truth to this idea. I recommend Malcolm Gladwell’s book, Outliers, which offers a popular version of some theories of life course theory, a field of social psychology. The year you were born can make a huge difference in your opportunities. The person who graduates into a world of opportunity gets a foot in the door at a good company. She doesn’t have to be outstanding to enjoy rewards. Her entire career can be influenced by her very first job out of school.

But at the same time, this fortunate young person can be caught in the crossfire when she turns 50 or even 60. No matter how carefully she’s planned, she might find herself out of work at a challenging time, with fewer opportunities and age discrmination.

A younger person can seek alternative opportunities. If I were in my twenties today,  I would look at the military and the Peace Corps. I would consider law enforcement.

But mostly I would consider starting my own business - a good option at any age.

• Right now in Seattle, my dog walker has no shortage of clients. Some dog walkers in major cities earn over $100,000 a yearm according to a recent book about dogs.
• If you’re a cat groomer who will go into people’s homes, you’ll do very well. I tried to find a mobile cat grooming service in Seattle and gave up.
• Are you willing to clean houses? Provide lawn care? Develop a concierge business? There’s no shortage of opportunity.

The nice thing about owning your business is that you can grow as you learn. You can start out cleaning houses and then use your business acumen to grow into an organizing service or even set up shop as a business consultant. Christine Kloser began her million-dollar-a-year business with a yoga studio.

Government seems to be looking to the WPA of the 1940s as a model for helping the unemployed. I’d like to see a whole new model of employement support: a nationally supported incubator for new businesses, with qualified advisors and coaches, along with tax incentives.

In the 21st century, that’s a far more realistic option than pounding away at corporate doors.

These days, almost everybody feels uncertain about jobs. Fear can lead to paralysis or panic, which in turn lead to bad decisions and searches for a  quick fix. Here are five tempting actions that are best to avoid.

Mistake #1: Hiring a firm to “blast” your resume to a thousand or more prospective employers.  These programs do not get people jobs and they may actually backfire. Employers can spot these campaigns a mile away.  You’ll be branded as naive, desperate or worse.

Mistake #2: Paying anyone who promises to get you “in front of” potential employers. The only people who can do this legally are recruiters. They are paid by employers, not by job seekers.

Mistake #3: Sharing your story with online chat groups and forums. You never know who will be signed on. Some people have gotten jobs through these sources but you must move slowly and carefully.

Mistake #4: Investing time trying to hold on to what’s gone. If your boss (or boss’s boss) has the power to decide your future, then of course it pays to do all the right things: putting in face time, going the extra mile, taking on projects that add to the bottom line.

But we have all met dozens of people who said, “My division was sold. My job will definitely be gone in six months.” And they’re still working long hours. My favorite story: A friend actually attended an all-day training session, knowing her job would be gone in 3 months.

Mistake #5: Waiting to mobilize a support team. When you feel stressed, it’s easy to spend time sharing horror stories with colleagues and friends. A true support team won’t let you dwell on what went wrong. You will be encouraged to take action and move forward. You will be encouraged to recognize your strengths and build new confidence.

We tend to know our true support team when times are tough. And sometimes we have to face the hard task of choosing to let go of downers to be with strong, positive people. You may find yourself reaching out to new friends and recognizing the hidden qualities of family members.

You can also bring in professionals: coaches, therapists, financial advisors and more. Recruiters, colleagues and prospective employers can support you, but you are always “on.” Find a place where you can let go and talk honestly. That way you’re more likely to present your game face when you most need it.

This article came from my ebook – just $9.97 – Guide to Surviving a Layoff. Download from the Reports page.

When you lose your job, the first question that comes to mind is, “How will I survive financially?”

I haven’t seen much good advice for dealing with the financial side of career change, but I like this article:

http://www.fpanet.org/public/tools/jobloss.cfm#steps

Some points I especially like:

• Cobra may not be your best option for health insurance.
• Make at least some effort to negotiate your severance.
• Consider asking for cash instead of outplacement services. Then you can choose your own resource.

Not surprisingly, this article is posted on the website of the Financial Planning Association. When my own clients undergo a career change or crisis, I always recommend sitting down with a licensed, qualified financial planner.

But don’t choose just anybody. Do your homework. Get references. Don’t hire that nice guy (or gal) you just met at the networking meeting.