Author touts self-employment

Stacey Smith submitted this News by You article.

Being laid off can be emotionally and financially devastating. But experts say that self-employment is becoming a more attractive option to people who suddenly find themselves out of work.

"The economic downturn is causing more people to find new and creative ways to earn a living," says Stacey Smith, author of Lipstick Ghetto: The Girls' Guide to Escaping The 9-to-5 Rat Race and founder of Phoenix-based danceyourabsaway.com.

Smith wrote her book and started her online fitness company just months before leaving her corporate job in the telecom industry.

"One week (to the day) after I put my notice in, the office was notified that no one would have a job by the end of the year. So I was able to be ahead of the wrecking ball," says Smith.

After the initial shock, experts like Smith say it's important to not get stuck in self-pity, but to take stock of what it is you really want.

"Losing a job forces you out of your comfort zone," says Smith of those who suddenly find themselves out of work. "It causes you to take more deliberate action toward living the life you really want to live."

In Lipstick Ghetto, Smith offers women tips and advice on topics such as self-image, confidence as well as how to turn their passion into profit. The book is set up to be completed in 10 steps over four weeks.