As companies struggle to stay afloat using restructuring, reorganization and retrenchment strategies, nowadays it's easy for even the most skillful employees to lose their jobs.

If you've been laid off due to cost-cutting measures, your unemployment could actually be a blessing in disguise as many have come to realize the benefits of starting a consulting business instead of applying for similar jobs in other companies.

Change in your job situation can be a good thing for as long as you open yourself to new experiences and challenges.

In the bestselling book "Who Moved My Cheese", author and psychologist Spencer Johnson emphasizes the point that change in most aspects of life is inevitable and that the sooner we move to a new direction, the sooner we are able to find something better to replace them with. You, too, can move on from a terminated employment to a financially rewarding consulting business.

Tips for Starting a Consulting Business

* Work from home: You don't need to spend your exit compensation or savings just to start this business. Consulting is a flexible business that you can do from home, eliminating rent and other overhead expenses in the meantime. Some basic equipment that you'll need is a computer, Internet connection, telephone and fax machine.

* Market to your immediate circle: Your first clients will most likely come from your innermost circle of relatives and friends who own small and medium-sized businesses that may need your expertise. From there, you can build your list of potential clients by asking for referrals and by attending social functions and gatherings where you can give out your business cards.

* Learn new skills: Update your skills by learning new techniques, applications or taking up a short course that can make you an expert at something and allow you to charge premium fees for your services. You can study these on your own or jumpstart your business by investing in a system or tools developed by experts. Tip: Learn a few Internet marketing techniques that most businesses need such as SEO, content writing and email marketing.

* Create your business plan: This need not be a complicated MBA-type feasibility study although you'll need to set your goals, vision, business model and strategies at the onset.

If you are serious about starting a consulting business, you can choose to offer a full menu of services, specialize in one service or create information products that can teach business owners some of your skills which may be valuable to them.

Expect other income opportunities to present themselves as you venture into consultancy, something that you may not have the freedom to undertake if you were still employed.