You thought it couldn’t happen to you, but here you are, facing a layoff. “We immediately imagine being overwhelmed by financial problems, losing status and relinquishing relationships we’ve built up over the years,” says Joy Duling, a business strategist and performance coach based in Peoria, Ill.

Instead, Duling says, think of a layoff as an opportunity to reclaim control over your career or to consider a new one. Here are her suggestions:

• Create a career plan. The company is acting on a plan to benefit itself, but it’s your job to look out for you. Once you’ve set a goal, focus your energy and networking efforts to achieve it.
• Prepare yourself financially. Do what you can to reduce debt and cut spending.
• Research your options. Know how your current benefits will be affected by job loss and negotiate the best severance package you can.
• Shift your mindset about the future. There is a world of opportunity awaiting you—what have you always wanted to do?