Failure is a word that sends shivers down the spine of many people. Nobody likes to fail, and we all dread the day when we'll have to face it. However, the truth is that failure is a necessary part of life, and we cannot avoid it. The good news is that failure is not the end of the road; it's an opportunity to learn and grow, especially during layoff recovery.
The current economy is tough, and many people are facing layoffs, job cuts, and other challenges. It's easy to feel discouraged and overwhelmed by these circumstances. However, it's important to remember that failure is not the end of the road. It's an opportunity to learn and grow. As Condoleezza Rice said, "If you have ever been stopped cold in your tracks by one career hurdle or another you know how much it feels like failure. But the truth is, sometimes hurdles are our best friends because they force us to stop and face the fact that it’s time to change something. And changing something is how we find what’s next."
The Ten-Five-Two (10-5-2) Formula
The 10-5-2 Formula is a simple tool that can help you turn failure or a challenging situation into success. Grab the Success Action Plan for valuable career transition tips to help you follow along.
Start by answering these questions:
1. What is the difficult situation (failure, challenge etc) I am dealing with currently?
Clearly articulate what the challenge is, how it makes you feel and what is difficult facing this challenge. This helps you get the internal ramblings out freeing you up. It is like ranting to someone without feeling judged.
2. How can this difficult situation serve me? Write down at least 10 ways this difficult time can have a positive impact on my life?
It may seem difficult at first, but every challenging situation has the potential to bring positive outcomes. Write down ten positive things that will happen because of this situation. Be honest with yourself and think outside the box. Don't limit yourself by the facts around you or the inner voice that says you can't do it. For example, if you're facing a job loss, you could write down like unemployment advice for yourself.
I will have more time to spend with my family and friends.
I will have the opportunity to explore new career options.
I will learn new skills that will make me more marketable.
I will have the chance to start my own business.
I will have the freedom to travel and see the world.
I will have the chance to pursue my passions and hobbies.
I will have more time to volunteer and give back to my community.
I will meet new people who can help me with personal and professional growth strategies.
I will learn how to manage my finances more effectively.
I will become more resilient and better equipped to handle challenges in the future.
Once you have your list of ten positive outcomes, read them out loud to yourself. Let the positive energy flow through you and feel the motivation to move forward.
3. What are five actions/things can I do in the next 3-6 months to fulfill the 10 positive things I wrote down in the table above?
Identify five actions that you can take to make those 10 things come alive. These should be concrete actions you can taken to make that list of ten a reality. Don't worry about addressing every one of those 10 items - pick what works for your timeline. These five specific actions are going to act as your stepping stones, as your markers, your guides, to get to your destination and enhance your career resilience.
4. What two actions will I take in the next one month and share with someone who will be my accountability partner?
Finally identify two immediate actions you can take in the next month to move towards positive outcomes. The most important part of this step is to identify an accountability partner. They can be friend, family, colleague or a coach - someone who is invested in your success and will encourage you. You can have more than one accountability partner if needed.
5. Who will be me my accountability partners with whom I can share my action plan?
Write down the names of the one or two people you identified and share your action plan with them. Meet them regularly over the course of next month and report on your progress and get help.
The Ten-Five-Two Formula is a powerful tool to turn failure into success. It helps you find the opportunities that come with the challenge and take control of the situation. Remember that failure is not the end; it's just the beginning of a new chapter. Embrace it, and you'll be surprised at what you can achieve.
So, if you're going through a tough time right now, give the Ten-Five-Two Formula a try. It's a simple yet effective technique to unleash your potential and achieve your goals.
Download the Success Action Plan to get started.
If you want to delve deeper into this topic, be sure to check out my podcast where you can listen to the extended version of this discussion
Do you need an accountability partner or someone who can support you through a challenging time? I can help. Contact to set up an introductory consultation.
Frequently Asked Questions (FAQs)
What should I do immediately after being laid off?
Immediately after being laid off, it's important to take the following steps:
Secure Finances: Apply for unemployment benefits if eligible and review your financial situation to adjust your budget accordingly.
Update Your Resume: Refresh your resume and LinkedIn profile to reflect your most recent job experiences and skills.
Network: Reach out to your professional network, inform them of your situation, and seek their advice and support.
Reflect: Take some time to process the emotional impact of the layoff and start thinking about your next career steps.