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When Ashish Gadnis was laid off from his position as president of a Minnesota software development company, he managed to launch his new life before even leaving the parking lot. On the way to his car, he ran into the vice president of operations who had also been let go, and the two decided to start their own business.

The week Jason Wonacott lost his job as director of corporate communications for a Los Angeles online game publisher, he became his own boss and signed on his former employer as his first client.

When news of the Wall Street crash hit every U.S. household, Christine Marchuska felt the effects directly. Working in Manhattan at a major U.S. investment bank, Marchuska saw her layoff as a sign that it was time to become an entrepreneur.

"People look around at the economy, and what they thought were safe and secure positions are no longer safe or secure," says George Solomon, associate professor of management and director of the Center for Entrepreneurial Excellence at The George Washington University. Solomon saw the number of startups increase during the recessions of 1983 and 2001 and predicts they'll increase in the current economy as well.

So if you've just been laid off or think you're about to, get inspired by these entrepreneurs who turned their pink slips into a green light to start businesses.

Attitude is Key

No time is ever a good time for a layoff, but for Gadnis, it couldn't have been a worse time. With a new home and a new baby, losing his job was definitely not part of the plan. However, after receiving the news, Gadnis soon found a business partner, thought up a business name, Forward Hindsight Inc., and registered his new strategy and risk management consulting business all before the day was over.

That was in 2004. Today, Forward Hindsight boasts an impressive list of clients, including Northwest Airlines, and has even expanded into the Middle East and India. In 2008, the Minneapolis-based company made about $3 million in sales, and Gadnis aims to increase that number in the next couple of years.

With extensive experience as former director at United Health Group and head of software development for an e-learning company, Gadnis was equipped with contacts and know-how, but his attitude was the key to getting back on his feet so quickly. Instead of feeling frustrated or incompetent, Gadnis kept his ego in check. "In the past four years, I've learned that in addition to a zero basis for fear, you have to have a zero basis for ego," says Gadnis, 39. "If you have no ego, you can get through any difficult moments." Now, with a successful business under way, Gadnis has set his sights on a much bigger goal: He wants to be working to solve world hunger full time by the time he's 45.

Exit Strategy

When Wonacott lost his job in April 2007, he was prepared. He had caught wind of possible cuts and, having been through a layoff before, wanted to be in the driver's seat this time. He prepared a proposal and, when the fateful day arrived, approached the company's CEO and vice president of marketing with a deal they couldn't refuse: He would continue doing their PR work but wouldn't require the salary or benefits of an employee. They agreed and not only became his first client, but also leveraged their networks to win him two other clients. "I have never professionally been so scared," admits Wonacott, 36, who, thanks to his courage and a good severance package, was able to walk away from the layoff with the beginning phases of Wonacott Communications LLC, a full-service PR and integrated communications practice in Los Angeles.

After holding several PR positions, Wonacott knew the industry well, but wasn't so familiar with owning a business. "Going into a position where you don't have someone else paying you every two weeks, you have to change the way you think," he says. He had also long relied on having the assistance of IT specialists, HR experts and office managers at his fingertips, but when he went out on his own, those responsibilities fell on his shoulders. To cope, he turned to his network, where he found a friend of a friend who could offer tech support when needed. He also found his business accountant and attorney and got business leads for the first six months.