1.) Get involved for an open-source project - Its where the most interesting and influential products are being developed and more importantly, many opensource project are filled with people who are also connected to companies that pay their engineers. Plus, obviously working on a development project will keep you sharp and expand your skill set.
2.) Go to start-up fairs - Wherever people are pitching new businesses, be there. They’re all hiring if not now, then soon. I am partial to the Under the Radar series (I helped start them and moderate at many of them). and there are several a year.
3.) Get project work - You may not have a daily gig, but you still have your skills and there are people who need them. Head over to a project marketplace like oDesk or eLance and pick up some work.
4.) Update your profile - Go to yout pages on LinkedIn, Facebook, Twitter and etc. and let people know you are available for new projects. While your at it, proactively send out notes to your trusted associates that you are for a work.
5.) Learn some new skills - No, I don’t mean to learn Rails if your a java guy. Thats obvious. I mean cooking, rock climbing, riding a motorcycle, something that you didn’t have the time to do while you were in FTE.
6.) Answer some questions - Scan FriendFeed and Twitter Search for people asking questions in your areas of expertise, hang out in message boards on things you know stuff about. You’ll see whats going on in the industry, you might be able to help people out (always worthwhile), and you might also land a tip for a gig.
7.) Get a girlfriend or boyfriend - Don’t let the fact that you have no job, perse, slowd you down. You can still earn some dough. You will have more control over your schedule. And you can spend some of your newfound time with your new friend, assuming this friend doesn’t have his or her own 18-hours a day engineering job.
8.) Campaign in a swing state - Hurry up, though!
9.) Take sometime off - "Invest a little and travel to a seaside town Mexico, even if its just a few days. Mexico is easy to get to, it might be cheaper to live there and lying on a beach is certainly not a bad way to contemplate what you want to do with the rest of your career. At the very least, youll see people who get by on a lot less than we make."
10.) Move out of the bay area- This is very expensive place to live, and the economy is heavily tilted to tech. If you have other skills you might find a better market for them elsewhere and it will less expensive to maintain your lifestyle. Plus, you can continue to the project work.
11.) Buy a new rig - Yes, you’re going to do the obvious and odious task of taking a financial inventory and cutting back to your expenses, but you will also need current tools to pick up projects. You’ll be more positive about working those projects if you’re doing it on a shiny new system configured just the way you like.
12.) Take a pictures - Put your $1,500 dSLR to use by selling stock-art pictures of household objects to Fotolia, ShutterStock, iStockPhoto, Stockexpert, etc. "It’s cheap for people to buy images compared to the traditional stock(photo) market, but it can be lucrative overtime because images sell over and over. I’ve made money without trying to hard. But quality standards are going up, so you can’t just upload any old crap. Brush up on your model releases.
13.) Volunteer - "It can build new skills(like leadership), a new portfolio. Someone capable of making their kids Boy Scout troop turn a profit suddenly looks a lot more proactive than the shlub who catches up on reruns while waiting for Craigilist to pay off."
14.) Start your own company
If you have some savings and can afford to work for peanuts (or less), it’s a great time to start a company. Without the annoying distraction of a booming economy, you can focus on building a product to solve a problem you know people will have again when the economy loosens up. There is still funding, even, for early-stage companies. What should you build? We leave that as an exercise for the reader.