One of the best things you can do is to sit down and identify your skills, hobbies, and talents. We are all good at something, and this is a good time to write down exactly what that is. It could be a hobby, or something that people are always telling you that you are good at. Whatever you are good at, its time to think about getting paid for it.
Another misconception that people have are the various moneymaking opportunities that are available. Most are scams, but someone is making money out there, and someone has a legitimate moneymaking idea that they are willing to share. Hence Hubpages. I have read tons of different Hubs from fellow Hubbers about other ways outside of Hubpages to make money. And also don't turn a blind eye to manual labor or babysitting opportunities. Those type of jobs may not require a degree, but the cash earned can add up very quickly to get yourself out of debt or build up a nice savings for a rainy day
Be NICE. Word of mouth can get you far when you are trying to hustle or get something out of someone. People skills are paramount when you are trying to move up the corporate ladder, or you are trying to make money from your favorite hobby. Word of mouth is the best way to obtain new clients. Think of it like Myspace/Facebook, the more word of mouth you have with various friends and new clients you have the potential to increase your income from this new found hobby.
I know I am calling it a hustle, but run it as if it was a legitimate business. Business cards help greatly and make you look professional. Purchase an appointment book. your Blackberry and iPhones work also, but technology can and will fail on the most important day you need to use it. So always have a back up of your appointments and contacts on good ol' fashion paper. Dress properly for the type of clients you are trying to impress.
The last thing I can suggest is if you qualify for unemployment benefits, you might still be able to collect your benefits if you have a part time job which will be your new hustle hobby. Check with your local state government requirements.
As with anything, be positive. If this is your first time trying something new, there is a good chance it might fail, but you can learn from your mistakes and move forward stronger and better.