Older Americans Embrace Entrepreneurship: Joseph Loria’s Inspiring Journey from Layoff to Business Success

Joseph Loria’s Journey to Entrepreneurship: From Layoff to Business Success

In the bustling city of New Orleans, the story of Joseph Loria reflects a growing trend among older Americans who are taking the leap into entrepreneurship. After being laid off in January 2023, Loria decided he wanted more than just another job that could disappear at any moment. Instead, he embraced the challenges of starting his own consulting firm, RetentionCX, specializing in customer experience and management. It’s been a wild ride, but four months in, he’s making it work!

Starting Fresh at 61

At 61, Loria could easily have felt he was “too old” to enter the startup scene, but he flipped that narrative on its head. “It’s about leaning into my age and experience as an asset,” he explained, revealing that he sees his nearly two decades in the customer experience field as a major plus. Many feel that starting a business is reserved for the younger crowd, but a recent survey by Gusto showed that this year, nearly one in four new businesses are from the professional-services industry—especially among folks aged 55 and older, where about 35% are stepping into that arena.

What Drove Him to Take the Plunge?

So, what made Loria kick off his entrepreneurial journey? After losing his job, he got a couple of job offers, but they didn’t pan out. Frustrated and yearning for something more fulfilling, he thought, “I wanted to build something. I wanted to enjoy work in a way that feels sustainable.” That makes total sense! Work should feel purposeful and not simply a means to payday.

A Rocky Start, But He Gained Momentum

Just one month post-launch, Loria had already landed three clients—a promising start! Fast forward to now, he works with three to five clients simultaneously, making RetentionCX his full-time gig. “It’s something I can own, and I can build my own value,” he said, embracing his newfound freedom.

Using Experience to Help Others

Loria recognizes the risks of jumping into entrepreneurship, and he wasn’t naive about it. To navigate these waters, he leaned on his network of seasoned colleagues for guidance. “A lot of younger founders eventually hit a wall based on their lack of experience,” he pointed out, emphasizing his edge. He insightfully noted, “They don’t know what they don’t know.”

Connecting Generations

Interestingly, most of Loria’s clients are young founders in their 20s and 30s, who are creating tech startups. This creates a “natural match” for collaboration—where he can provide seasoned wisdom while they bring the energy of youth. “I appreciate the boldness and drive of younger founders,” he said, noting that he loves mentoring them through the often-daunting world of entrepreneurship.

A Whirlwind Adventure

Reflecting on his first year as a solopreneur, Loria shared, “It’s been a whirlwind getting the company up and running, but I’ve been enjoying the adrenaline rush of building my own creative brand.” Isn’t that inspiring? There’s something beautifully freeing about being your own boss and setting your own agenda.

Sharing the Entrepreneurial Journey

For anyone who’s an older American who decided to take the plunge into entrepreneurship, you’re not alone! More and more people like Loria are finding that age and experience can be a fantastic combo for success in business. If you have your own story to share or want to connect, don’t hesitate to reach out.

Joseph Loria is proof that it’s never too late to reinvent yourself and follow a path that feels right for you. Here’s to more success stories in the world of entrepreneurship!