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If I knew then what I know now: Loretta Dignam on World Menopause Day
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To mark World Menopause Day, we spoke to Loretta Dignam, founder and CEO of The Menopause Hub, about her business journey, leadership advice and what supports are needed in Irish workplaces become more inclusive and effective.
What’s one lesson you have learned in business that you wish every woman knew?
In my earlier career I wish that I had more self belief and more self confidence in myself and my opinions. I also wish I had asked for pay rises more often and earlier!
What’s the most valuable piece of business and/or financial advice you ever received?
Two pieces of advice 1. Know your customer inside out! I love customer and consumer insights. We can learn so much from them. I have met many businesses that think they know their customer but do not, sadly. And from a financial perspective, my parent’s advice was ‘Don’t spend what you don’t have’ (or have any chance of earning in the very near future). So, I stick with that personally and professionally, which is why I have bootstrapped The Menopause Hub growth to date.
Is there any life/business/career advice that you were given but (thankfully) ignored?
Yes, I was told that as The Menopause Hub was not profitable after 6 months that I should consider abandoning it before I got into too much debt. Of course I ignored it. The business has experienced double and triple digit growth in the past 4 years and is profitable, while at the same time making a significant difference to women’s lives, personally and professionally.
Describe your career in three words:
Fulfilling, progressive and and now purposeful
What’s your favourite quote that inspires you when you need a boost?
“Nothing ventured, nothing gained.”
This is really my life motto. It applies to taking risks, it applies to surmounting challenges, it applies to speaking your mind. And I apply it in my personal as well as professional life.
What one act supports your creativity?
Sleep. I use a lot of energy every day, doing, thinking, creating, organissing, interacting with people, etc. and the only way I can sustain that is by getting a great night’s sleep. I love my sleep and I am lucky that it is invariably uninterrupted.
Leadership is…
… about inspiring people to walk over hot coals with you (obviously not literally!). We have all worked for those leaders that inspire us so much that we follow their vision and deliver our best for them, every time. They are rare though.
Inclusive workplaces are …
… where everyone can work and feel that there is equity, respect and belonging.
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Building a business is a marathon, not a sprint.
Work-life balance – a myth or something to strive for?
I have always strived for work life balance as I am a single parent and reared my kids myself whilst working full time outside the home. Then I became an entrepreneur. Now the lines are blurred. After my second year at the helm of The Menopause Hub, I realised that building a business is a marathon, not a sprint and that I had better take a more measured approach. Now I am building more downtime and travel into my life which gives more balance.
The IMAGE Business Club aims to build meaningful connections between women in business. Is this something you value and if so, what is the value of building such a network?
I love these events as it is an opportunity to carve out time with the sole purpose of networking and meeting and listening to inspiring women. It also gives me a chance to reflect as well. And women helping women, what’s not to love!
What does success look like for you?
I measure success in three ways. 1: That I have reared two great kidults who can take their place in the world as decent adults. 2: That I am working on a purposeful mission of helping smash the taboo that is menopause and helping women optimise their health, which I hope will be my legacy. 3: That I enjoy my life overall, which I do. I am so happy and content. That’s success to me.
What is one of the most positive shifts you’ve seen in workplaces over the past decade?
I think the shift to hybrid working brought about by Covid is the most positive shift. We have all demonstrated our ability to work productively from places other than the office, saving time on commuting, using technology to help us. Plus we can achieve more in our overall life balance. Men and women can share the domestic workload more, I hope. But maybe we need to see the data first!
What change is well overdue?
Menopause in the workplace supports. We just announced the Menopause Workplace Excellence Awards 2023 in recognition of the pioneering work that employers and teams are delivering in this area.. You can read more here on our blog at themenopausehub.ie
What’s the most over-shared piece of leadership advice given to women? Is it advice to follow or ignore?
The advice I received and believed was that I ‘could have it all’ and be ‘superwoman’. Unfortunately, despite my best efforts it was not true. Everything in life is about making choices and prioritising.
What advice would you give to your younger self?
Get a mentor! And always have a mentor. And formalise it. I didn’t and I wish I had.
If you knew then what you know now, would you do anything differently?
No. I don’t live with regrets. It takes energy away from the now.
Loretta Dignam is founder and CEO of The Menopause Hub. She was a recent speaker at an IMAGE Business Club Networking Event. You can read more about what we learned on the night here.
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