David Esposito's Journey From the Battlefield to Scaling Multiple Companies

Today, I am joined by a highly accomplished healthcare executive, David Esposito . David has successfully built and scaled multiple companies, each culminating in strategic buyouts, and currently serves as CEO of ONL Therapeutics . Read an excerpt from our interview below:?

Kimberly: Your journey from a combat veteran to a business executive and CEO is truly inspiring. Can you share some of the pivotal moments or experiences that have shaped your transition from military service to the corporate world over the past few decades?

David: In terms of military service to business transition, there's a whole lot of parallels. If I look back on my military service and career and where I've been in more of a business framework, I think the ability to address change quickly is a key attribute that straddles both disciplines. You have to think about what the plan and mission are and, ultimately, what you want to accomplish. At the end of the day, whether it's when the bullets start flying, or a product launch starts happening, you have to be able to adapt to the data points you have in front of you and move the team or the unit forward toward the objective. Being able to really adapt and change is a hallmark of my journey in both the military and my experience in the first Gulf War, and I am now building a couple of different companies.

Kimberly: Can you share some of the insights or turning points that have defined your career journey over the years??

David: In Life Sciences itself, it's very purposeful work. When you talk about innovation to really alleviate the suffering of patients from various diseases, that's super purposeful work. I think that kind of attraction is what kept me engaged in life sciences. I made a pretty significant shift in my career when I left a large pharmaceutical company after over 15 years and then got into more early-stage companies. On that journey, it was always about the purpose of really bringing innovation to the marketplace to help in the Life Science space. Sometimes you reach a point with large companies where your efforts might be put more towards making the machine work more efficiently than the innovation. I saw a big shift where innovation was happening outside of academic environments, and large companies were acquiring those. That seemed like an exciting place for me to be, so that was a big driver of it.?

Kimberly: What are some of the differences in leadership dynamics you've encountered, and how did you deal with them?

David: The practical reality and difference is that in early-stage companies, especially in Life Sciences where I've been, you're constantly thinking about the runway. The cash runway to keep the business going is incredibly important, and it also gets very personal. When you're scaling a team, you realize that runway is not just a corporate imperative. You're looking into the eyes of people who are coming on board to join a venture, and they have mortgages and car payments just like everybody else. That practical reality gets super personal at an early stage. The second one is that the decisions are much more direct and owned. When you have a small team, you think about things like whether the product is ready for the market, if it is ready to launch, or if you see the performance of the product that’s marketable. I've been in both diagnostics and therapeutics, and those are big decisions. Even in the diagnostics world, every diagnostic is not perfect. So, how do you deal with false positives or false negatives in those diagnostics, knowing that the test is never perfect? Those decisions you have to stomach on your own.?

Kimberly: I was very inspired upon learning that you are a recipient of the Bronze Star for combat operations during the Gulf War. As you've held leadership positions in the military and the business world, what are some universal principles that have guided you over the past few decades?

David: I was an infantry officer, so first and foremost, leadership is about leading from the front. It's not about sitting behind a desk or having a whole host of folks in front of you. Effective leadership is standing in the front and moving the team forward. That's an important attribute that I learned in the military, and I certainly learned in business situations that some leaders need to stand and deliver and be there and call the team to do exactly what they're doing.?

What I think many of us aspire to do is to see ourselves serving a bigger cause or a purpose. It's not about me or the business world; it's not about title, rank, and pay scale. It's about serving a purpose that's bigger than one individual. Whether it's military operations or business operations, things are complicated. Everybody needs a good dose of humility to know that they don't have all the answers. They have to build a good, diverse team around them that may have different points of view and the courage to put them on the table.

Kimberly: How would you describe your opinion changing over the years concerning executives and using their public voice?

David: When I started 30 years ago or wheeled back the clock even before my journey, a lot of executive presence in the corporate world was about driving shareholder value and market share; it was all about performance. There is still that, in essence, of running a business, but I think the dynamics of a corporate, modern-day executive have to think of the fundamental pillars of a good functioning society or country. You think not only about work and the business you're in but also about what's going on in the home and the community. Those three are interwoven in an executive leader’s journey. You have to consider the dynamics of people in their home life that bleed into work. The right kind of corporate policies support a variety of lifestyles.?

Kimberly: What were some of the best things that have happened from you writing your books and being more vocal online?

David: You end up making a lot more friends. The nice thing about online is that your reach can extend pretty broad. It wasn't like growing up where you just kind of had your real physical community. It's given me a chance to experience other people's views and make good connections, both business and personal. It’s been a really good experience for me to get to know people. It’s also been touching, and I find purpose when somebody shares that something I wrote, whether it was in a book or a blog post, was helpful to them. I’ve put out some conversation games over the years, in addition to books that help leaders and parents talk to kids more. Those kinds of meaningful connections made online or through resources I've created are really neat things that keep me going.

Listen to the full episode on Apple Podcasts, Spotify or YouTube.

Subscribe to The Executive Room's newsletter, and don’t miss out on future episodes.