Embracing Change and Taking Risks With David Floyd

Executive Decisions by SYM Financial Advisors

David Floyd is an “actively retired” medical technology executive, now serving as a board member and advisor in healthcare and life sciences. During his 33-year career as a medical technology executive, David has served as a President and CEO, board member, advisor, and consultant for organizations like OrthoWorx, Abbott Spine, and AxioMed Spine Corporation. He has a background in finance, marketing, and technology, and has helped develop transformational strategies and initiatives that have delivered accelerated top-line growth and robust operating results. Currently, David focuses on advising several private equity firms as well as a hedge fund on medical technology and life science investments, and serves as a board member of three companies, including Healthcare Outcomes Performance Co. and Merit Medical Systems, Inc., and as well as serves as an external advisor at Bain & Company,.

Today, David joins me to discuss what he’s learned during his many years in business and how mentorship helped guide his decisions along the way. He describes how he began his career in the medical device industry straight out of college and how the many positions he’s held have allowed him to advance his career quickly. He tells us about how his retirement is going so far and why he prefers the term “active retirement.” We discuss how his support systems at home and with his mentors allowed him to take risks in his career. He provides insight on building great teams, being a leader, and his predictions on how businesses will have to adapt to a post-COVID world. David also reveals how his love for dogs helps him achieve a balance between his personal and professional lives and how dogs led him to some of his most important philanthropic work with the charity, K9s For Warriors.

“Forcing yourself to develop a skill set that's both mental and physical is a really good challenge to sort of keep those learning instincts sharp.” - David Floyd

This week on Executive Decisions:

• The most important lessons David learned in 33 years in business
• Why David prefers the term “actively retired”
• What David learned from taking risks
• How a strong support system helped David advance his career quickly
• How mentorship has helped David learn to make decisions
• How David balanced profitability with doing what’s right
• How to build great teams
• The traits that every great leader needs to succeed
• The art and skill of hiring quality candidates for leadership roles
• The challenges of business in the post-COVID era
• The importance of work/life balance
• The value of the love of a dog
• The significance of a clear mission and written goals
• David’s insights into achieving life goals and gaining clarity of purpose

Resources Mentioned:

• K9s For Warriors

Our Favorite Quotes:

• “Younger professionals might be more about the title and the prestige or the money, but sometimes it's really not about that role. It's about what you are building for the future and the next role.” - Sarah Delahanty
• “Mentoring keeps me focused and engaged because I know what's on people's minds—what their real problems are on a daily basis.” - David Floyd
• “A lot of good has come from many of these large corporations that have advanced things in quality of life.” - Sarah Delahanty

Connect with David Floyd:

• David Floyd on LinkedIn

About SYM Financial and Executive Decisions Podcast

Executive Decisions is a show for business leaders. In each episode, host and financial advisor Sarah Delahanty sits down with executives and local experts who serve them. Together, they tackle some of the harder questions that business leaders face today. From inspiring creativity in the workplace, to managing company politics, to making the best choices with executive compensation, taxes, and lifestyle — our show delivers stories and lessons learned across many industries and lifetimes.

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