Chad Price is a consultant and successful business owner that has worked hard to develop his passion for helping people into lucrative ventures. The serial entrepreneur started Mako Medical back in 2014 with no understanding of the medical industry but a desire to fill a need. Working through a number of challenges, he has developed Mako Medical into one of the top US health care companies.
In 2019, Chad Price started Bride Genie to give vendors a free way to connect with the brides they want to target for future gigs. In 2015, he invested in Trill A.I., becoming a board member for the company that disrupted the investment community with machine learning predictions for analysts. In 2012, Chad Price became Founder of Element Service Group Mechanical LLC, offering refrigeration, chambers, chillers, and HVAC to corporate clients, including COSTCO, Walmart, Whole Foods, and many others.
Chad completed some higher education through UMUC, but his biggest teacher was a real-world experience. His expertise in mergers and adaptations for growth has led to hundreds of consulting jobs for other organizations, companies, and politicians.
Using his success for the greater good, Chad Price has committed his career to serving God and others. He has followed his instincts to find needs in the community and fill them.
1. Why did you start your business?
The idea for MAKO Medical came after countless appointments and hours of waiting for laboratory test results for my sister. She has a long medical history and we would spend much of our time anticipating the results of various tests performed to better diagnose her illness and get us moving on a path forward. I knew there had to be a better way. After performing much research, connecting with many industry professionals, and setting a solid plan with my business partner Josh Arant, MAKO Medical was born.
2. How do you set goals for your business?
MAKO Medical is a different type of health care company that was established to shake up the industry. Through innovation, technology, faith, and a whole lot of passion for improving the health and lives of our community, we work hard to ensure those who matter most—our clients—come first.
Our goals are set with our clients in mind. We ask ourselves, “how can we best serve our community?” and “in what ways can we improve on the current state of the health care industry?” Often, these questions go hand-in-hand. For instance, with the recent COVID-19 pandemic and moving into flu season, MAKO Medical knew community members would be more confused than ever when symptoms arose. We developed a lab test that would provide results indicating if the individual was positive for either Influenza A, Influenza B, or COVID-19.
Additionally, we root ourselves deep within our community. In 2020 alone, we increased our staff by introducing over 300 new jobs, and we make sure we are taking care of our military veterans and their families. We serve to those who serve our country, and we lead with the mission of being a strong, dependable source for health care and service in Durham and beyond.
3. How do you stay on top of your workload while motivating your staff?
For me, this is easy. I am so passionate about what we do, the products we develop, and the people we serve, I honestly never want to stop working. I am an early riser—waking up at 5:00 am almost every day—and I get right to work, checking emails and responding to those most crucial. I take time to catch up on the day’s news and get a jump start on any issues that need my immediate attention.
When it comes to our staff, we are truly lucky to have the best of the best. Our interview and training process is rigorous, and we ensure that those who are passionate about helping others get the opportunity to become part of the MAKO team.
4. What would you say is your “secret recipe” for success?
I am a serial networker. I enjoy meeting others, discussing the amazing things happening at MAKO, and learning what they are working on. I do not believe success comes individually. We all need each other to move forward in this life, whether that is professionally, personally, or spiritually, and I lead my business and my life in that way.
The more people know me, connect to me, and connect to my business, the more successful we will be. People can see when others speak and react with passion, and that alone is a powerful determiner of success.
5. In your opinion, what are the qualities of a good leader?
Above all else, a leader must be passionate about what they do. They must want to succeed, not only for themselves, but for the greater good of their business, their employees, and the community in which they serve.
A leader takes time to listen, is dedicated to making things better, and is capable of changing directions when things aren’t working out. MAKO was built on an idea to improve the way the health care industry operates. We had no initial experience in the field, and no experience in the scientific process, so we had to pivot and change our plans often in the beginning. But we had heart and determination, and that is essentially what has made us successful.
6. What does the future hold for your business?
MAKO is moving into the pharmacy industry, working on a model that will allow individuals to access over 300 medical prescriptions for free. Our entire belief is that health care should be accessible and straightforward, and moving into another space that helps our community members live and prosper is very exciting.
Along the same lines, we are expanding at a rapid pace, and our main goals include tapping into rural communities, ensuring families everywhere have affordable and reliable access to care.