Shaan: You know, normal high school teenage stuff whether it was just going out with friends to parties or it was playing sports or video games or whatever it was. Next, he successfully achieved a band score of 376 points on average per person, which spurred him to create 2400 Prep Expert and train additional teachers. Lori is in charge of determining what the individual wants in terms of a career. After that it just ran on revenue and basically that $900 is now turned into 20 million and so its definitely a good return on investment. I think whats happening now is a similar revolution in development. What is Founder Vesting and how does it work? Shaan Patel of 2400 Expert who's sharing his strategy to get a perfect SAT score (2400) will appear on Shark Tank. You know, if you think about Google SEO, its so hard now, but back then they were able to get me as the number one result for Las Vegas SAT prep within a matter of a few weeks or maybe a month. I also saw Drop Ship Lifestyle sending you traffic. One guy was on PCP and he, like, through a brick through our motel front office window. I know you went very quickly to a couple of million dollars after being off the show, right? You have to give up school, etc. And I was getting crushed. Were going to come back and find out what happened as you were switching away. I had some kind of attraction or affinity for him for a long time and it was so crazy to shake his head. We talked about Toptal, right? You know, I have a biology bachelors. And you know what? I know the founder from online. Andrew: I like that theyre being a little heretical. What was it about you? Mark is like, Ill help you write the book too. And I was like, Oh, thats awesome. . What was . It was like, If youre not 100% in the business, theres going to be someone who is going to outwork you eventually. But then I think, you know, over the course of an hour and a half that I was in the tank, you know, America only sees 15 minutes on TV, but thats edited from the hour and a half that Ive been in the tank. I didnt have the slightest clue on how to start a business or anything about marketing. Andrew: Six million annual. Like, theyll all give me offers. I was so cocky going in. 5. He wants to help students achieve success just like he has. He stated that Shaans problem was that he wasnt a hundred and 10% committed, which is the type of person he was looking at investing in. Not only did Patel receive a full ride to the University of Southern California to pursue his degree in medicine, but he also received over $500,000 in scholarship offers because of his perfect 2400 score. . Its going to sell thousands of copies. And so, yeah, it was incredible after to see the demand with online . So, for example . You also seem to be on anything thats SAT related, like best piece of advice for taking the SAT is shockingly simple. Thats from Business Insider in France, right? Shaan: Because of the show or because of the . Yeah. Sean looked confused, but he decided to take Marks offer. Approximately 40% of students dropped out of school, and they were underprepared for their SATs.. Geeks around globe can not confirm them independently and do not support claims or opinions being completed online. No. Right? Shaan: It was 23 rooms and we basically lived in the front office or like a little living space attached to the front office. They produce various practice papers and test sheets of over 3,000 questions by collaborating with various College Boards. Shaan: Yeah, absolutely. A high SAT score can help you get scholarships and achieve better college outcomes, as Shaan Patel explained during his time on Shark Tank. Hes a lot taller than I expected. "@type": "Question", Its like PR media doesnt care about your business. Shaan said that he grew up in a family of poor immigrant parents who came to America with $65 in their pockets. . In episode 1104 of season 11, Shaan receives his second upgrade. Shaan is looking to sell a 10 percent stake in his company for $250,000. Lori went out, indicating that Shaan didnt know which direction he wanted to take as far as being a doctor or being an entrepreneur. But now we have a third-party firm. And yeah, he was able to relate a little bit better to Generation Z than me or Mark Cuban. Robert wanted to know how much the course cost for the average consumer. Andrew: And the original book as you were thinking about writing it, it was going to be full of that, a little observations that you made that are easy wins, anything thats passive voice and heres a way of knowing passive voice, cross off, its not going to be the answer. } So it was a worthwhile investment for both me and him. So it was a worthwhile investment for both me and him. "mainEntity": [ And the way that I was going to do that is I basically locked myself in the library for an entire summer. Does the fact that this course has been featured on a popular program and received financing from a multi-billionaire guarantee that it is an excellent preparatory course? Andrew: And the only thing you werent doing was the SEO for your site, search engine optimization you hired out. This course was designed by experts who have mastered the SAT personally, and it is created to assist you in improving your SAT score.. Everyone thinks, Oh, soon you have to give up. He couldnt believe my face was on the cover of the book. I mean, the thing, we were using a software platform called ClickMeeting, which I loved for one reason, which is it didnt require students to download additional software onto their Mac or their PC. And youve done some really interesting key things here that have allowed you to grow. Laurie followed it up with asking him if he wants to be a doctor or an entrepreneur. Mark is curious about your aspirations for the next 10 years. No, competitors are found as the idea and business model is new and not familiar with others as to start these type of business a taught knowledge and better achievements are required therefore the chance of competition is very minimum although a company called McCue is operating similarly as Prep Expert, they collaborated with Prep Expert, as Mark Cuban is a common Shark in both companies. So what I decided was, I was going to ace this test. . I mean, I worked a little bit during the school year, but it was really the hibernation, the turning off the rest of the world. His drive was to make his parents proud. He said that the only reason why he was admitted to the prestigious universities was because of his SATs score. Thats what happens at Toptal. Right? . Daymond wants to know if you would consider doing package contents instead of keeping the business model as live classes. Yeah, yeah, yeah. The money will be used to open six new locations. Shaan: I dont think there was much they could stop. Here is the complete analysis! Although he struggled in school, this medical student was able to graduate from Yale and acquire an MBA despite attending a number of impoverished and urban institutions. Copyright 2023 BStrategy Insights| All Right Reserved, What Happened To Coolpeds After Shark Tank? What happened to Prep Expert after Shark Tank? And thats equivalent to taking a student whos in the 50th percentile whos just average to the 90th percentile. Who are the Competitors of 2400 Expert/Prep Expert? Hes the guy who created a company called Prep Expert. ] I kept a notebook and eventually I was able to get a perfect score which the chances of that happening are point 0.02 percent. Shaan Patel is the founder of Prep Expert, an ed-tech company that specializes in online SAT & ACT preparation. Andrew: And he invested how much in the business and what did he get? Ive gotten started within a couple of days. Prep Expert is founded and developed by a young Entrepreneur from Las Vegas, Shaan Patel, he was a young success achiever who secured a perfect score of 2,400 on SAT and went to Clark High School for their further studies. How big did it get because of that? Thanks for liking this post. She went out. So, I mean, we basically use it to help decide how were basically track and see how were doing with our search engine optimization. For a long time, I used to do all the PR myself. That is unreal. Andrew: But it was interesting. . And so I remember, you know, all of the Sharks were like, You cant play it entrepreneurship. However, Mark refuses to accept Shaans response to an offer of $250K for 15%. . And I got a perfect score in SAT. And he was like, stone-cold, not interested. Shawn countered, stating that he would like $300,000 in exchange for 15%. So I was really changing peoples college, outlook, their scholarship opportunities. And that was really huge because it helped us scale very quickly at a very low cost. . Actually not most sites. Sure, man. But you know what? . He wants to be both the doctor and an entrepreneur, And maybe also licensing the product. Disclamer: the amount of Chris Hogan (finance)'s Youtube salary income and Chris Hogan (finance)'s Youtube net They want to improve students efficiency and improve their preparations by providing them right study materials along with the right mentorship. And so you did this. So next company that I launched as Mark Cuban had predicted that Prep Expert wouldnt be my last company was, you know, one thing I learned as we were talking about is the power of digital marketing that it can have for entrepreneurs. Its for people who just look to publish a blog post or two. In addition, it is constantly expanding and refining its methods for the best possible results. Shaan has published Kindle test prep guides, and his guide to SAT essay writing has made the Amazon bestseller list. One is obviously the investment. Shaan: Oh, yeah. So my VP and I were discussing that we should outsource to Toptal or hire full-time. I mean, Shark Tank gets you basically a free $10 million advertisement. Thanks, everybody. The firm deals with General Practice law and was founded in 1934. Got it. He stated that you wanted to expand his business Across the Nation, and ask the Sharks which one of them would like to Invest. Andrew: And it was just a website that the developer you found built for you and a payment process and you were going to what? Its going to be amazing. And every single one came back to me and was like, Dude, the SAT prep market is too competitive. They said I didnt have a platform to write the book. Get it, io like input-output. I wanted to go after LA because of the bigger market. He was registered in a public school located in the local urban area of Nevada, but that did not provide him with the education he sought. Now lets talk about semi-colons and not that hard, especially on this test. And then he teaches that. So like, theres something called couponsplusdeals.com. . Mark Cuban is, obviously, one of the business luminaries in the world, billionaires and I just . . I dont know if my college knows about that, but thats okay. Shaan: Its a separate business. Mark still disagrees with the proposal, although Shaan asked for $300,000 to exchange for a 20 percent stake in the company.. So at the point that I was on Shark Tank, I was really kind of maxed out in Las Vegas, like, there was about 600,000 in revenue coming in from that one location or we had two locations at that point in Vegas in person. And so Id say that the marketing and the investment was just like, the perfect mix of things for us. The SATs can be challenging, but preparation is key. As a result, the programs income has quadrupled to more than $4 million. Shaan Patel founded it. And since then weve done over $20 million in revenue. And the second if youre at a place where you say, You know what? The craziest thing that I saw in the motel. And so you said, You know what? Before Shark Tank, I didnt really do any paid marketing. And we actually wrote a book together about kid entrepreneurship called Kids Startup. And that was a really cool opportunity. I saw that happen with my eyes. . I mean, most of it usually involves like people going crazy on drugs similar to that, Id say. "text": "

Prep Expert is founded and developed by a young Entrepreneur from Las Vegas, Shaan Patel, he was a young success achiever who secured a perfect score of 2,400 on SAT and went to Clark High School for their further studies.

" . And we learned so much about this that I was like, the other thing were really good at, not only are we good at digital marketing, but were good at delivering courses. They wanted to become the largest test providers in the whole nation. And if you do it enough, I mean, perfect practice makes for a perfect score eventually. Kevin was willing to admit that the product was safe. Shaan Patel, the founder of 2400 Prep Expert, is a tale of enthusiasm, dedication, hope, and defying obstacles. Yeah, I definitely read a lot about entrepreneurship, was listening about it, watching videos. And what that did was it helped take our digital marketing to the next level. He declared he would live out the American Dream that his parents had set out for him.. Everything. about how they built their business. The scholarship is open to seniors with at least a 3.0 GPA. Andrew: How do they tell you if they did? He said it has to be oozing it from every pore for them to believe it. Sharks found the idea interesting but they didnt want to invest in his business as they dont find any relevant business in it, therefore all sharks backed them except Mark Cuban who offers him $250,00 but for 20% of their company, Shaan countered them for 15% but Mark rejected it, again Shaan offers him 300,000 for 20% but Mark again rejected, finally Shaan accepted her offer. I tried really hard. Prep Expert is founded and developed by a young Entrepreneur from Las Vegas, Shaan Patel, he was a young success achiever who secured a perfect score of 2,400 on SAT and went to Clark High School for their further studies. Shaan insisted that he was the hardest-working person that he knows other than his father. So the weekend afterwards did about half as much as you did . Andrew: What did you do to get students to come to you in Los Angeles? All I did was word of mouth and let the business grow organically. Bubble is a code-free programming language that lets you build and host web applications without engineers. . Yeah. He says, I scored a perfect score on the SAT and the ACT. Shaan: You know what? Beyond him, what did you do that allowed you to keep growing? Prep expert (earlier as, 2400 expert.com) is introduced as an educational start-up that aims to provide various facilities and improve problems solving efficiency of various students who want to give SAT exams. Wonderful. Shaan: Yes, yes. He said that hes focusing on his business and order to scale it. . Thanks for being here. I think youll be really happy that you did. But I mean, it was important because I hadnt taken the time to do that. ? 2400 Prep Expert achieved over $1 million in sales in only three years, with a 40% profit margin. Shaan: Oh, man, I went to 100 literary agents and publishers and I was like, You know what? I was so excited. I was getting paid to go to college. But instead of explaining passive versus active in every single version of that, I give students easy, simple to use strategies that made sense to me because I was an average student too. They spend millions of dollars creating these highly standardized, highly reproducible, highly accurate question, those questions. WeWork is such a huge thing now, co-working spaces, but back in 2010, 2011, I was learning about co-working spaces, and it was the perfect setup for teaching because for my tutoring and test prep company, I didnt need an office space with a lease, you know, 24/7 because I would only have students coming in basically for classes a few hours a week. That was back in 2015. The thing that I originally wanted, which was publishing a book, probably was the thing that ended up getting me on Shark Tank. . And Im like, Okay. There are like a small Indian community in Vegas that they would like try to make sure that we were a part of, so we didnt get drawn into sort of the community we were actually around. Kevin stated that he was digging himself into a hole. Thanks so much, Andrew. Like Im using Zoom to record with you. Andrew: Right. . Here is the complete analysis!

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