That helped you grow. They provide various experts and students who can solve quires and provide them solutions for their questions, they have also collaborated with various college boards to prepare their model papers and test sheets that help students to know the exact patterns and questions levels for that particular exams. 2400Expert The #1 Hub for eLearning, Reviews & Analysis SAT 13 Best SAT Prep Books For Better Scores (2023 Edition) evelyn jones April 10, 2023 College 11 Like, I was just going to do school really well and I was going to do the business really well. Contact us: [emailprotected]. And so, you know, I went on Shark Tank for two reasons. It was the only capital I really sunk into the business. And then we got a Shark Tank investment, I brought marketers in. So we white label, our courses, our pre-recorded courses to some companies and with our largest licenser we doubled the . Did you disappear? Its been a pleasure. I was like, Oh, maybe Damon will give me an offer. When Shaan is looking to hire he will talk to a matcher first. . And that has resulted in hundreds of thousands of dollars in net profit extra. Both Robert and Kevin do not believe that a part-time entrepreneur can sacrifice his life for his business, and they left the proposal. We had done about $1 million in total in the few years we were in business before Shark Tank. And now it makes sense. And Mark was not only interested to know about it. But it was way better and I became much more successful in a smaller pond like Vegas where I could really own it and become the biggest test prep provider quickly because there was not as much competition. Okay, but . 2400 Experts costs $590 for a 60-hour course online. . Why is he one of the co-authors on your book with Mark Cuban? . And in 2010, it was way easier to game Google and game the SEO sort of battle than it is now in 2020. Shaan: And the big thing about that is, like, I wasnt pitching them on my business. I wanted to go after LA because of the bigger market. Coursera Plus Discount Offer | March Exclusive Offer Limited Time Deal on Coursera Plus Get Coursera Plus Annual for $199 with a Read More 12+ Best Statistics Courses With Certifications In 2023 Leave a Comment / Online Courses / By evelyn jones . And so the way that we supercharged it was with Facebook ads, weve been able to sometimes get 15X returns with Facebook ads, Instagram advertising, Google AdWords, Pinterest, Quora, Snapchat. He accepted a $250,000 offer from Mark Cuban for a 20% stake, valuing the company at $1.25 million. You can create whole apps without coding. Thanks, Shaan. He wanted to know how he would be able to Market the product to customers who did not know that he exists, and would instead turn to known quantities like Kaplan and Princeton Review. Why dont we end it by telling people again about . But you grew up in Vegas. }. This reputable law firm is situated in Washington DC and has around 2,500 attorneys practicing. Shaan Patel founded 2400 Expert in 2011. Take me to just before Shark Tank? I mean, youre on there for 15 minutes talking about your business on primetime television to 10 million Americans. I talked about my dads work ethic, about how my dad used to wake up from 5:00 a.m. to 2:00 p.m. hed be a pharmacist, then he worked at the motel, then hed work at the gas station he eventually bought, and like how I modeled myself after that. I got a quarter-million dollars in college scholarships. Youd have to talk to my marketing team. Like, I was like, Oh yeah, weve done $1 million in revenue over the past few years. I mean, I was pretty down and out of that. . Shaan: Not to mention the co-authoring of the book. Now lets talk about semi-colons and not that hard, especially on this test. And then he teaches that. And so you did this. He started talking about his nephew who could use the book. Andrew: From your college scholarship money. Ian McCue took the Prep Expert SAT Course as a 9th grader in high school. . One is obviously the investment. Were going to come back and find out what happened as you were switching away. Prep Expert is currently becoming the widely used SAT and ACT prep resource, especially amongst students and parents. 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. Shaan said that hes always been in school, but hes always been an entrepreneur her as well. Through effort, they opened a motel and paved the way for Shaans success. . . We ended up hiring full-time for our needs, but were going to supplement with some Toptal developers in the future. I was like, This is going to be the first book thats ever written by a perfect score student. Mark said no again. Speaking up, by the way, freezing. And Im like, Okay. Find out in our 2400 Expert update. We still love Adobe Connect because its actually built for education, and so theres a lot more you can do around polling questions, using whiteboards, etc. Shaan stated that about 40% of the business was online, considering he just started six months ago. Shaan: Yeah, yeah. . It was like June, July, August, your summer. And once I started to use digital marketing in the business, I mean, you know, as weve talked about . And he eventually made me an offer for $250,000 in exchange for 20% equity. In fact, Im going to let you try it and give you a nice big offer to get going with it. Prepexpert.com. Everything. In addition to Shaans other eight novels, this is yet another crowning achievement in his career as a writer and publisher. Shaan: Yeah. Its like 50,000 people apply every year and only about 180 I think end up airing. While the company was successful, bringing in about $1 million in sales a year, it was Patels appearance on Shark Tank in 2016 that rocketed the company into the public eye with Mark Cuban as a partner. Andrew: And thats what Prep Expert does. Shaan said that he wanted to open new locations in markets like New York, Los Angeles, San Francisco, Washington DC, Boston, and Philadelphia. Right? Andrew: Okay. And then he kind of stayed silent. Shaan Patel, the founder of 2400 Prep Expert, is a tale of enthusiasm, dedication, hope, and defying obstacles. In what office? . The reason is, is because it creates passive voice, and passive voice is not preferred compared to active voice. After graduating in 2010, he was eager to release his SAT lectures publicly, but publishers turned him down. When the episode begins, Shaan is at home, and he claims to have devised a strategy for acing the SAT. . Andrew: So tell me about the issues you had going from offline to online. The SATs can be challenging, but preparation is key. To give you a great example, you know, digital marketers, they love webinars, they love free automated webinars, and to basically share their knowledge and content. Its probably got more money there for a test preparation course. What I didnt really understand was competition. Shaan said that he would be open to taking a licensing deal with either Princeton Review or Kaplan. They want to provide students a better mentorship and improve their effectiveness of preparation, by which students get focused on their goals and secure satisfactory marks. Real Estate Industry Expert: Net Worth: $500 thousand: Last Updated: April 2023: Brian Buffini was born and brought up in Dublin, Ireland, and later immigrated to San Diego in 1986. He still confronts problems, such as practical techniques for balancing and competition, such as Princeton and Kaplan Reviews. Prep Expert is most known for founder Shaan Patels debut on ABCs Shark Tank, where he received funding from the shark Mark Cuban. 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. . Im no genius. But anyway, my point being is that I wasnt like this genius that automatic aced the SAT, obviously, the most famous standardized exam. And then two, was the demographic. I think my parents built this sort of discipline into me very early on that I was willing to do it and I knew that it would be temporary. Shaan stated that he made about $220,000. Got it. Lori stated that the electronic content is valuable, even though she understood that people wouldnt just sit and do it. And so it was really hard for me to get students to sign up in Los Angeles, whereas . Andrew: Why? Right? Shaan received a 640-point boost, resulting in a perfect score and conducting this business concept. Patel is now a dual MD/MBA student at Yale and USC. The median net worth for the 35-44 group, $91,300, is still more than 16% below the pre-Recession median net worth of $109,430 in 2007. 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: Yes, yes. How did Mark Cuban help you grow? He said the students are now enrolling from all over the world, including China India and London. I think all they could do was really trying to drill in those cultural values, those religious values, try to take us to as many Indian cultural events. Andrew: The thing that I wonder is, how much of it came because you were on the show? Does Patels growth is aided by the presence of a shark? Shaan: Yeah, yeah. Shaan: And so weve actually expanded into ACT and GMAT and other exams as well now whereas on Shark Tank, we were just SAT the 2400 version back then. I mean, Ian is like one of the most impressive teenage entrepreneurs Ive ever met. Its for the average business owner and the average entrepreneur that wants to learn how they can implement this in their business because that was me. Shaan: Yeah. Later, in 3.6 years they can achieve $20 Million in sales. . 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. I read every book that I could. Shaan: So, this was back in my hometown of Las Vegas. Before Shark Tank, your revenue was from what I understand $600,000. Shaan: Yeah, absolutely. Shaan: He invested $250,000 in exchange for 20% equity in my company Prep Expert valuing it at about $1.25 million. Introduced himself to the Sharks, and said that he was seeking $250,000 in exchange for 2400 Expert S.A.T. He stated that you wanted to expand his business Across the Nation, and ask the Sharks which one of them would like to Invest. . Thanks so much, Shaan. Creating a platform or creating some type of authority can go so far for you. Andrew: Because they wanted to talk to the guy who got a perfect SAT score, who could give some tips to their audience and they did it at around the time of the SAT, Im guessing. . And so thats a big tip I have for entrepreneurs who are looking to leverage media and PR exposure. So hes kept that promise and continuing to do things with me. 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