Now with Generation Z coming up, they are all taking online classes, and so its much more of a common thing for your kid to have an online class than it was back in 2010, 2011. This law firm doesnt have a headquarters but has over 2,400 expert attorneys practicing. Whats his work ethic? Net worth is the amount by which assets exceed liabilities. 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. So anytime I think a business tries to make this transition where your service is delivered offline originally, and then youre trying to reproduce that offline service in an online environment, there are some important considerations, right? 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. However, Mark refuses to accept Shaans response to an offer of $250K for 15%. Its just the best thing you can possibly have from a Shark. Mark asked Shaan where he would like to be in 10 years.He said that Shaan would quickly attire of doing the business, and move on to something else. . . So they have a meeting software, they have like a webinar software. If you go to bubble.io/mixergy, youre going to get to first of all, try it out, and then youre going to get 40% off for three months. Hes definitely like your teacher. 2400 Expert has changed its name to Prep Expert, and Shaan has been on Fox News and CBS. We ended up hiring full-time for our needs, but were going to supplement with some Toptal developers in the future. I know you went very quickly to a couple of million dollars after being off the show, right? You know what? The video ended, and Shaan walked out onto the stage. I was like, I dont want to go on and, like, promote my business. . Andrew: You do. Shaan: Oh, yeah. A whopping 2400, literally the perfect score. Shaan stated that he did not have exact numbers on the client acquisition cost, but all of their clients came from word of mouth, so there were no advertising costs. Among the 14 million students who attempted the SATS exam, Shaan was one of just a few thousand who performed so brilliantly. . Prep Expert expanded its business model to grow with the demanding college market, and the company now has $5 million in annual revenue. Thats what happens at Toptal. . They can reach me directly. I didnt pay for books, I didnt pay for housing, I didnt pay for food. I wanted to hire more people, open in more cities, expand online. Shaan said that the Sharks might be thinking that he was unable to help other students because he was just some genius. Did you feel like maybe everyone else was having a good time and not you? Lori told him that His story was impressive. 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. Robert told Shaan that he thought that 2400 Expert was a great idea, but he was challenged by the fact that Shaan was just playing at it. Okay. What changed after you got investment from him? So Joes total net worth is $61,000: $294,000 (Assets)-$233,000 (Liabilities) = $61,000 (Net Worth) Why You Need to Know Your Net Worth. Net Worth of Prep Expert. Disposition effect: Why it matters in business. He was also accepted into the I read the blog post, I see the tweets of people who got rejected. With the accomplishment of 2400 Prep Expert, he had to educate himself to strike a balance between developing his company and keeping up with the demand.. Here is the complete analysis! According to the video, he has generated $20 million in sales. Shaan: Oh, absolutely. He was inspired by his parents, who came to this country with $75 in their wallets and established a motel upon arrival. And so I was like, person 500 and something in line in New York City. They do really great work. 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? The scholarship is open to seniors with at least a 3.0 GPA. Undaunted, he used the last of his scholarship money just $900 to launch an SAT prep company website called 2400 Expert. Im going to use the word elitist. All right. Andrew: Youre also going beyond college prep right now. Shaan: I dont personally code. - Techie + Gamers, Shark Tank Scam: Americans Still Believe Weight Loss Scam. So basically, I mean, my SAT score, the reason I wanted to write it is like it changed my life. So it was that, but it was also like the software. 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. In addition, to assist students in succeeding on the SATs, he established the 2400 Expert as a result of his own experiences. To inspire the next generation of entrepreneurs, Patel collaborated with Mark Cuban and Ian McCue to write a book titled How Any Kid Can Start a Business. As of this writing, this book is being sold via Barnes & Nobles Create Space. Youll get that 40% off discount for the first three months. Im going to ask him what it was like to shake hands with Mark Cuban for the first time on national television. Elderly Couple Dies After Unknowingly Buying and Eating Pufferfish, New COVID-19 Booster May be Coming But Public Interest Waning. Andrew: And thats what Prep Expert does. How many people were ahead of you on Shark Tank that day when you applied? You also have a PR course once you started doing PR with a local TV shows talking about SAT. In addition to Shaans other eight novels, this is yet another crowning achievement in his career as a writer and publisher. Shaans firm was a perfect fit for Mark Cuban, who built a fortune due to his belief in the need for education. So the weekend afterwards did about half as much as you did . Andrew: So tell me about the issues you had going from offline to online. I was getting paid to go to college. 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. Were they call like 2400 Prep or something at the time when he invested? Web2400 Prep Expert achieved over $1 million in sales in only three years, with a 40% profit margin. It offers both virtual and face-to-face education from renowned SAT prep professors. Its over? And the second if youre at a place where you say, You know what? He said that he was currently getting his medical degree at that University, while also getting his MBA at Yale. Theres nothing in my contract like that. Shaan: . Andrew: Yeah. And so, you know, I went on Shark Tank for two reasons. Take me to just before Shark Tank? He said it was under $10 an hour. I obviously, know a lot about PR and media which I consider part of digital marketing because it helps you get amazing backlinks for SEO through PR and media. Andrew: By the way, speaking of marketing, so I went to Ahrefs.com. Shaan: So I was trying. 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. WebWhat is the Net Worth of 2400 Expert/Prep Expert? Shaan: Yep. That was back in 2015. The company has an average SAT score improvement of 376 points in just six weeks. Lori asked Shaan if he wanted to be a doctor. . So there was a place called Blankspaces, I believe. I had that same idea. Here is the complete analysis! 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. Shaan: Thats a good question. Andrew: Yeah, I see that on here. Daymond wants to know if you would consider doing package contents instead of keeping the business model as live classes. Andrew: So, an hour and a half youre standing there talking to them, trying to persuade them to invest in your company on your terms for the majority of it, theyre skeptical and more. Kartik Keshari is a Master's and Bachelors's graduate from Mahatma Gandhi Kashi Vidyapeeth, Varanasi. Ill have to talk to them and see whats going on there. Once you pick someone you can start work with them the next day. 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. . He is passionate about writing and researching various topics. Id say PR and media by basically pitching the news stations, and then, obviously, just leveraging my contacts that Ive had from when I was in high school in Vegas. And then at the end once everyone goes out, Mark Cuban he turns to them and he says, Is everyone out? And then theyre all like, Yes. And hes like, Perfect. And thats when I knew he kind of had me too to negotiate it because like, you know, hes the only Shark left. And so you finally started to move back to Vegas, started to get customers, and then Im wondering what you did to go beyond that one guy that you got, that one friend. Robert wanted to know what the profit was from the 1.2 million dollars. It was . "text": "

Prep expert (earlier as, 2400 expert.com) is introduced as an educational start-up that aim’s to provide various facilities and improve problems solving efficiency of various students who want to give SAT exams. 

" Shaan: Yeah. What Happened to Hatch Baby After Shark Tank? Ian McCue is an amazing entrepreneur that I met in Vegas, actually. And yeah, he was able to relate a little bit better to Generation Z than me or Mark Cuban. He wanted to share his secrets to help other students prepare the way he did in high school. . The revenue from the program has quadrupled to over $4 million. He refuses to go with Daymond after he finishes his speech on online learning. If you're a premium member, you can save your likes. I saw that happen with my eyes. WebNational Merit Scholarship worth $100,000! I dont want even start coding. Start hiring them almost immediately. And then once we got on the show, we got our platforms right, we got our delivery right, we got our instructors right, and we got our schedules right more than anything. What was going to go in the book considering that what you told me sounds pretty normal, average? So I brought in some amazing developers, designers, and marketers with the 250 grand. What did you do once you came back? . . Thanks, everybody. What are the problem that you had with the software? Teach using video or teach using live sessions? Regarding the initial six-week course, participants were based in Las Vegas. Net worth: $4.5 billion Source: Video games Sweeney founded video game company Epic Games in 1991 in his parents house and released the game ZZT at age 21. In just 6 months after the show, they make $4 Million in sales. Andrew: For you because its clearly a great one for . Andrew: And that was you getting PR, you contacting the local station saying, Heres who I am.. Ive tried it. . His drive was to make his parents proud. But we cant be in every single city. So I was at the New York City audition, 500 people in line, waiting around for nine hours and I was like, This . What kind of position are you hiring for? All your business is to Mark Cuban for the rest of your life. And nope, thats not true. . But it was perfect for an SAT company. Thanks for liking this post. Here is their complete failure breakdown! ", Andrew: And he invested how much in the business and what did he get? Kevin asks how much it costs to get a student, and most of their customers are referred to them by people they know. . Mark said that he might be interested in acqui-hiring Shaan, but he had a few questions. Shaan: Who wouldnt want to learn from a dude and a man who got a perfect score and thats 1980? Shaan: Yeah. Shaans team grew from 10 employees to 50. And what I did is I basically launched a automated webinar that I teach at Prep Expert for parents. And so I decided to hire other instructors, essentially, teach them or train them on my curriculum and how I structured the course. I would literally find every reporters email using RocketReach is a great tool for entrepreneurs out there to find peoples emails and I would pitch them. This was an extremely smart investment for Mark! As any business or entrepreneur, you have expertise or advice that you can give for free either to PR and media or write your blogs or create some type of content thats valuable to others. And while I only had a few students sign up for my course of the fact that I had a perfect SAT score, I was from Vegas in the news station, so almost every single once said yes. Due to his interest in business prospects such as Shaans, Mark is ready to invest $250K for a 20% stake in the company. Andrew: Okay. One of the big things he did for the company was he doubled our licensing fee with our biggest licenser. . Shaan told her that was a great question, and said that he had always wanted to be a doctor. At one point, I think there were 15 people living in the motel all family members and a couple . Ive seen people on drugs do crazy things. Mark informed Shaan that he would be interested in serving as their godparent if he had any other children. Lori stated that the electronic content would be a way to scale the business, even if only a certain percentage stick with it. . Andrew: Did you used to, like, read about Mark Cuban as a kid? And so of course, I was late to the audition. In fact, Im going to let you try it and give you a nice big offer to get going with it. Shaan: The business is called ClearHat Digital Marketing. OfferUp Business Model: How OfferUp makes money? Shaan: Like Diwali and, like, holy . . I tried really hard. Youre going to pay as twice as much. Because he personally negotiated that. And no one does this in the test preparation space, but everyone does it in digital marketing. ", 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. Shaan: Literally myself. And it was like . Its bubble.io. And he eventually made me an offer for $250,000 in exchange for 20% equity. Its a very simple strategy that no one else really teaches . Its like PR media doesnt care about your business. Shaan said that hes always been in school, but hes always been an entrepreneur her as well. To find out more about the other products featured in Season 7 Episode 15, check for our company updates below. Shaan insisted that he was the hardest-working person that he knows other than his father. Shawn countered, stating that he would like $300,000 in exchange for 15%. Were only publishing people who have built-in customer base. They do these series of tests to make sure that only the best of the best people make it through. Our website is published on WordPress. I had a lot of fun chatting today. Shaan stated that he would like to have 2400 Expert be a 20 million dollar Revenue business. So, you just spent three months going into hibernation and working this hard. . And I got a perfect score in SAT. And he was like, stone-cold, not interested. I didnt have the slightest clue on how to start a business or anything about marketing. He was able to actually double the arrangement and how much we were getting on licenses. This indicates a worth of $2.5 million. . Im not sure . . Ive gotten started within a couple of days. Shaan: Yeah. 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. The reason is, is because it creates passive voice, and passive voice is not preferred compared to active voice. . 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. Andrew: Why? So it was a worthwhile investment for both me and him. Why? Im bad at it. Now we use EverWebinar to deliver our automated webinar. You get it for free. I definitely stayed away from a lot of that because of the alcoholism and the drug abuse that I saw growing up. Shaan: I love content marketing. Why dont we end it by telling people again about . See it for yourself. Its, I think 35% of the websites online now are published on WordPress. We knew we had to offer a ton of course schedules to be able to handle the demand that was about to come in. And in 2010, it was way easier to game Google and game the SEO sort of battle than it is now in 2020. Andrew: And the only thing you werent doing was the SEO for your site, search engine optimization you hired out.

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