I had a notebook. And so yeah, I mean Zoom, I think is kind of the front runner now, though, with digital online meetings is my understanding. I wanted to hire more people, open in more cities, expand online. He saw the results, obviously, speak for themselves in terms of the score improvements. I read every book that I could. And now you do so many things. Shaan remarked that he needs the Sharks assistance to expand his company throughout the country. Undaunted, he used the last of his scholarship money just $900 to launch an SAT prep company website called 2400 Expert. Shaan: I was a one-man show. They offer a no-risk trial period. And so thats what the investment was for. Robert wanted to know what their income looks like currently, and Shaan told him that theyd done 1.2 million dollars in sales In the last four years. And a big chunk of that you attribute to Shark Tank. This reputable law firm is situated in Washington DC and has around 2,500 attorneys practicing. . He teaches one class a week online. We were still getting students improving hundreds and hundreds of points. Elderly Couple Dies After Unknowingly Buying and Eating Pufferfish, New COVID-19 Booster May be Coming But Public Interest Waning. Daymond wants to know if you would consider doing package contents instead of keeping the business model as live classes. Shaan: Yeah, it was about $600,000 annually. You have entered an incorrect email address! Lets go find out where you were before, how you got to the $600,000 mark, what happened that allowed you to grow beyond. Yeah, I could see that. We knew we had to offer a ton of course schedules to be able to handle the demand that was about to come in. 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? Ariel enjoys traveling, hiking, unnecessary impulse purchases, and making things with her hands. Find out in our 2400 Expert update. . Creating a platform or creating some type of authority can go so far for you. I dont want even start coding. Please enter your email address to continue, LeadPages founder on why you should be embarrassed by your first launch, How a list nerd grew Ranker.com to 27,000,000 monthly visitors, How a guy used hardcore couponing to build a lifestyle biz, How to grow your audience (with content marketing). And so when you get access to the Mark Cuban companies, everything from the legal team, the business development team, the accounting team . Andrew: And that was you getting PR, you contacting the local station saying, Heres who I am.. 2400 Expert in person cost for the course is $990 for a 60 hour course and online is $590. . I intentionally wanted the audience to feel a little bit of discomfort as they were curious about you, but also to draw them in with, like, this whole Mark Cuban experience. Can people learn in a . But you grew up in Vegas. Were going to [inaudible 00:02:25] this company, what happened that allowed him to, first of all, raise money on Shark Tank, and then what happened after he raised money. Search engine advertising has been amazing. Andrew: The business has grown. Its for people who just look to publish a blog post or two. The scholarship is open to seniors with at least a 3.0 GPA. And since then weve done over $20 million in revenue. But then he starts talking about his own work ethic, he starts talking about how his dad worked so hard and how he had modeled that. In Marketing at Brookdale Community College. . A year before the show they did $600,000 in sales and overall they have had $1.2 Million in sales from the past 4 years. Trunkster: What Happened After Shark Tank? Whats the name of the business? We also have a person on our team that does HARO pitches. Shaan stated that he made about $220,000. And what was amazing was the score improvements were reproducible even without me being the instructor just the curriculum and having a great instructor, another one and another few, it ended up being, teach the same coursework. And it was a pretty crazy upbringing, to say the least, a little bit different than suburban life. In fact, Im going to let you try it and give you a nice big offer to get going with it. And I would go . , { Who are the Competitors of 2400 Expert/Prep Expert? All right. Shaan said that numbers dont lie even when men and women do. Same. . So many differences have changed since then. . None of that worked because, I mean . Youd have to talk to my marketing team. And so we used the webinar one because we want it to basically have one instructor for multiple students where theres 20 students, 50 students, 100 students. In the year before filming, Shaan made $600,000 in revenue. The money will be used to open six new locations. Robert thinks Shaan is only tinkering at the edges of the industry. Yeah. Kevin followed, concerned about Shaans commitment. He started . Yeah, Mark is . And hes a young kid with amazing entrepreneurial skills, a lot of great development skills as well. So, I think Mark Cuban is the best sharp partner with because you get really two aspects, one is you get access to the Mark Cuban companies, and then you get access to Mark Cuban himself. He hopes to inspire others to follow in his footsteps and achieve the same level of success that he has. So like, theres something called couponsplusdeals.com. Its like that. And so thats a big tip I have for entrepreneurs who are looking to leverage media and PR exposure. So they have a meeting software, they have like a webinar software. } And Mark was not only interested to know about it. Shaan: Yep. What was going to go in the book considering that what you told me sounds pretty normal, average? 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? I . Shaan said that 2400 Expert was able to increase students SATs scores by 376 points in six weeks. He got the recipe from his mother and, Kayla Lupean got the idea for Play Maysie Dollhouses on Christmas Day, 2020 when she saw her daughter playing with, By the time Honey Bunchies Bars entrepreneur Kendra Bennett pitches her healthy snack bars in Shark Tank episode 14, Charisse and Vicky Pasche initially created Dapper Boy clothing to express a sense of pride in the LGBTQ lifestyle., BuggyBeds Net Worth 2023 - What Happened After Shark Tank? You were doing this as a side thing. Shaan said that the Sharks might be thinking that he was unable to help other students because he was just some genius. Andrew: There we go. And then two is actually the primary reason, which is the free marketing exposure. Yeah, give me an example. . And I think thats how you should always pitch PR in media. . 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. Hes a lot taller than I expected. Shaan: So I was trying. So I decided just to drop the number from name of the company. Thanks for being here. . Shaan: We do a little bit of everything. So when I was like a sophomore in high school, I got around an average score and that really hit my ego big, it hit my college dreams big. In fact, as soon as you go to bubble.io/mixergy, what youre going to see is all these things that you can understand as coding concepts laid out in a visual editor that makes it way easier to see and to use and interact with and to build with. The net worth of the company is estimated as $4.4 Million currently as it is approximately 4.5 times more as they get into the show at the valuation of $1.25 Million. Shaan: Oh, man, I went to 100 literary agents and publishers and I was like, You know what? I was so excited. You probably dont know about these guys. Shaan: So hes funny, and I heard he does this a lot, which is he just stays silent after ripping me. Everyone is going to tell you to code. . But I dont know. Shaan: Yeah. It looks like the business is growing nicely. Andrew: A year. 2400 (Prep)s founder Shaan Patel has a net worth of 4.4 Million USD as of 2022. And it was like . Its bubble.io. He said that the customer wasnt that high school student, but rather the High School parent. Standing in from of a classroom, Shaan said that hes developed an educational program in order to help students achieve their dreams by getting into college. I dont know how he figured that out, but it ended up working out really well for the both of us. Certainly, Im sure some percentage of students are doing that, but what we do now is with our online classes, we make sure that were polling every 10, 15 minutes and making sure that students are engaged so that they dont just min [inaudible 00:44:44] our classroom environment and go do what they want to, but they actually stay engaged with the classroom. And so you said, You know what? She is pursuing her A.A. Then the dream came true when his desired school, the University of Southern California (USC), accepted him and gave him the scholarship to pay for his whole education. Geeks around globe can not confirm them independently and do not support claims or opinions being completed online. Shaan: Oh, yeah. 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. So why dont I just pivot the business? And that ended up working out really well. And more satisfying, McGraw-Hill, one of the education publishing giants, saw the momentum 2400 Expert was gaining and offered Patel a book deal. Its probably got more money there for a test preparation course. What I didnt really understand was competition. . You cant be a student too. Shaan: Oh. The second thing Id say was, I basically was, like, I dont really have a lot of money to spend on marketing, so Im going to try to get free marketing. Shaan said that he would like to get an investment from the Sharks in order to take the business to the National level. His mom and Mark Cuban were like best buddies back in Dallas way before Mark Cuban became a millionaire or a billionaire. Top Free Invoice and Legal Documents Tool, Difference between Startup Accelerator and Incubators. Shaan: Yeah. Shaan: Its much better than DARE. And so, you know, that kept me Id say away from drugs very early. His PSAT score was high enough qualify to become a National Merit Scholar and earned nearly $100,000 in scholarships! He didnt know I didnt have any students in LA, so I was like, Well, Ive got one student in Vegas and I know from my high school, etc. I get how you started getting your first set of people. We had done about $1 million in total in the few years we were in business before Shark Tank. As a result, the programs income has quadrupled to more than $4 million. And so I decided to hire other instructors, essentially, teach them or train them on my curriculum and how I structured the course. And now it makes sense. Laurie followed it up with asking him if he wants to be a doctor or an entrepreneur. He even called it his baby. And got a scholarship of $230,000 which is a huge amount for an as normal scholarship they have other various school and college achievements before. One guy was on PCP and he, like, through a brick through our motel front office window. To access 2400 Experts line of courses and tutoring sessions, you can sign up at the official website. Guys, the voice you just heard is . Everything you need to know about MVP, Alpha, and Beta? Anyone who wants to try it right now is going to get 40% discount for the first three months. Andrew: And thats when you started. What are you working on? And now, you know, I think most people are migrating to Zoom. He is passionate about writing and researching various topics. Thanks for liking this post. That is unreal. Im just going to move on. You got $900 and then you moved down $900 from where? Though successful, Its not all smooth sailing for Patel. Daymond stated that his entire online operation is teaching live, and Shaan let him know that he would be able to find other teachers to teach the class. . You know what? Bubble is a code-free programming language that lets you build and host web applications without engineers. Among the 14 million students who attempted the SATS exam, Shaan was one of just a few thousand who performed so brilliantly. And so while they all loved the business, that the numbers were good, its profitable, its growing, they all hated that I wasnt 100% entrepreneur. I wasnt a student that either started out super high and I wasnt like a PhD in mathematics and I wasnt a PhD in English like many of these other companies that create strategies have. Andrew: And so waited in line. Shaan: He invested $250,000 in exchange for 20% equity in my company Prep Expert valuing it at about $1.25 million. 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. "@type": "Question", Shaan: All around LA. Kevin was willing to admit that the product was safe. Ill probably check it out myself. Teach using video or teach using live sessions? Ive gotten started within a couple of days. I was like, Oh, maybe Damon will give me an offer. 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. Web2400 Prep Expert achieved over $1 million in sales in only three years, with a 40% profit margin. 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. To access 2400 Experts line of courses and tutoring sessions, you can sign up at the official website. Shaan said that it was exciting because every year theyve doubled their revenue. Shawn countered, stating that he would like $300,000 in exchange for 15%. Result: In the end, Shaan struck a deal with Mark for $250,000 for a 20 percent stake in the company.. Andrew: Okay. I mean, I was pretty down and out of that. Ive seen some pretty crazy things, man. Robert wanted to know what the profit was from the 1.2 million dollars. . I had that same idea. We email weekly updates about the company and he gives a lot of great advice. Andrew: Whats the craziest thing that you saw in the motel? But why dont we take a moment and just go back and get to know who you are and how you built this up because what you had before, it seems like a nice little business. Andrew: Just walking around putting flyers on peoples cars outside of events? You tell Toptal what youre looking for, they search their network for the best people, they test the candidates, and then they present you with only the candidates who meet your individual needs. During an at-home segment, Shaan Patel revealed that his parents came to the US with nothing. Thanks, Shaan. 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. Until about six months ago its been in an in-person, classroom-style class in Las Vegas. The first, if you need to hire developers go to toptal.com/mixergy. 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. . Like, theyll all give me offers. I was so cocky going in. You have to be . Most . . 2400 Expert/Prep Expert Net Worth Competitors There is no competitor identified for Prep Expert. Its over? Approximately 40% of students dropped out of school, and they were underprepared for their SATs.. I mean, youre on there for 15 minutes talking about your business on primetime television to 10 million Americans. Why didnt he do what Ive seen him do for others, which is to say, Look. Shaan Patel, the founder of 2400 Prep Expert, is a tale of enthusiasm, dedication, hope, and defying obstacles. one of the simple strategies that I gave for the English section is avoid the word being. And so what that does for all of my students immediately is they cross out any answer choice with the word being on the English section. I was like, This is going to be the first book thats ever written by a perfect score student. "@context": "https://schema.org", Yeah. . Shaan: Oh, yeah. - Techie + Gamers, Shark Tank Scam: Americans Still Believe Weight Loss Scam. Andrew: So in addition to the money he gives you free accounting. . Whats a good way for them to connect with you? And I was like, Well, what if I just took what Neil Patel is doing, what all these digital marketers are doing? And I was like, No ones ever seen this in the test prep space. And thats obviously a great way to innovate in a lot of industries, is it takes something from one industry and apply it to the next and weve had great success with that. Andrew: By the way, you can always hire full-time developers or part-time developers from Toptal. Here are the reasons for its failure! For the sake of company development, he devoted his time and even completed an MBA online class from Yale to make room for the Mark informed Shaan that he would be interested in serving as their godparent if he had any other children. Thats what happens at Toptal. I got checks. Kevin stated that he was digging himself into a hole. Andrew: But it was interesting. All you have to do is go to top as in top of your head, tal as in talent, toptal.com, thats toptal.com/mixergy. Save my name, email, and website in this browser for the next time I comment. . Everything you need to know about your Pitch Deck? WebIn this post, 2400Expert is going to share the official coupon to help you save $200 right away. 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. Hey . You guys are on there. In episode 1104 of season 11, Shaan receives his second upgrade. }. All you have to do, guys, if youre listening to me, go check out bubble.io/mixergy. And I want to thank the two sponsors who made this interview happen. And it continued to . Shaan: And the big thing about that is, like, I wasnt pitching them on my business. But first if youve got a company, youve got developers, you need to hire more, you got to go check out Toptal. 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. . Bombas Shark Tank Update 2022, What Happened To LifeBelt After Shark Tank? Andrew: Six million annual. What were you planning on doing? Why Did Stayzilla Fail? And they didnt like it. Shaan is looking to sell a 10 percent stake in his company for $250,000. It wasnt going to be something that I was . 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. But we cant be in every single city. Andrew: I get the part about how you dont have a following essentially is what theyre saying. I also want to find out what being on Shark Tank meant for his business and how it has exploded since. For a long time, I used to do all the PR myself. Shaan: You know, what was really cool is our accounting book for that was just working my butt off to try to grow the business and revenue. Again, obviously, if theres any parents . . Get the best of the best right now. And so you did this. And for it to actually happen was just like mind-blowing to me. Theres so much value in doing that. Andrew: Your parents werent worried about their kids growing up around hookers and drug dealers? We had two or three rooms that we would just live out of. When the episode begins, Shaan is at home, and he claims to have devised a strategy for acing the SAT. Andrew: And thats what Prep Expert does. Its just the best thing you can possibly have from a Shark. , When Hector Salvidar first started Tia Lupita Foods, he just sold hot sauce. Im just going to use the material I wrote and Im going to teach SAT prep courses. And I used the 900 bucks to launch the website, which was probably the best investment I ever made. I was like, What if we teach digital marketing courses like we teach Prep Expert courses using the different strategies, etc. = Net Worth. Do code, by the way, Shaan? Prep Expert is currently becoming the widely used SAT and ACT prep resource, especially amongst students and parents. Why Drop Ship Lifestyle? Shaan is now expanding his online course offerings to $199. . Does Patels growth is aided by the presence of a shark? And so I remember, you know, all of the Sharks were like, You cant play it entrepreneurship. The problem with that is that it often crashed and the internets werent as good four or five years ago as they are today and speed for everyone. { 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. You know, a lot of people hear that and actually in the Shark Tank promo ad, they even use the clip where it said, like, I think they add like, I am a genius, but the actual clip was, Im not a genius. 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. So youre big on that looking for people who have . Shaan Patel is the person whose voice youre hearing. Shaan: How did I learn . Shaan said that he was willing to give him an exact answer. 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. When did that happen? Lori stated that the electronic content would be a way to scale the business, even if only a certain percentage stick with it. Youre an ambitious guy. So I have a fun episode because I am what you would call a side hustler or a part-time entrepreneur, meaning I was in school when I was on Shark Tank. We werent doing it well. So my parents they actually owned a little motel in Vegas. So it was a worthwhile investment for both me and him. And then two, was the demographic. I say perfect strategies plus perfect practice means perfect score. . Both Robert and Kevin do not believe that a part-time entrepreneur can sacrifice his life for his business, and they left the proposal. Initially, they found a website called 2400 expert.com and they build a team of 2,400 experts and students that help each other on this site later they changed its name to Prep Expert. Prep Expert has no known competitors. So I had . Here is the complete analysis! . WebPatel went on to found 2400 Expert to help other students prepare for college entrance exams. Yeah, between Shark Tank and the Mark Cuban investment. You decided Im going to write a book. They do these series of tests to make sure that only the best of the best people make it through. Andrew: You do. Shaan: Yeah. He said the students are now enrolling from all over the world, including China India and London. And this is where the whole thing started. So when you went to publishers, they said what? We talked about Toptal, right? Shaan: Yeah, yeah. And the whole time I was thinking like, I cant believe Im going to wait here for nine hours to talk to a producer or pitch a producer for one minute. A lot of sites are. Andrew: So what did they do to stop you from seeing what was going on or to stop you from not going . Your parents did what? ", He is described as a dedicated worker by Shaan. Robert said that he couldnt invest in the part-time entrepreneur, and he went out. . Kevin stated that the business was recession-proof, and one that he is known for years. While attending Yale and USC, Shaan worked to secure a scholarship for USC while still earning his MBA. 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