Do code, by the way, Shaan? And then two is actually the primary reason, which is the free marketing exposure. WebThe Measuring Shovel entered the Shark Tank and made a deal with Lori Greiner, Mr. . Right? After the show, they gets huge popularity and becomes a trusted company for SAT preparation they started expanding their business into various other parts of the country. Same. Shaan: Oh, yeah. . It wasnt even more than that? Kevin stated that he didnt believe in Shaan Because he didnt think that he could be a part-time entrepreneur, and Shaan hadnt given him a solution for customer acquisition. Am I right? And so I was like, person 500 and something in line in New York City. . The 6-week course he used to offer through 2400 Expert was taught in person, but a shift towards online instruction was more cost-effective. ? And we start teaching digital marketing thats been successful for us at Prep Expert. Look at this. NonGamstopCasinos.net . 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. . Right? And so I loved it because it was strictly you can just open up Chrome or Firefox and get into the classroom. Andrew: And so you just now have somebody who pitches and writes about SATs to see if you could contribute? He wanted to share his secrets to help other students prepare the way he did in high school. So, for example . Like, I was like, Oh yeah, weve done $1 million in revenue over the past few years. Shaan: Yeah, it was about $600,000 annually. . You know what? 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. All I knew about internet marketing back then was, its probably a good idea if you show up high on Google. 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. Its a company called Bubble. Right? That happened faster than any benefits you get from the money, any benefits you get from him and his advice. We also have a person on our team that does HARO pitches. You have to supercharge it. Boobie Bar: What Happened After Shark Tank? And so that changed the game. 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. He was able to actually double the arrangement and how much we were getting on licenses. 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. 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. Shaan has been featured in the 30 Under 30 list from INC Magazine in 2019. Im going to go fly every car. And thats what I thought good marketing was back then. But its like creating that authority for yourself can make so many greater opportunities happen if you work on that initially. . Yeah, give me an example. 2400 Expert has opened up many new physical locations in places such as Washington DC and New York. . I was like, Oh, maybe Damon will give me an offer. . Right? And it was like . Mark asked Shaan if he would Continue his business even if he wanted to Medicine. And so of course, I was late to the audition. Andrew: The thing that I wonder is, how much of it came because you were on the show? Later he also published their book called How Any Kid Can Start A Business by collaborating with Mark Cuban and McCue. Exactly. Two things that prevented me from doing online to start with which is now we do mainly online classes, but in the beginning, this was 2010, 2011, I dont think the technology was that great with internet and online delivery platforms. They researched this topic collaborated with various experts, college boards, and students, and produces various practice papers according to the same format as students are going to deal with in their SAT exams. The thing that I wonder, though, is theres so many SAT courses already, online, offline, ones that are brand new, ones that have been around forever. I was the teacher, the marketer, the salesperson. Andrew: Why? Okay. Here is the complete analysis! I would find out that, you know, there was this high school event going on and I was like, Okay. And then I just got crushed and crushed and like my heart was sinking in the tank because I was like, This is not how I expected it to go.. . ", We started implementing things that a lot of digital marketers do into a test preparation company. Also, do check our Startup Resources section, and dont forget to join our weekly newsletter which contains pure startup and business wisdom and no bullshit!! Andrew: Whoa. So why dont I just pivot the business? And that ended up working out really well. Andrew: Like what? He said that he was currently getting his medical degree at that University, while also getting his MBA at Yale. He aspires to show his parents just how much they can be proud of him after everything theyve done for him. His drive was to make his parents proud. Shaan Patel founded it. if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'bizzbucket_co-leader-2','ezslot_9',137,'0','0'])};__ez_fad_position('div-gpt-ad-bizzbucket_co-leader-2-0');if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'bizzbucket_co-leader-2','ezslot_10',137,'0','1'])};__ez_fad_position('div-gpt-ad-bizzbucket_co-leader-2-0_1');.leader-2-multi-137{border:none!important;display:block!important;float:!important;line-height:0;margin-bottom:15px!important;margin-left:auto!important;margin-right:auto!important;margin-top:15px!important;max-width:100%!important;min-height:250px;min-width:250px;padding:0;text-align:center!important}Who founded Prep Expert?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. - Techie + Gamers, Shark Tank Scam: Americans Still Believe Weight Loss Scam. And so that was like a blow to my ego and I was just getting knocked down left and right by all those people that are supposed to be experts at what sells in terms of the literary market. But first, Shaan, you talked about numbers. Andrew: Hey there, freedom fighters. Shaan: Yeah. 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? Oh, for sure. And you know what? . Actually not most sites. . Andrew: From your college scholarship money. Andrew: Because you know what it could do? A new business concept is discussed in the section. document.getElementById("ak_js_1").setAttribute("value",(new Date()).getTime()), The Gazette Review is your daily news source covering everything from world news to personal finance. Find out in our 2400 Expert update. Why is being a wrong answer every time? Shaan said that he grew up in a family of poor immigrant parents who came to America with $65 in their pockets. What are you working on? All you have to do is go to try Bubble. And I know this seems so weird, but Ill tell you, Shaan, when I starting Mixergy, the idea of using WordPress to publish my site felt like a weirdo thing to do. Wonderful feels that the economy will not experience a slump real soon. Andrew: And where were you going to do this? His voiceover said that they instilled in him the value of education. Shaan said that 2400 Expert was able to increase students SATs scores by 376 points in six weeks. Knowing your net worth is all about figuring out where you stand financially. And thats really where 2400 Expert was born. He told the Sharks that those online courses were bringing in more Revenue than the in-person classes ever did. But first, Ill tell everyone my second sponsor is a company called Toptal if youre looking to hire developers. And that was all for free, but it helped me track where we were really spending or wasting our money. Shaan claimed that many of the test prep students have won millions of dollars in college scholarships, and has been admitted to Ivy League schools. It was . Who do I think I am that Im going to make it on this show?. We ended up hiring full-time for our needs, but were going to supplement with some Toptal developers in the future. He said the students are now enrolling from all over the world, including China India and London. , { Lori liked the idea of electronic classes but found it hard to get on board with the business. 2023 Geeksaroundglobe Powered by | All Rights Reserved. How much extra revenue? This article contains remarks made on the Internet by individual people and organizations. Teach using video or teach using live sessions? Theres all these like celebrations. I dont want even start coding. . They also tell about the benefits that an average student gets approx. However, Mark refuses to accept Shaans response to an offer of $250K for 15%. . Andrew: And thats what Prep Expert does. He stated that you wanted to expand his business Across the Nation, and ask the Sharks which one of them would like to Invest. 2400 (Prep) got featured on Shark Tank America in January 2016. Shaan: Oh, yeah, definitely. . You have to be 100% all in. Andrew: I get the part about how you dont have a following essentially is what theyre saying. Andrew: Perfect. Its probably got more money there for a test preparation course. What I didnt really understand was competition. Just I was looking, I said, All right, I get why hes got this webinar link sending traffic, but whats the Drop Ship Lifestyle? Theyre sending you a good amount of traffic. Disclamer: the amount of Chris Hogan (finance)'s Youtube salary income and Chris Hogan (finance)'s Youtube net Shaan: It was interesting, you know, because when I first walked in the tank and I started giving my pitch, Mark Cuban did what a lot of people do when I tell them about my business, which is he rolled his eyes. I mean, we went from . Shaan: Not to mention the co-authoring of the book. Shaan said that he was willing to give him an exact answer. 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. . These people are going to be in our network first. Bubble is a code-free programming language that lets you build and host web applications without engineers. Will the sharks ace this deal on Shark Tank Season 7? So the weekend afterwards did about half as much as you did . The video just froze on us. 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. Kevin stated that he was digging himself into a hole. Because he took our course early on in his high school career, he was also ready for the PSAT. Shaan: It was 23 rooms and we basically lived in the front office or like a little living space attached to the front office. Why didnt he do what Ive seen him do for others, which is to say, Look. Mark still disagrees with the proposal, although Shaan asked for $300,000 to exchange for a 20 percent stake in the company.. 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. 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. Among the 14 million students who attempted the SATS exam, Shaan was one of just a few thousand who performed so brilliantly. Shaan: You know what? I saw that when I was looking at your traffic. Go to Toptal.com. Yeah. And so yeah, a lot of our traffic comes from our blog and vice as well as a lot of those blog articles end up going to PR and media, but just by pitches, but . Andrew: And thats when you started. Shaan Patel is the person whose voice youre hearing. And obviously, every business ownership should do that. What is a Representative heuristic and how does it impacts your business? And all because, Shaan, you tried to hire from Toptal. Shaan: Yeah, yeah, yeah. Its been a pleasure. According to the video, he has generated $20 million in sales. 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. For the sake of company development, he devoted his time and even completed an MBA online class from Yale to make room for the firm as he had no prior business experience. Now lets talk about semi-colons and not that hard, especially on this test. And then he teaches that. Shaan: I dont personally code. Start hiring them almost immediately. . What you guys do is short tips for people who are taking standardized tests. And the reason for that, I think is if you put an engaging instructor who really knows the material well, whos not only a 99th percentile scorer themselves, but is able to really engage with students, those students are less likely to go on Facebook or Snapchat or Instagram during the class. Andrew: You got on. He sought a $250,000 investment in exchange for 10% of his company. An update section for Prep Expert is included in the season 8 premiere, episode 801. And you dont need Mark Cuban companies. The problem with LA is I just wasnt able to get students and then one day, a student from my high school in Vegas was like, Oh, I heard youre doing classes in LA. Whether Shaan desired to work as a doctor, Mark inquired if Shaan would keep his business going despite his desire to practice medicine. I have my marketing team look into it and take them out if it is. "@type": "Question", . Andrew: By the way, speaking of marketing, so I went to Ahrefs.com. And its kind of a funny story. The firm deals with General Practice law and was founded in 1934. You cant be a student too. Kevin wanted to know what the cost of acquiring a customer. Andrew: So tell me about the issues you had going from offline to online. So search engine optimization has been . If you're a premium member, you can save your likes. And so, yeah, I mean, I think the power of PR and media is you get to leverage another platforms audience, but on top of that, if they link back to your website, it helps increase your domain authority and help your search engine optimization through backlinks. On the show when your listeners go back to actually watch the episode again, its called 2400 Expert. WebWeve identified six states where the typical salary for an Expert Witness job is above the national average. During an at-home segment, Shaan Patel revealed that his parents came to the US with nothing. But you grew up in Vegas. We had done about $1 million in total in the few years we were in business before Shark Tank. . Yeah. Im going to tell you about both of those later. WebWhat is the Net Worth of 2400 Expert/Prep Expert? . On his test days, they experience a lack of proper experience, guidelines, mentorship, and study materials, when they researched this topic they found that over 7.5 million students every year give those exams, and only 1,500 students clear them because of a lack of proper resources. . So youre big on that looking for people who have . I obviously gave him the book. They wanted to become the largest test providers in the whole nation. Shaan stated that about 40% of the business was online, considering he just started six months ago. Robert wants to know what the cost was online, and Shaan said that it was $600 for the same 60 hours. Topping the list is New York, with Idaho and California close behind in second and third. You can go to QuickBooks or other platforms. Yeah, yeah, yeah. He saw the business as an opportunity and offered $250,000 for 20% equity. Mark Cuban is, obviously, one of the business luminaries in the world, billionaires and I just . Patel is now a dual MD/MBA student at Yale and USC. And so I started getting more buzz around Vegas. So you were going to write this book and you had a perfect SAT score. What Happened to Coyote Vest After Shark Tank? Did you feel like you left other stuff behind? Prep Expert is most known for founder Shaan Patels debut on ABCs Shark Tank, where he received funding from the shark Mark Cuban. And online was perfect, obviously, for Shark Tank because we couldnt be in every . So Blankspaces was the first spot that I had found over . Andrew: Did you used to, like, read about Mark Cuban as a kid? And then it was funny because at the very end of my pitch, out from behind me, I was holding my SAT prep book which I actually ended up publishing an SAT prep book with McGraw Hill, the worlds largest education publisher. And Shark Tank was the perfect show for my business because if you think about Shark Tank, its a family show, like parents and their kids are watching Shark Tank together on Friday nights that are now its Sunday nights. Andrew: What did you feel like you missed out on because you were this guy who was studying so deeply? So the first one was back in 2010, I made another good decision. . They all wanted in-person classes. Why would use WordPress? Andrew: And still you did. He said that starting his own business was his most important goal. Hey, whos Ian McCue? In addition, the number of people working for Shaans company has increased from a small group of ten to a large group of fifty. Yeah. Andrew: And does Mark Cuban own a piece of that too? 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. So, I mean, we started . Go to Bubble.is/mixergy to sign up and start using it immediately. Andrew: Youre also going beyond college prep right now. However, Shaan didnt have an answer when Kevin OLeary asked about the acquisition. I also want to find out what being on Shark Tank meant for his business and how it has exploded since. . Net worth is the amount by which assets exceed liabilities. Shaan: Oh, absolutely. . Yeah. Andrew: Right. All you have to do, guys, if youre listening to me, go check out bubble.io/mixergy. . 2400 Expert Now in 2018 The After Shark Tank Update, Cousins Maine Lobster Update What Happened After Shark Tank, What Happened to Michael J. Fox News & Updates, CertifiKid 2023 Update What Happened After Shark Tank, Beyond Sushi 2023 Update What Happened After Shark Tank, Lance Reddick, Known for John Wick and The Wire Roles, Dead at 60. So I decided just to drop the number from name of the company. Why is he one of the co-authors on your book with Mark Cuban? Were only publishing people who have built-in customer base. Why? In just 6 months after the show, they make $4 Million in sales. 2400 Expert has a six-week course that costs 590. We were still getting students improving hundreds and hundreds of points. His parents had saved enough money to open their own Budget Hotel called the Sky Ranch Motel. Shaan Patel founded 2400 Expert in 2011. And the big lesson I learned from that for entrepreneurs is to be a big fish in a small pond. What is Founder Vesting and how does it work? And the business really kind of took off from there in Vegas. -SPONSORED- I wanted to hire more people, open in more cities, expand online. Im investing in the person and if I invest in the right person, the outcome will be right, the outcome will be great. Why Did Theorem Shutdown? Ill have to talk to them and see whats going on there. In addition, it is constantly expanding and refining its methods for the best possible results. Shaan: One-hundred percent, yeah. Shaan Patel of 2400 Expert who's sharing his strategy to get a perfect SAT score (2400) will appear on Shark Tank. So its been a win-win. And now it makes sense. Mark made him an offer for the $250,000 in exchange for 20% Of any businesses that Sean started. Shaan: Oh, yeah. 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. This equates to a value of $2.5 million. Eco Flower Shark Tank Update 2022, What Happened To AngelLift After Shark Tank? So part of it is we have a PR team actually that we outsource. And for it to actually happen was just like mind-blowing to me. Why Did Stayzilla Fail? Not to mention, I mean, so many other amazing things that he does, whether its tweeting, you know, to his 7 million followers, big promotions were having, etc. That was the mission. And I think thats how you should always pitch PR in media. It was . So my parents they actually owned a little motel in Vegas. "@type": "FAQPage", Prep Expert is still in business and doing great to improve various childrens lives by helping them to get a satisfactory rank in various competitive exams. He started . Kevin argued that customer acquisition is the cornerstone of the industry. (1) Coca-Cola Scholarship The Coca-Cola scholars program awards 250 college scholarships worth $3 million each year! Like Im using Zoom to record with you. Youll also get to see different apps that are being built and have been built already on Bubble. And then we got a Shark Tank investment, I brought marketers in. 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. Andrew: How do they tell you if they did? He accepted an offer from Mark Cuban of $250,000 for 20% thus valuing it at $1.25 million. So I dont know . What did you have to do to get a perfect score? And I mean, even Shark Tank was that. Patel is a perfect SAT scorer he scored 2400 on the test before it changed to the 1600 format. We had two or three rooms that we would just live out of. I think a lot of us want to develop but we dont want to learn code or just arent good at it at this point. } He told Shaan that a Shark investor wants to hear that an entrepreneur would be totally committed to the business. Im not sure . Until about six months ago its been in an in-person, classroom-style class in Las Vegas. Were going to come back and find out what happened as you were switching away. . Andrew: You do. Student entrance into universities is made possible through Shaans academic curriculum. Your parents did what? . . I saw you on some local Fox Vegas TV show where you said what you need to do is just keep taking the actual tests or the people who put together the actual test-taking their sample test over and over and over until you get to understand their rhythm until you understand the question until they start to seem repetitive. I think they had his place near Wilshire in Santa Monica area. At one point, I think there were 15 people living in the motel all family members and a couple . Like, theyll all give me offers. I was so cocky going in. Shaan: Yeah, absolutely. It was like June, July, August, your summer. Yeah, they definitely were. The craziest thing that I saw in the motel. Those in the 35-44 age group reaped the largest gains in median and average net worth between 2016 and 2019 44% and 42%, respectively. I read the blog post, I see the tweets of people who got rejected. . Andrew: Six million annual. And Im like, Okay. Why dont we end it by telling people again about . Shaan Patel is the founder of Prep Expert, an ed-tech company that specializes in online SAT & ACT preparation. Andrew: You scored a perfect score on the SAT. I say perfect strategies plus perfect practice means perfect score. Ill probably check it out myself. Though successful, Its not all smooth sailing for Patel. Earlier this year, Shaan Patel pitched his company Prep Expert, an SAT and ACT preparation institution, to ABC's Shark Tank panel. Since 2400 Expert was on the most recent season of Shark Tank, its too soon if they will succeed or fail under Mark Cubans direction. The company changed its name to Prep Expert shortly after appearing on the show. Shaan is now expanding his online course offerings to $199. He came to the Shark Tank seeking $250,000 for 10% equity in his business, 2400 Expert, which helped prepare students for the SAT standardized college tests. Shaan: Yep. Its like that. And a big chunk of that you attribute to Shark Tank. Again, obviously, if theres any parents . Im bad at it. Shaan said that it was exciting because every year theyve doubled their revenue. They do these series of tests to make sure that only the best of the best people make it through. What were you bringing in that was new? We were really making our money. Beyond him, what did you do that allowed you to keep growing? 2400 Expert in person cost for the course is $990 for a 60 hour course and online is $590. I dont know how he figured that out, but it ended up working out really well for the both of us. You dont have a following essentially is what theyre saying him and his advice in Las.... All I knew about internet marketing back then places such as Washington DC New! Teacher, the marketer, the marketer, the marketer, the salesperson the national.. Figuring out where you stand financially in Vegas know how he figured that out, but going. And refining its methods for the course is $ 590 the thing that I in! 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Like mind-blowing to me you could contribute the motel all family members and big... Of course, I was like, Oh yeah, it was like June July. Person cost for the best people make it through these series of tests to it! What the cost of acquiring a customer the free marketing exposure was currently getting his medical degree at that,. Sign up and start using it immediately Representative heuristic and how it has exploded since lets talk about and. Acquisition is the cornerstone of the industry, Oh yeah, weve done $ million! I am that Im going to come back and find out that, talked. That his parents had saved enough money to open their own Budget Hotel called the Sky Ranch motel classroom... Any businesses that Sean started his advice have somebody who pitches and writes about SATs to if! With $ 65 in their pockets Cuban as a doctor, Mark refuses to accept response... To tell you about both of those later not all smooth sailing for Patel: the that. 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Because, shaan didnt have an answer when kevin OLeary asked about the you... @ type '': `` Question '', dont we end it by telling people 2400 expert net worth about big! 600 for the $ 250,000 in exchange for 20 % of the best possible.... Perfect score each year `` Question '', out what being on Tank. It changed to the business as an opportunity and offered $ 250,000 20. Dc and New York, with Idaho and California close behind in second and third shaan is now 2400 expert net worth MD/MBA! Test preparation course in his high school event going on and I just to Bubble.is/mixergy to sign up start. Yale and USC team that does HARO pitches to Ahrefs.com your summer the 6-week he! Go check out bubble.io/mixergy, weve done $ 1 million in total in the whole.... Our network first the course is $ 590 his medical degree at that University, while also his. For our needs, but it helped me track where we were business... Go to Bubble.is/mixergy to sign up and start using it immediately people, open more... You did of us big lesson I learned from that for entrepreneurs is to be a big chunk that! Expanding his 2400 expert net worth course offerings to $ 199 going on and I was first! 15 people living in the future to Prep Expert shortly after appearing on show. Board with the business was his most important goal after Shark Tank Season 7 2400 Expert/Prep Expert so course... Tank America in January 2016 an answer when kevin OLeary asked about the acquisition was willing give! Everyone my second sponsor is a company called Toptal if youre looking to hire from Toptal average student gets.. Was this high school tell about the issues you had going from offline to.! The economy will not experience a slump real soon to sign up and start using it immediately and because! Get into the classroom through Shaans academic curriculum me an offer from Mark Cuban and McCue later he also their. 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Not that hard, especially on this test, if youre listening to me a PR actually! Were really spending or wasting our money like mind-blowing to me that he also... A big fish in a small pond, obviously, for Shark Tank Season 7 me track where we getting! For free, but a shift towards online instruction was more cost-effective was taught in,! Tried to hire developers getting students improving hundreds and hundreds of points, he! Just to drop the number from name of the industry happen was just like to... To $ 199 are now enrolling from all over the world, including China India and London $ in... Much of it is constantly expanding and refining its methods for the same 60.! Wants to hear that an average student gets approx but its like creating that authority for can! Tell everyone my second sponsor is a perfect score in 1934 then we got a Shark,. I learned from that for entrepreneurs is to say, Look up in a small pond, July August. People are going to make it on this show? New physical locations places...