Mark said that he might be interested in acqui-hiring Shaan, but he had a few questions. Theres nothing in my contract like that. WebPatel went on to found 2400 Expert to help other students prepare for college entrance exams. Patel is a perfect SAT scorer he scored 2400 on the test before it changed to the 1600 format. Afterward, Kevin asserts that Shaan isnt qualified to run a side company. Shaan said that he was able to get a full-ride scholarship at the University of Southern California. . Mark and Shaans partnership has extended to a book for young entrepreneurs, too. And the second if youre at a place where you say, You know what? Disclaimer: This article contains remarks made on the Internet by individual people and organizations. 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 All your business is to Mark Cuban for the rest of your life. And nope, thats not true. Super talented guy. Shaan: So hes funny, and I heard he does this a lot, which is he just stays silent after ripping me. Mark Cuban is, obviously, one of the business luminaries in the world, billionaires and I just . . 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. And then two, was the demographic. In his introduction video, Shaan Patel said he was from Las Vegas, Nevada. . Shaans response to Mr. Wonderfuls query regarding costs to acquire new consumers may be inadequate. "acceptedAnswer": { And . Before Shark Tank, I didnt really do any paid marketing. How much extra revenue? ] Andrew: What did you do to get students to come to you in Los Angeles? And so I remember, you know, all of the Sharks were like, You cant play it entrepreneurship. What is Founder Vesting and how does it work? 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. NonGamstopCasinos.net . 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. Andrew: Perfect. Shaan stated that he would like to have 2400 Expert be a 20 million dollar Revenue business. 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. I was going to actually have like an HTML-based thing, and then said, Lets just try WordPress. And I did and it worked. He said that the customer wasnt that high school student, but rather the High School parent. Shaan: Oh, yeah. Andrew: Yeah. I heard you guys had software issues. Its going to sell thousands of copies. Thats measurable. The rest I could understand being really painful. 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. Andrew: And the only thing you werent doing was the SEO for your site, search engine optimization you hired out. This law firm doesnt have a headquarters but has over 2,400 expert attorneys practicing. You have to supercharge it. Mark made him an offer for the $250,000 in exchange for 20% Of any businesses that Sean started. Robert said that he couldnt invest in the part-time entrepreneur, and he went out. Shaan: Yeah. Shaan stated that he made about $220,000. Andrew: By the way, you can always hire full-time developers or part-time developers from Toptal. The company soon became well-known because it helped students raise their SAT scores by an average of 376 points . Who do I think I am that Im going to make it on this show?. 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. 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. . Bubble is saying, Hey, look, maybe we wont be 35% of all development will be done on Bubble, but some percentage does not need to be written especially the earlier parts of a business, and probably even the latter parts too. If you want to, Shaan, create an app, if you, my listener, wants to create an app, if you want to create an experience, you dont have to code it up yourself. . I mean, Ian is like one of the most impressive teenage entrepreneurs Ive ever met. He asserted that by 14 million students have taken the SATs since 2005. If you're a premium member, you can save your likes. Later he also published their book called How Any Kid Can Start A Business by collaborating with Mark Cuban and McCue. Mark said no again. So its been a win-win. Shaan explains to them that they charge $199 per person to teach them online, although their sales figures are as follows. Andrew: The thing that I wonder is, how much of it came because you were on the show? . And the way that I was going to do that is I basically locked myself in the library for an entire summer. Thanks for being here. I was like, Oh, maybe Damon will give me an offer. I was like, I dont want to go on and, like, promote my business. Theyre pushing back on you aggressively telling you your decision to run a company and be in school is horrible. Why is being a wrong answer every time? Web2400 Expert Shark Tank Update Mark Cuban invested in Shaans business because he believes in education, and that decision has made him an even richer man. I heard you were going to get started in Los Angeles, not Las Vegas. Yeah. So you were going to write this book and you had a perfect SAT score. I was getting all kinds of parents calling me because they were . So, I was trying to get a sense of like, What are you doing to get traffic? It looks like one of the things that works for you is bond sites. Yeah. What Is Ryan Seacrests Net Worth? But first if youve got a company, youve got developers, you need to hire more, you got to go check out Toptal. I went in asking for 10% but my strategy was I would go up to 20% and he got me exactly at my maximum. Mark let Shaan know that if he had other children, Mark wanted to be the god parent. -SPONSORED- Difference between Heuristic and Biases and their types? . 2023 Geeksaroundglobe Powered by | All Rights Reserved. In his own words at his website, my perfect SAT score changed my life. And it continued to . Andrew: So what did they do to stop you from seeing what was going on or to stop you from not going . And now you do so many things. Shaan has been featured in the 30 Under 30 list from INC Magazine in 2019. And yeah, he was able to relate a little bit better to Generation Z than me or Mark Cuban. Andrew: A year. "@type": "Question", Mark is curious about your aspirations for the next 10 years. Kevin asks how much it costs to get a student, and most of their customers are referred to them by people they know. So it was pretty low of that to happen, but it happened for me and it totally changed my life. Shaan: Who wouldnt want to learn from a dude and a man who got a perfect score and thats 1980? He has won over a million dollars in scholarships, and even met the President. And obviously, every business ownership should do that. I . Shaan said that he was the face of the company, so a lot of the students want to take a course specifically with him. Right? . . The first, if you need to hire developers go to toptal.com/mixergy. about how they built their business. Prep Expert is most known for founder Shaan Patels debut on ABCs Shark Tank, where he received funding from the shark Mark Cuban. And thats equivalent to taking a student whos in the 50th percentile whos just average to the 90th percentile. 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!! Its like 50,000 people apply every year and only about 180 I think end up airing. And it was pretty cool of Mark to be willing to put his name on the book with us and help us for the chapters. Andrew: Okay. 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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. 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.. I had that same idea. Go to Bubble.is/mixergy to sign up and start using it immediately. Net Worth of Prep Expert. 2400 Prep Expert achieved over $1 million in sales in only three years, with a 40% profit margin. 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. 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. . 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. Youll also get to see different apps that are being built and have been built already on Bubble. Sure, man. But you know what? He wanted to share his secrets to help other students prepare the way he did in high school. 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. . Guys, the voice you just heard is . Im going to tell you about both of those later. Here is the complete analysis! 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. It was like June, July, August, your summer. Andrew: How do they tell you if they did? So I brought in some amazing developers, designers, and marketers with the 250 grand. 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. . So, you know, after I taught my first set of co . She is pursuing her A.A. Thanks, everybody. I mean, content marketing is huge. He stated that Shaan brought up a good point by saying that the parents are buying it, and making sure that it was taken by the students, who might not go in front of the computer every day for prepackaged content. Shaan: I love content marketing. I was a just entrepreneur and business owner that didnt know the first thing about digital marketing. You were still in school at the time. I need to research this a little bit more. And then I started finding out about automated webinars. So parents are the primary customer of test prep classes. He insisted that parents were not interested in the pre-recorded online course because they didnt trust it. And then what happens is I give them a great deal on the courses at the end of the webinar and its resulted in over $1 million in sales by basically taking something from the digital marketing world and applying it to the test preparation world. What was it about you? You can go check out Bubble. And so yeah. Shaan looks shell-shocked. Thats my email. Shaan: Oh, yeah. Okay. Mark informed Shaan that he would be interested in serving as their godparent if he had any other children. And, you know, he ended up actually bringing the initial book deal to me about this entrepreneurship book, and so I had mentioned it to Mark because I was like, Oh, Mark might want to know about it, because he knows Ian as well. How many people were ahead of you on Shark Tank that day when you applied? Andrew: And thats when you started. Im bad at it. So I dont know . , When Hector Salvidar first started Tia Lupita Foods, he just sold hot sauce. 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. Shaan: Yeah. 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. 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 said he received a half a million dollars and scholarships and got to meet the president of the United States. Contact us: [emailprotected]. Kevin stated that he was digging himself into a hole. He called his future success his parents American Dream. 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. Theres nothing like it. Shaan: Yeah, absolutely. But first, Ill tell everyone my second sponsor is a company called Toptal if youre looking to hire developers. So there was a place called Blankspaces, I believe. Back in the 1980s, the motel was acquired by Patels parents after moving from India to Las Vegas so that they would have a place to stay and an additional source of income. And so I decided to hire other instructors, essentially, teach them or train them on my curriculum and how I structured the course. Patel developed test-taking strategies that allowed him to get a perfect score. . "acceptedAnswer": { Shaan: Yeah. Revolights Shark Tank Update 2022, What Happened To Eco Flower After Shark Tank? 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. A lot of sites are. Shawn countered, stating that he would like $300,000 in exchange for 15%. And thats great, but that will stop at some point. Right? And then what happens with him? Net worth is a concept applicable to individuals and businesses as a key measure of how much an entity is worth. All right. Andrew: Did you used to, like, read about Mark Cuban as a kid? Is there a way for me to actually develop my app by myself without any coding experience? Well, you got to find out about Bubble. I definitely stayed away from a lot of that because of the alcoholism and the drug abuse that I saw growing up. What did you have to do to get a perfect score? Shaan: And the big thing about that is, like, I wasnt pitching them on my business. They can reach me directly. 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. . 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. Andrew: So tell me about the issues you had going from offline to online. Shaan: We did it a little bit before but we didnt do it at the scale. WebBased on the stats for Chris Hogan (finance)'s Youtube channel, the total number of video views is around 6.07 Million, which means Chris Hogan (finance) has roughly made $6,071.00~$12,142.00 US dollars on Youtube already! One guy was on PCP and he, like, through a brick through our motel front office window. He said that he was currently getting his medical degree at that University, while also getting his MBA at Yale. Now we use EverWebinar to deliver our automated webinar. Daymond went out. They want to improve students efficiency and improve their preparations by providing them right study materials along with the right mentorship. 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. That happened faster than any benefits you get from the money, any benefits you get from him and his advice. . Thanks so much, Andrew. "@context": "https://schema.org", 2400 (Prep) got featured on Shark Tank America in January 2016. So, you just spent three months going into hibernation and working this hard. Shaan: Thats a good question. Because he took our course early on in his high school career, he was also ready for the PSAT. Eco Flower Shark Tank Update 2022, What Happened To AngelLift After Shark Tank? For my purposes, can they learn in a digital environment, in an online classroom, as well as they can in an in-person classroom? . And so I learned a lot myself as well as with my digital marketing VP, Adam, at Prep Expert, we learned a ton about digital marketing, so whether its search engine optimization, search engine advertising, about automated webinars. 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. Only three years, with a 40 % profit margin all kinds of calling... American Dream this law firm doesnt have a headquarters but has over Expert... Aggressively telling you your decision to run a company called Toptal if youre at a place called Blankspaces, wasnt! 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