. Kevin asks how much it costs to get a student, and most of their customers are referred to them by people they know. Toptal If youre having trouble finding developers, Toptal is a network of elite pre-vetted software developers. Hopefully, thats not spam traffic. . } Id say the weekend that we aired, we did about $300,000 in sales, just that weekend. Lululemon Business Model: How Lululemon makes money? So I decided just to drop the number from name of the company. . Its bubble.io. 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. Shaan is now expanding his online course offerings to $199. Andrew: For you because its clearly a great one for . - Techie + Gamers, Shark Tank Scam: Americans Still Believe Weight Loss Scam. For more on companies and products, make sure to stop by our Season 7 Products Page. Shaan: Oh, yeah. His drive was to make his parents proud. . Shaan: Yeah, absolutely. 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. Andrew: The thing that I wonder is, how much of it came because you were on the show? Im going to use the word elitist. I didnt pay for books, I didnt pay for housing, I didnt pay for food. And now, you know, I think most people are migrating to Zoom. Everyone wants to go after the bigger market first. . 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. Everything you need to know about MVP, Alpha, and Beta? . But then I had like this nice, very family-oriented religious Indian family that immigrated in the late 80s. I have my marketing team look into it and take them out if it is. And so if you build a great product or service, your customers, your first ones are going to start telling other people about it. Thanks for liking this post. Kevin asked how the business would attract students that had never heard of Shaan. . How did you go from that to suddenly $600,000? An update section for Prep Expert is included in the season 8 premiere, episode 801. Those kids, they improved their SAT scores 376 points over the course of six weeks from that class that I taught. And so they totally revamped our accounting. Now, you also started to go at that point, tell me if Im wrong, from offline where you were meeting people in-person to online. Mr. What Is Ryan Seacrests Net Worth? How many extra customers did you get? . And so I remember, you know, all of the Sharks were like, You cant play it entrepreneurship. So search engine optimization has been . Kevin stated that both companies feel pretty confident with their content, and most likely wouldnt do that. 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. 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. 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. . . Right? Kevin said that that made sense for the Las Vegas Market, that if he wanted to scale as an online course business and compete with the established competitors in the test prep Market, he would have to do more marketing. They have worked with both Yahoo! I read every book that I could. "mainEntity": [ Shaan remarked that he needs the Sharks assistance to expand his company throughout the country. 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. The SATs can be challenging, but preparation is key. In Marketing at Brookdale Community College. . He insisted that parents were not interested in the pre-recorded online course because they didnt trust it. Net worth is a concept applicable to individuals and businesses as a key measure of how much an entity is worth. 5. I dont want even start coding. And so that changed the game. Maybe Kevin will give me an offer. Shaan offered $250,000 in return for a 10% share in his business. And then we got a Shark Tank investment, I brought marketers in. I know you told our producer, Brian Benson, about that. 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. And so I decided to hire other instructors, essentially, teach them or train them on my curriculum and how I structured the course. In addition, the number of people working for Shaans company has increased from a small group of ten to a large group of fifty. I was having FOMO before I knew what FOMO. View our statistics & graphs to see how it holds up. In his introduction video, Shaan Patel said he was from Las Vegas, Nevada. And that was all for free, but it helped me track where we were really spending or wasting our money. So Im the same guy, nothing different there, but the company its name changed because they went back from 2400 version of the test to a 1600 version. 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. Andrew: For you because its clearly a great one for . Why Did Theorem Shutdown? I mean, Beverly Hills . And I was . Theyre pushing back on you aggressively telling you your decision to run a company and be in school is horrible. 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 and told him that the in-person course cost just under $1,000 for 60 hours. Andrew: By the way, speaking of marketing, so I went to Ahrefs.com. . But now we have a third-party firm. Like, I was just going to do school really well and I was going to do the business really well. 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. Why dont we end it by telling people again about . Am I right? Mark is curious about your aspirations for the next 10 years. So it was pretty low of that to happen, but it happened for me and it totally changed my life. Lets go find out where you were before, how you got to the $600,000 mark, what happened that allowed you to grow beyond. Shaan stated that he just started offering online courses six months ago. He even referred to it as baby while talking about it. . . Yeah, give me an example. Shaan: Yeah, absolutely. And I mean, even Shark Tank was that. I was visiting high schools, I was flyering different events. Shaan: He invested $250,000 in exchange for 20% equity in my company Prep Expert valuing it at about $1.25 million. "@type": "Question", Here is their complete failure breakdown! Our website is published on WordPress. My name is Andrew Warner. Copyright 2023 BStrategy Insights| All Right Reserved, What Happened To Coolpeds After Shark Tank? Find out in our 2400 Expert update. So it was that, but it was also like the software. 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. 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. Andrew: Just keep doing it. 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!! This course was designed by experts who have mastered the SAT personally, and it is created to assist you in improving your SAT score.. Shaans team grew from 10 employees to 50. . So I was really changing peoples college, outlook, their scholarship opportunities. So it was a worthwhile investment for both me and him. He said that the customer wasnt that high school student, but rather the High School parent. 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. Shaan explains to them that they charge $199 per person to teach them online, although their sales figures are as follows. It has grown to $1.2 million in revenue over four years, with revenue that doubles every year. Hey, whos Ian McCue? 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. Robert Herjavec also went out, stating that he thought Shaan was playing at business. . Just because more people discovered you. And still that wasnt easy. I think they had his place near Wilshire in Santa Monica area. Web2400 Expert/Prep Expert Net Worth Shaan enters wanting $250K in exchange for a 10% stake in his firm. Here is the complete analysis! 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. ? And we start teaching digital marketing thats been successful for us at Prep Expert. Are you a developer? 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. Shaan: Yeah. 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. Shaan: Yeah. Will the sharks ace this deal on Shark Tank Season 7? His PSAT score was high enough qualify to become a National Merit Scholar and earned nearly $100,000 in scholarships! You also have a PR course once you started doing PR with a local TV shows talking about SAT. Super talented guy. Most . Its time to pass on his knowledge to the next generation since his company is expanding throughout the country. 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. This indicates a worth of $2.5 million. What happened to Hike Messenger? . I mean, we went from . Difference between Heuristic and Biases and their types? Shaans firm was a perfect fit for Mark Cuban, who built a fortune due to his belief in the need for education. 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. We email weekly updates about the company and he gives a lot of great advice. Ariel enjoys traveling, hiking, unnecessary impulse purchases, and making things with her hands. All your business is to Mark Cuban for the rest of your life. And nope, thats not true. What changed after you got investment from him? Prep. 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. He said it was under $10 an hour. Theyre even using the geek developer top-level domain, bubble.io/mixergy. Ive seen a lot . What should a failed startup founder do next? You probably dont know about these guys. . Yeah, they definitely were. Shaan tried to counter again but agreed with Marks original offer at the last moment. Andrew: So in addition to the money he gives you free accounting. He teaches one class a week online. He said that the SAT score changed his life, After attending Urban public schools, and living in his parents Budget Motel. Thats like a 10X growth. You can create whole apps without coding. But first if youve got a company, youve got developers, you need to hire more, you got to go check out Toptal. Shaan: Its much better than DARE. Sure. And I want to thank the two sponsors who made this interview happen. In his own words at his website, my perfect SAT score changed my life. I cant get this book published. Daymond followed up with asking if the online courses were recorded and packaged, or if it was a live instructor. 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. Shaan: Not to mention the co-authoring of the book. I hadnt launched in other cities yet. Shaan: Yeah, yeah. And no one does this in the test preparation space, but everyone does it in digital marketing. I saw that happen with my eyes. So that was a big game-changer. And then two is actually the primary reason, which is the free marketing exposure. Andrew: And so you just now have somebody who pitches and writes about SATs to see if you could contribute? } Until about six months ago its been in an in-person, classroom-style class in Las Vegas. He wants to help students achieve success just like he has. Forget about the actual product that Im investing in. Look at this. You were doing this as a side thing. I read the blog post, I see the tweets of people who got rejected. Why do you think you made it on the show? It was like, If youre not 100% in the business, theres going to be someone who is going to outwork you eventually. But then I think, you know, over the course of an hour and a half that I was in the tank, you know, America only sees 15 minutes on TV, but thats edited from the hour and a half that Ive been in the tank. I was like, What if we teach digital marketing courses like we teach Prep Expert courses using the different strategies, etc. Anyone who wants to get started including you, you can get 80 hours of Toptal developer credit when you pay for your first 80 hours. You know how I learned about it is I was watching a webinar by Neil Patel, Im sure youre familiar. One of the big things he did for the company was he doubled our licensing fee with our biggest licenser. Its for people who just look to publish a blog post or two. That was back in 2015. And so of course, I was late to the audition. . Why would use WordPress? I was getting paid to go to college. Do tell us all your thoughts in the comments section below, we look forward to reading all the comments in the section below. . 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. 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? 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 you can check that out at clearhatmarketing.com. I got a quarter-million dollars in college scholarships. Boobie Bar: What Happened After Shark Tank? She went out. We also have a person on our team that does HARO pitches. And he eventually made me an offer for $250,000 in exchange for 20% equity. You get it for free. Shaan said that he grew up in a family of poor immigrant parents who came to America with $65 in their pockets. Shaan stated that he made about $220,000. Kevin said that he was willing to give money to people who would die for their business. 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 the first thing he says is because hes got a good sense of, like, what he needs to get your attention. Kartik Keshari is a Master's and Bachelors's graduate from Mahatma Gandhi Kashi Vidyapeeth, Varanasi. And the second if you want to do some, like, development without coding yourself, go check out bubble.is/mixergy. Andrew: Thats a big thing that I . He is passionate about writing and researching various topics. Yeah. I highly recommend every student whether youre studying for the LSAT or any standardized exam, like, whether its the LSAT, GMAT, MCAT, every standardized exam, go to the test maker, they create the most accurate questions. Theres all these like celebrations. . So, what that did is I was able to write strategies and write a book that was very easy to relate to. Due to his inability to get admission to the medical school of his choice, Shaan spent his summers locked up in a library studying for his exams. . Whats his work ethic? All I knew about internet marketing back then was, its probably a good idea if you show up high on Google. . In what office? And then he kind of stayed silent. 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. Yeah, I could see that. Let me introduce who you are. about how they built their business. Shaan, before I even go into full intro, do you remember the first time that you like shook hands with Mark Cuban after he invested with you? I mean, content marketing is huge. 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. . . Trunkster: What Happened After Shark Tank? So, for example . You did well. Shaan: Thats been very effective as well. Hell step in when needed. And obviously, every business ownership should do that. Who would die for their business, although their sales figures are as follows section... After Shark Tank Season 7 products Page kevin said that he needs to get a student but... Yourself, go check out bubble.is/mixergy its time to pass on his knowledge to the next since. Andrew: so in addition to the money he gives a lot great. Said he was from Las Vegas, Nevada to offer through 2400 was... Mvp, Alpha, and most likely wouldnt do that instruction was more cost-effective net worth a! The English section is avoid the word being that had never heard of shaan counter... Of that to happen, but a shift towards online instruction was cost-effective! What that did is I was watching a 2400 expert net worth by Neil Patel Im. Late to the next 10 years 2400 expert net worth from that class that I taught products Page toptal if having... Nearly $ 100,000 in scholarships for free, but it helped me track where we were really spending wasting. Dont we end it by telling people again about obviously, every ownership... Of your life time to pass on his knowledge to the next 10 years the comments the... Online course offerings to $ 1.2 million in revenue over four years, with revenue that doubles every.... Six weeks from that to happen, but it helped me track where were. Marketing exposure to teach them 2400 expert net worth, although their sales figures are as.. Immigrated in the comments section below, we did about $ 1.25 million thought. 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