Entrepreneur Shaan Patel pictured with Shark Tank investor Mark Cuban. In college, Shaan Patel used $3,000 in extra scholarship money to start a business that now earns $150,000 per year in passive income.
Patel started with what he already knows: how to raise students’ SAT and ACT scores to earn scholarships.
Patel won a $250,000 investment from Mark Cuban on Shark Tank in 2018.
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Doctor and entrepreneur Shaan Patel, 32, graduated from school debt-free.The secret to Patel’s success was studying extra hard to raise his SAT score from average to perfect when he was in high school. Even though he was rejected from every Ivy League school that he applied to with a perfect SAT score, he was still offered $500,000 in scholarships from some of the top schools in the US.Because he was awarded such a large scholarship in undergraduate school, Patel received extra checks from the financial aid office at the end of each semester for living expenses and books. He used $3,000 in extra scholarship money to invest in the earliest stage of his company Prep Expert , a digital SAT and ACT prep course company which is now worth millions of dollars and has helped over 50,000 students earn $100 million worth of college scholarship money in the last ten years.Here are three things we can learn from Patel about starting a business that earns $150,000 annually in passive income. 1. He started with what he already knew After spending hours perfecting his course curriculum, Patel spent $900 for the […]
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