Episode Description:

Dr. Shaan Patel, the CEO of Prep Expert, shares his journey of starting a test prep company while in medical school and the impact of appearing on Shark Tank. He discusses the challenges of balancing his medical career and running a business, as well as the need for capital in the test prep industry. Dr. Patel emphasizes the importance of marketing and word of mouth referrals in scaling a test prep business. He also addresses the differentiation between free test prep providers and the value offered by companies like Prep Expert. Additionally, he discusses the impact of test optional policies and the transition to digital SAT. In this conversation, Dr. Shaan Patel discusses the importance of choosing a university based on scholarships and grants to reduce student debt. He also talks about his mission to help students win scholarships and reduce the cost of college. Dr. Patel mentions that while his focus is primarily on the United States, he is open to international partnerships. He shares his thoughts on the role of AI in test prep and emphasizes the value of human touch in tutoring. The conversation concludes with a discussion on the transition to digital testing and the future of standardized tests going digital.