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.
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.
We can learn three things from Patel about starting a business that earns $150,000 annually in passive income.
His first class took place in the summertime, between school semesters, and included 18 high school students eager to raise their scores.
Patel used that money to hire more employees who could create digital courses and provide real-time tutoring for high school kids who needed help in other subjects.
Persons:
Shaan Patel, Patel, Mark Cuban, —, you'll, weren't, doesn't
Organizations:
SAT, ACT, Service, Ivy League, Prep, Business, Tank, Cuban
Locations:
Las Vegas