
From Motel Room to Shark Tank: Dr. Shaan Patel's Journey to Entrepreneurship
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In this episode of I'll Ask The Questions Around Here, Dr. Joseph Elisha welcomes Dr. Shaan Patel, founder and CEO of Prep Expert and Shark Tank entrepreneur. Shaan shares his inspiring story of overcoming an average SAT score to achieve perfection, launch a successful test-prep business, and become a board-certified dermatologist. The discussion traverses his childhood in a budget motel, his parents' immigrant sacrifices, and the resilience that propelled him through rejection to success with Mark Cuban on Shark Tank. Shaan also explores entrepreneurship, telemedicine, and why standardized tests matter more now than ever.
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[00:00:00] The impact of asking children, "What do you want to do when you grow up?"
[00:01:16] Dr. Elisha's personal story about identity and completing med school
[00:04:03] Shaan Patel's upbringing in a motel and the value his immigrant parents placed on education
[00:05:17] Shaan’s initial struggles with standardized testing and journey to a perfect SAT score
[00:07:28] From book rejections to launching Prep Expert
[00:09:31] Growing Prep Expert during medical school breaks
[00:10:01] Lessons on empathy and education from Shaan’s childhood environment
[00:13:17] Dealing with rejection and embracing the underdog mentality
[00:15:00] Parental influence and leading by example
[00:20:56] Shaan's Shark Tank audition and securing a deal with Mark Cuban
[00:26:57] Insights into working with Mark Cuban
[00:28:56] What Prep Expert offers and the value of test preparation beyond exams
[00:31:29] Entrepreneurship as freedom versus residency constraints
[00:33:35] The risks and uncertainties of entrepreneurship
[00:37:09] The importance of prioritizing helping others over making money
[00:40:18] Are standardized tests valid measures of intelligence?
[00:41:30] How test preparation builds essential life skills
[00:44:31] The most important advice Shaan plans to give his child
[00:46:30] Balancing career, entrepreneurship, and family life
[00:51:18] Advice for healthcare providers considering entrepreneurship