Outlier On Air | Founders, Disruptors, & Mavens
172: Jared Loftus- Prep for Success

"You can't wait for perfect...you have to put something out there, and then get a response." Jared Loftus

About: Jared Loftus- COO of Mastery Prep and CEO of College District

Overview: Jared started his entrepreneurial journey 10 years ago as a college student selling t-shirts from his backpack at football games. He shares more about where that journey has led him and what he does with Mastery Prep- an ACT prep program for schools all over the nation.

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Highlights:

About Mastery Prep: Mastery Prep is an ACT Mastery program that is a support structure for principals and district administrators that helps them provide best-in-class ACT preparation to the students who need it most. They go in and train teachers and students on the most important information they'll need to know to take the ACT and SAT. Mastery Prep also has an online component with work books that students can use to study at their own pace. Currently, they have about 50-60 tutors with the program, but are continuing to grow rapidly and are preparing to launch in other states.

How it Works: Since they're a new company, their sales team will go out to the schools and pitch what Mastery Prep can do for them. Mastery Prep can create a custom program for each of the schools/districts/states. Right now they are in about 6-8 states. Patrick shares that they are much more confident in the success of their program when they can control what's implemented into each workbook/program. They have seen a huge increase in Juniors' test results and are very happy with the direction of their success.

Jared's Role at Mastery Prep: As the COO there, he handles more of the business aspect of the company. He makes sure that they have the structure, employees, and delivery that they need to make sure the company runs smoothly.

Biggest Challenge: For Mastery Prep, the toughest challenge is managing such massive growth. It's growing so rapidly it can be tough to keep on top of building the team and having the right people on board in the right places. They spend a lot of their time working on this problem. Although sales aren't necessarily easy, it's the easiest aspect of their company right now.

About College District: This company was Jared's first real entrepreneurial experience. In college, he was running for student body office and needed to raise funds. He started selling t-shirts out of his backpack at football games and other college events and next thing he knew, it had turned into a little company. Through demand, Jared eventually opened a retail store next to the college campus where he could sell his t-shirts. About 6 years later, Jared sold the actual store location in 2010 and went fully online. College District also uses a crowdsource to let fans tell the company what kind of t-shirts they want.

Revenue for College District: At their peak, College District generated close to 1M, but it varies now according to the football season and success of their local schools in Louisiana.

Advice for Entrepreneurs: You have to know what your motives are- what you are doing and why you are doing it. You can't wait for perfect, you have to put something out there and then get a response. At some point, you have to make it happen. You have to decide you're going to do it, and then just do it.

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Connect With Jared:

Website | @JaredLoftus | LinkedIn | Instagram | AboutMe

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Direct download: Jared_Loftus.mp3
Category:Business -- posted at: 10:28pm MST