GMAT Strategy

Hello guys,

I was preparing for GMAT for the past 2-3 month (almost everyday for 2-3 hours) and completed the Kaplan Premier 2013 and OG 2013. I also used the Master GMAT trial with all the practice sets and some other free resources i found on the internet.
Today i took my first official GMAT and the result just killed me, its 500 (37Q, 21V). Will get IR and AWA result in 3 weeks only.
Although i feel discouraged now i'm planning to start the preparation again to take 2nd GMAT in December. As i really want to get in to my dream business school the GMAT score im aiming for is 700+

I would like to ask experts, how can i improve my score? What other study materials should i cover?
Is it better to attend GMAT prep courses or find a private tutor?

Im really lost now and will appreciate any help.
Thanks

My honest opinion is the best way to learn is along with a private tutor. You still have to do a lot of the learning on your own, but you will get your questions answered as they come up, keeping your frustration lower.