I recently had the chance to talk with Pranav Arora. Arora is a phenomenal, 22-year-old serial entrepreneur who recently had the honor of attending Forbes Under 30 Summit in Boston. He contributes a large part of his creativity and management skills to Just Funky LLC, a cutting-edge product licensing company. There, he serves as the Head of Division. Arora is also the CEO of Stunned Mind LLC and a Partner at ILG Property Investors and JMTD Holdings. Check out our conversation below to learn more about his expert tips as well as his amazing journey to success.
- Hello! Please tell us about yourself.
Hi, my name is Pranav Arora. I’m an entrepreneur, businessman, philanthropist, investor and venture capitalist. I lend my creativity, leadership and expertise to a variety of industries, including consumer goods licensing, real estate, franchising, investing and wealth management.
- Awesome! Can you please elaborate and tell us about your companies / positions and what you do on a daily basis?
Sure :). I am the Head of Division at Just Funky LLC. Just Funky provides an array of manufacturing solutions by creating premium, licensed goods. We are family-owned and currently work with top brands like: Walking Dead, Pokémon, Bob Marley, Sons of Anarchy and more! Our company holds over 200 A-list licensed designs. Our products retail in stores like Spencer’s Gifts, Hot Topic, GameStop and thousands of other outlets, including mom and pop shops.
I am also the CEO of Stunned Mind LLC, which also specializes in licensed goods. I’m a partner with ILG Property Investors (a real estate investment company) and the Chairman of the Board of Directors for JMTD Holdings. JMTD Holdings is a boutique private equity firm that encompasses an eclectic business portfolio. With so much on my plate, my duties vary from day to day. However, I mostly manage teams of people to help bring various company visions to fruition.
- When did you first experience being an entrepreneur?
I was entrepreneurial as a kid. I also come from an entrepreneurial family. When I was a teen attending Wooster High School, I started a company called “Highly Educated”. We sold containers with licensed themes. After high school, I attended the University of Akron. I left college early to focus on building my business and later sold the company. It was one of the most rewarding experiences that helped me become the entrepreneur I am today.
- What do you like most about your newest business venture, JMTD Holdings?
I like that I get to solve problems. I authentically enjoy finding solutions to things that puzzle most people. It’s something that I have a knack for. I also like the creative element of the business. JMTD Holdings is a privately held firm based in Ohio. It has ownership in many industries, including intellectual property, patents and trademarks. There’s a lot of creative magic and managing that goes on behind the scenes; I enjoy that.
- What is one of the biggest challenges that you’ve faced? How did / do you overcome that challenge?
I’d say that hiring the right team member for the right job is sometimes a challenge. If you have a vision to execute, it’s essential to have the right people behind you to help bring that vision to life. A positive, can-do attitude can make all the difference in the world. On the opposite end of the spectrum, a negative attitude can total ruin a vision. Over the years, I’ve worked to solve this challenge by eliminating negativity and by creating a more comprehensive vetting process.
- If you had to give out any tips for success, what would they be?
One tip is to always keep trying. Don’t ever quit. Sometimes people doubt you. Sometimes it takes a while to get your business off the ground. Other times, you might try and fail. That doesn’t always mean give up. It could mean try again in a different way. If you keep going, eventually you’ll break through and reach your goals.
Another tip is to be patient and stand behind the quality and integrity of your brand. We provide an honest service to our clients. They appreciate us for that. Even though there are cheaper companies out there, we offer unparalleled quality and honesty. Sometimes this means getting business in the long run. Some clients go with the cheaper companies first and then come to us afterwards asking us to fix the mistakes of the cheaper company. Being genuine is one of the most valuable keys to success. It may mean the success is delayed, but in the end it’s worth it- so stick with it.
The final tip is to not let your experience, or lack thereof, stop you from accomplishing something. Stay focused on your vision and use that focus to guide you. If you do not know something, don’t be afraid to hire a team of people with the necessary experience. Working together with other experts can help you be more efficient and cover more ground.
- You also give back (great)! Please tell us more about that.
Giving back is essential; it makes the world a more sustainable place. It also makes all parties involved feel a since of gratitude. I primarily give back through The Just Funky Foundation. It is a nonprofit organization, where I serve as the Vice President and Chairman of the Board of Directors. We give back to students locally and abroad.
For more information, follow Pranav Arora here: