When I have a lot of ideas and I get in a creative flow, I see to it that I execute them all without any fear. Knowing that I have tried different avenues help me hit that one path which I know has worked the best for me.
1. Tell us more about your company and your journey.
My company is called ‘House Of Psy!! ’. It came into existence in 2015. Since I am from the North East India, fashion has always been a part of my life. Being a Fashion Designer or an entrepreneur was never the idea instilled from the beginning but years later, I found my inclination towards it as art was my way of expression.
2. How did you come up with this idea and go about executing it?
The Idea behind Psy!! was to make luxury bags available at a reasonable rate for all. I spoke with friends back at home and most of them would love the concept of fashion and brands. But high-end luxury brands were not exposed to us in the North East in those days. And that’s when the idea of including my cultural heritage to the brand came into being.
We first started with making wallets which were very reasonable and affordable even for those who were attending college!! And that’s how there onwards our target audience was set. Our focus moved to cater to people of all ages. Our bags are designed for women to carry to work and also for parties and weekend getaways.
3. What has been your biggest challenge that you faced and how did you overcome that?
The biggest challenge for us has been to get the capital to start with. Being a young entrepreneur, I had to convince people to make them believe in my ideology behind the brand. Psy!! comes from a linage which believes in making bags without using animal skin.
Making someone believe that this quality will be achieved without using the traditional route, is still a challenge. We had to discipline ourselves.
Get into the mindset of other leading brands to make Psy!! overcome a lot of its initial hiccups. We didn’t have an idea about marketing our products. So we went back, read, attended online classes, interacted with people to get more knowledge as to how to make Psy!! a household name.
Challenges keep coming up in every business and we are no different. With each day we develop a strategy based on experience to overcome these hurdles.
4. What do you think are the most important qualities of a successful entrepreneur?
Most important quality is that of ‘Persistence’. You need to believe in your product. It’s YOUR BABY and you need to give it your all.
You need to be ‘Resilient’. If you fall, it’s okay. You should learn to bounce back from those difficulties.
Like I mentioned before, ‘Self Discipline’. And this is a long process. You need to stick by your ethics and values regardless of the situation and scenario.
Having a ‘Sense of Direction’ to know where you are leading your brand, what does the future look like.
And lastly, ‘Make a decision and Take Action’. When I have a lot of ideas and I get in a creative flow, I see to it that I execute them all without any fear. Knowing that I have tried different avenues help me hit that one path which I know has worked the best for me.
5. What are some of the most important factors for running a successful business?
6. What are your tips for the first time and aspiring entrepreneurs?
7. How can one overcome a hurdle of lack of funds when starting up?
We started Psy!! by investing our own money which was saved up. Whatever resources we had available were used to make the first set of bags and wallets and the money made from the same was used again to make new products.
We started with an online store to save the money for rent. This was how we tackled the hurdle and continue to do so.
But one can try other avenues like starting a business in partnership. Finding an investor. Consider long term loans.
- Anisha Chanda (Artist & Entrepreneur)
I am Anisha Chanda, an artist and an entrepreneur. I am a self-taught artist and I have completed a diploma in Fashion Designing. Art is a way for me to express myself emotionally. As a child, I would see people in Guwahati always fashionably dressed and I was bitten by the same word when I entered my adolescence too.
Challenges keep coming up in every business and we are no different. With each day we develop a strategy based on experience to overcome these hurdles.
4. What do you think are the most important qualities of a successful entrepreneur?
Most important quality is that of ‘Persistence’. You need to believe in your product. It’s YOUR BABY and you need to give it your all.
You need to be ‘Resilient’. If you fall, it’s okay. You should learn to bounce back from those difficulties.
Like I mentioned before, ‘Self Discipline’. And this is a long process. You need to stick by your ethics and values regardless of the situation and scenario.
Having a ‘Sense of Direction’ to know where you are leading your brand, what does the future look like.
And lastly, ‘Make a decision and Take Action’. When I have a lot of ideas and I get in a creative flow, I see to it that I execute them all without any fear. Knowing that I have tried different avenues help me hit that one path which I know has worked the best for me.
5. What are some of the most important factors for running a successful business?
- Most important is to trust the people working with you.
- Keeping yourself abreast with the market you are involved in. A lot of reading, self-study, training is essential. When you run a business, you never stop learning.
- Keep a record of all the things you have done. This will help with getting clarity on what works best for you and where can changes be made.
- Network with people from and outside your industry. This will help you build resources in the form of ideas, collaborations, venturing into a new market, etc. which will help your business grow.
- Be patient and trust the process. It’s important for you to be realistic about your goal and accept that you need to give it time for your business to grow.
- Be open to taking risks. Trying something new will only help you understand your clientele and your market better.
- And be optimistic. Maintain a positive attitude and see how far you’ve come in your journey.
6. What are your tips for the first time and aspiring entrepreneurs?
- Have a clear vision of what you want and why you want it.
- Plan and make a strategy best suited to venture in your industry/market that is different from what has already been seen.
- Believe in your venture.
- Be ready for challenges in any form.
- Take care of yourself mentally, emotionally and physically.
- Learn from your mistakes and complaints. Don’t fear failure. Because it’s not a failure it’s only an experience.
- Know your clientele. Speak to them. Get their feedback. Negative feedback will only help you improve and positive feedback will boost your confidence further.
- Invest your energy wisely.
7. How can one overcome a hurdle of lack of funds when starting up?
We started Psy!! by investing our own money which was saved up. Whatever resources we had available were used to make the first set of bags and wallets and the money made from the same was used again to make new products.
We started with an online store to save the money for rent. This was how we tackled the hurdle and continue to do so.
But one can try other avenues like starting a business in partnership. Finding an investor. Consider long term loans.
- Anisha Chanda (Artist & Entrepreneur)
The thought of making this as a profession had never crossed my mind. On the contrary, when I came to Bombay I wanted to become a mental health professional. But things took a turn and I realised my calling for designing and that’s how ‘House Of Psy!!’ was born. I want to embrace, explore and encourage the richness and finesse of our culture, values, pride and self-resilience through Psy!! and my artwork.
Facebook: https://www.facebook.com/psy.byanishachanda/
Instagram: https://www.instagram.com/houseofpsy/
Website: https://houseofpsy.com/
Interviewed By Tuhina Rana
Facebook: https://www.facebook.com/psy.byanishachanda/
Instagram: https://www.instagram.com/houseofpsy/
Website: https://houseofpsy.com/
Interviewed By Tuhina Rana
){kind=link}
Social