Safe, Secure, and in Control

Interested in starting your own entrepreneurial journey but unsure what to expect? Then read up on our interview with Oscar Hedaya, Owner of SPACE, located in Tinton Falls, NJ, USA.

What's your business, and who are your customers?

We create new and unique products to make your life smarter, safer, and more manageable. Our first product was an intelligent safe that connects to the internet and contains cameras inside and outside the safe to keep you informed of your valuables. If someone attempts to break into your safe, view it from our app.

Our customers are all kinds of people, companies, and industries - basically, anyone that wants to secure and keep something safe or out of other people's hands and be informed if someone tries to access their contents.

Tell us about yourself

From as far back as I can remember, my grandfather was always my biggest supporter. Until the day he passed away last year, he was always complimenting my work ethic and telling me how much he admired the skills I've acquired. He always pushed me to start my own business. He believed in me so much, he was willing to fund any business vision I had.

He's always believed in me, pushing me to become the serial entrepreneur I am today. A few years ago, I was looking for something different and new to create and sell - something other than another iPhone case or phone accessory. I dabbled in many different business ideas, but the safe industry made me most interested.

Although a super small industry and business opportunity, I did see it as something that was static and needed a little jolt of energy and change. Everything in life needs to improve. If it doesn't, it dies - look at hoover, Blackberry, Nokia, xerox, sega, and many other companies.

The excitement of bringing new and incredibly unique products keeps me motivated each day to people who genuinely need them. I want to make a difference in people's lives in a better way, and I want to make the world a more secure place for everyone to feel safe and comfortable. Every difficult week is joined by incredible days that make you want to keep pushing forward and growing.

What's your biggest accomplishment as a business owner?

My biggest accomplishment is that I am an independent person who doesn't rely on anyone in this world. I started my first successful business before turning 27.

I've met and sold millions of dollars of products to some of the biggest retailers in the world. We are who we are from our experiences and accomplishments. For me, I know I have only touched the tip of the iceberg, but so far, my achievements are more than most people I know.

My latest company, SPACE, has already grown an exceptional amount in a short amount of time, and it's still going. With what the company has in mind and with the employees that work for the company, we will be creating some excellent products over the coming months and years.

What's one of the hardest things that come with being a business owner?

The most challenging thing about being a business owner is 100% money. You may have one day where you're making loads of money and another day where you don't make any money. When things get bad, you are the one who suffers. While your employees will always continue to get their salaries because you are responsible for them, you may not bring home any money.

Being a business owner means your name and reputation are always on the line, so you always have to do your best to make everything perfect and right. Another financial challenge is that if you need a loan for your business, you are personally liable for it and no one else. If companies owe you money and they don't pay you, it is you who loses. These difficulties—all of which are financial—are, in my opinion, the most difficult.

What are the top tips you'd give to anyone looking to start, run and grow a business today?

Do your homework. Before jumping into a business, do your due diligence, run a budget on how much you will need to start your business, how much you need to make to break even or be profitable, and then see if it's a viable business or industry. I have not jumped into several businesses but spent months doing homework before throwing in the towel on some companies. The loss of a few weeks far outweighs the loss of a few years and hundreds of thousands of dollars.
Surround yourself with positive people who will give you good advice. While you may not know what you excel in, your best friends will see what you're incredible at and in what areas you suffer. Before starting my last business, most people said don't do it, and I had a few that supported me along the way, believed in me, and helped me "keep going." It's super important to have good energy because when starting and growing a business, so much goes wrong, and it's easy to get discouraged. Having good people and a good point will help you battle through.
If you need a partner, take them on. You may think you're excellent at everything, but you aren't. There isn't one person good at everything. Even the most successful people in the world have a team of people who work with them or for them to build their dreams and create their visions. If you aren't a designer, then don't try designing. Find someone who is excellent and pay them to make something great for you-and spend your time doing something that you are great at. Keep your eye on the prize.

Where can people find you and your business?

Website: https://www.thespacesafe.com/
Facebook: https://www.facebook.com/TheSpaceSafe/
Instagram: https://www.instagram.com/TheSpaceSafe/
LinkedIn: https://www.linkedin.com/company/controlyourspace/

If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.

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