What does it take to profit from developing an innovative product?
In a business that creates innovation, it is not enough to be able to invent or to possess technology. You must operate across several fronts. Sovelmash has a clear understanding: different stages of a product’s life require specialists with entirely different knowledge bases, mindsets, and psychological profiles.
What are these areas?
1. Invention and design. It calls for an inventive mind, the ability to spot contradictions, and to devise non-obvious solutions.
2. Prototyping. A theorist, however profound, often cannot assemble a working machine without a practitioner’s oversight.
3. Testing. This requires meticulousness, rigor, and adherence to procedure.
4. Analysis of results and preparation for series production. One must be able to discard elegant yet unmanufacturable solutions. Someone who has brilliantly built a one-off prototype often cannot see why it will not suit series production.
5. Establishing series production. This requires knowledge of equipment, manufacturers, and the materials market. You must be able to build supply chains, maintain quality control for each batch, and calculate the cost of downtime and defects.
6. Production itself. It does not reward creativity. What is needed here is strict adherence to the process and discipline. What is valued is not initiative but predictability and cadence.
7. Sales and service. You must be able to translate specifications into customer value, handle objections, build technical support, and provide warranty and operational services, up to and including disposal.
At present, Sovelmash is focused on launching efficient, profitable series production. The previous stages have already been completed and mastered.
However, production is not an end in itself for the company. It is needed to clearly demonstrate to the customer the feasibility of series production of an innovative product, and to serve as an additional source of income.
The main focus remains the development of motors for customers’ specific tasks and turnkey production setup.
If you want to become a co-owner of such a business, explore the offers for investors.
*The translation is done with the help of artificial intelligence.