Pavel Melnikov is a Russian businessman and entrepreneur, best known for his contribution to the plumbing industry. He is the sole owner of several companies, with VALTEC being the most famous one around the globe. Melnikov is also the owner of more than 100 patents for a diverse range of plumbing and heating equipment.
But how did he reach the top of the industry? Early in his professional career, Melnikov familiarized with aspects he needs to pay special attention to in order to be able to create something truly significant. He also learned how to find the best way to present and position his products on the market and maintain a high spot in his sector.
So what does it take?
A solid education and knowledge of the industry
Pavel Melnikov entered the industry with a diploma from an Electrotechnical Colledge and Mechanical Institute where he gained significant engineering knowledge.
But it is not just about learning the basic and advanced skills required to complete a range of tasks. Time spent in academia affects a range of practical and interpersonal skills, like writing and reading comprehension, research techniques and how to communicate with a variety of people.
Certainly, all this came in handy for Pavel Melnikov, who combined his creativity and research skills to discover market gaps and come up with innovative solutions. He also had to conduct countless meetings and deliver effective presentations in order to build partnerships and entities that enabled him to turn his ideas into reality.
Focus on innovation and development
This desire to build something from scratch, a never-before-seen solution, is another character quality that helped Pavel Melnikov climb the ladder of success. This is why one of his first endeavours focused on gathering a team who will help him design plumbing products that will help improve the Russian system of that time. Melnikov realized it did not answer the public’s needs to its fullest potential and tried to look for an idea for improvement outside the country’s territory. Namely, he established a partnership with the Italian plumbing manufacturers who were, at that time, renowned for the quality of their work and products.
Key takeaway? Think outside the box. And if you cannot come up with anything on your own, there sure is someone you can ask for advice or a helping hand.
Continual diversification and growth
In the world of business, stagnation equals regression, which means you should always think beyond the goals you’ve already set for yourself.
In Pavel Melnikov’s case, he took his experience in leading successful plumbing companies and broadened his scope of interest to heating devices and water supply appliances, which include aluminium and bimetallic radiators, radiator caps, hot water and water distribution systems, hot water installations, and many more.
Insistence on quality
Product quality is crucial for SMBs who are only looking to make an impact in a dense market place. It helps boost customer loyalty and retention, as it is a clear indicator of how much a business cares about its customers.
And a quality product is precisely what helped Pavel Melnikov build his enterprise. All the products that are manufactured under his trademarks are certified and undergo regular laboratory testing. He knows that meeting, or better yet exceeding customer expectations motivates them to turn back to you again in the future, give you a glowing recommendation, and value the price of the product. One sale at a time, you can get a step closer to improved brand image and higher earnings.
The plumbing industry has always been a competitive one, and it is currently experiencing a rise in the total revenue of the wholesale of plumbing and heating equipment, meaning that reaching and remaining at the top of the sector will be even more challenging.
Despite this growing trend, Pavel Melnikov and his company VALTEC maintain the top position because of his knowledge, experience, ambition and continual focus on development.