What does it take to bring out a new product in the valve and actuator industry? Like so many questions the answer is: “It depends.” For a large and established company the process is fairly straightforward, but for a young company, or a startup, things can be tougher. We talked to the heads of two small companies for their takes on what it takes to bring out a new product and keep your company afloat at the same time.

Our experts were Ed Holtgraver, chairman of actuator maker QTRCO, and Ken Chickering, president of Hemiwedge Valve Corp. Both companies have introduced significant new products in the past few years, but there were some differences in what it took to get those products onto the market.