«Вміння не інвестувати іноді важливіше за вміння інвестувати»: Ростислав Вовк на Chernivtsi Invest Forum

When a company grows quickly, it has to do more than look for new opportunities. It also needs to understand which ones are worth saying no to.

“I would start with this: in business, knowing when not to invest can sometimes be more important than knowing when to invest. If I cannot explain in simple terms who the customer is, what problem we solve for them, what they are paying for, and why this business will still be relevant five years from now, I am not ready to commit significant resources to it,” says Rostyslav Vovk.

According to Rostyslav, expansion decisions should be based on sound business logic, not short-term hype or the desire to grow for growth’s sake. This is exactly how Kormotech approached its development in Lithuania. The country has become an important base for further expansion across European markets. The new production facility will cost around €60 million and will allow the company to triple its production capacity in Lithuania.

But scaling is not only about investing in production and equipment. The team matters just as much.

“This becomes especially clear during international expansion. Our first site in Lithuania grew into a team of more than 170 Ukrainian and Lithuanian professionals... Because you can buy equipment. You cannot buy a culture of execution,” explains Rostyslav Vovk.

Another principle is not to build financial models around optimistic forecasts alone. A business must be ready for different scenarios and have a sufficient margin of safety, especially in times of high uncertainty.

Another key topic was how to build a family business that can operate and grow independently of generational change. According to Rostyslav Vovk, this requires a clear separation between the roles of the family, the owners, and management. Professional management does not weaken the family.