This week, ERA interviews Michael Planit, President of Product Strategies. Read on as he discusses his new book "Operators Are Standing By" and hear his thoughts on ERA's support of product innovation.
If you are interested in being considered for an upcoming e-newsletter interview or know someone who should be interviewed by ERA, please contact Pat Cauley at 703.908.1030.
ERA Interviews... Michael Planit
ERA: What would you say is your daily role as President of Product Strategies?
Planit: On a daily basis, I would say my overall function comes down to being a facilitator – I identify, negotiate and execute all business aspects of various deals, from licensing to sourcing, for both individual inventor and marketing companies. I spend a good part of the day working at those details.
In some cases the marketing company will have me act as “executive producer” for an Infomercial to be produced, which can require the identifying and securing of producers, key talent, and other vendors related to the process of getting the show complete and ready to air/test.
In between the detailed work, I look to identify product, DR trends and the like, and once new product is found I work closely with my clients to determine the proper positioning of the product/product line for both TV and the retail marketplace.
In the end, whether it is global sourcing, a licensing deal for inventor or marketing company or executive producing a show, the bottom line is my day-to-day responsibilities are to "get it done" (execute) at the best possible terms for all involved. All this while maintaining the integrity of the product and maximizing its chance for success in the consumer marketplace – not to mention, keeping all parties satisfied.
ERA: Besides the perks of being a newly-acclaimed author, what led you to write your book "Operators Are Standing By?"
Planit: I found that when I spoke to people and we discussed what I did, they all had one commonality – they had an idea. Not just any idea, but one they thought was great; yet most did not know where to begin.
So "OASB" was born out of filling a void for all inventors and would-be inventors to show the path of creating a product from concept through to the consumer. With details on how to formulate and detail your concept, make a prototype, protect your product, secure manufacturing and then marketing – whether by themselves or through a licensing arrangement – in either case provide them with a step-by-step guide on how it's done – in simple terms explaining the hurdles and pitfalls and how to avoid them.
"OASB" is not just written as a “how-to” guide, it is also written as a motivational and inspirational book to let all inventors know they are not alone, the hurdles they encounter are similar to others, the questions they ask are all the same, and that they can overcome and they can succeed – if not on their first product, then their next – but that success is possible and we all can achieve it!
ERA: ERA and the Invention Showcase task force go to great lengths to protect inventors; this is also a passion of yours as well - can you elaborate?
Planit: A safe haven is what all inventors want and need, A place they can share -openly and ask questions, and present their product in the hopes of commercializing it – without a feeling of someone or some company trying to prey upon them. The Invention Showcase is such a place.
It is those ideals that I follow accordingly – I wrote "OASB" as that “safe-haven” for inventors to turn to before they approach the market – a book which can arm them with the necessary knowledge on developing their product properly, protecting their product, understanding how to evaluate their product for different markets and learn how to prepare themselves for Direct Response --- regardless if they go at it themselves or license to a Direct Response Marketing company.
The bottom line is that inventors need to feel comfortable and they need to be respected for their efforts and extensive sacrifice of both time and money that goes into creating their product and making it a reality – and though the individuals/companies that take advantage of inventors are more the exception than the rule, it is those few that create the fear and thus force inventors to go it alone in the development stage and then overly worry as they attempt to seek out a truly safe place to introduce and present their product.
This loss of faith has created a great need for a reduction to the cost and risk barriers of entry in creating and commercializing a product, and thus increased the need for more low cost information, education and forums for inventors.
ERA: If you could give a new inventor/small business owner one piece of advice about direct response, what would it be?
Planit: Take your time to go to market – the best time of year to introduce your product is…when it's ready.
Direct response is unequivocally the best way to test the true market viability of a consumer product – as long as such a product fits the main criteria for that format (i.e. it fills a void/solves a problem, is highly demonstrable, everyone can use one/mass appeal, it's easy to use and has a high perceived value at a great price).
Other than that, it is not for the faint at heart and can not be entered into without the proper financing and knowledge – for your first product(s) highly consider licensing your product or hire an expert that can help you choose the right producer, telemarketer, media company etc, that is right for your product – every product has different needs, and there is no one producer/telemarketer/media outfit that is right for every product.
ERA: Finally, what were the motivating factors that helped you decide to rejoin ERA?
Planit: ERA simply is the best compilation of industry experts, companies, and overall resources for anyone and any company involved in Direct Response Marketing.
he ERA has provided me with much in the way of education, as well as opportunity to connect and stay connected to those in the business both locally and internationally, and I realized it is far easier to keep abreast of our constantly growing industry by being part of the integral org that helps it grow.
Information provided in the line of questioning and responses in this interview have not been substantiated by ERA,
are strictly the opinions of the company being interviewed, and do not necessarily reflect an official position of the
Electronic Retailing Association or its members. Please note that no portion of ERA's newsletter may be replicated
in part or in its entirety without the written consent of ERA. |
