eDOORWAYS’ anticipated service offering stands unique when compared to other social networks that rely solely on huge traffic and the sale of advertising space to generate revenue. eDOORWAYS will serve as both a social network as well as a “town square” eCommerce business platform to provide a unique mix of service offerings and revenue streams. Here are several of the first anticipated sources of revenue:
Preferential placement fees - Consumers will come to eDOORWAYS with a problem or need, like getting a faulty hot water heater repaired. Businesses will pay eDOORWAYS for the right to reserve key words specific to their location, types of service(s) they offer, product models, etc. Example: You repair hot water heaters, so you pay a fee to eDOORWAYS for the following words: Rheem, Model 2950, service, repair, area code 78701, Austin. This entitles you to be the first in line to extend a real-time “handshake” to a consumer in the 78701 area code in Austin with the same type of problem or need. eDOORWAYS has delivered you a “gold nugget” prospect who is ready to purchase your service on the spot; you are therefore willing to pay a premium for this privilege. For an average small business, the total fee could run from $50 to $200 a month on average based on how many key words the business may want to reserve. This is somewhat like the Google revenue model where advertisers pay for preferred placement of their company or product, but this is much more valuable because the consumer has demonstrated an immediate need to act (i.e., a pre-qualified buyer) and is being connected on a real-time basis directly to the solution – a specific business who can meet the consumer’s need.
Prepaid services/subscriptions – Businesses with eDOORWAYS storefronts will pay eDOORWAYS to subscribe to value-added services such as targeted marketing capabilities, text message alerts, real-time business activity reports by geographical location, back office accounting support, CRM support, and so on. This will empower small businesses by giving them the same “reach” and horsepower as much larger companies with sophisticated marketing, customer relationship management, and accounting capabilities.
Advertising revenue – Businesses will pay eDOORWAYS for advertising space based on a cost per thousand views (CPM). This is the “standard” revenue stream for existing social networks such as Facebook and MySpace.
Private label lease of the service - Large corporations, trade groups, professional associations, and others will pay eDOORWAYS for a “custom” version of the service that is tailored to their own customer service website. The service will carry their brand with the eDOORWAYS brand shown discretely on the screen as well (such as “Powered by Intel”). For example, Sony Corporation leases eDOORWAYS’ service for its consumers. You buy a radio that breaks 3 months later. You go on Sony’s website and you’re directed to their customer service component that features eDOORWAYS technology. You type in your problem and immediately, 4 stores in the vicinity pop up on the left side of the screen, each asking if they can assist you with your problem. Meanwhile, Sony’s corporate representative pops up at the top of the screen, watching what’s going on to make sure the ball does not get dropped by their local representatives. On the right side of the screen, both local and global “experts” stand ready to lend you a hand as they watch what Sony’s doing. They share their experience and opinions about the best strategy for you to get your problem solved. The experts may be existing customers of Sony, other Sony sources who know about the radio you’ve bought, the Sony distributor, etc. Each expert will be rated by eDOORWAYS consumers regarding their credibility and professionalism. Sony and others may lease the system from eDOORWAYS and we will operate it for them.
Just-in-time training and education revenues - eDOORWAYS will offer consumers the ability to learn unique skills and knowledge offered by businesses and other entities via distance learning technology. eDOORWAYS Corporation has one of the most sophisticated training delivery capabilities ever developed – it’s called Smart One. Businesses will pay the Company to use Smart One to deliver their product and service training. As an example, you need to put a new roof on your house because you live in Houston, where hurricane Ike recently paid a visit. Home Depot wants to sell you the materials and is willing to teach you how to put the new roof on using eDOORWAYS’ Smart One technology as a distance learning delivery mechanism. Home Depot will pay the Company for the use of the technology and delivery of the course to you at your home.
Transaction fees (the eCommerce platform) - Ultimately, when eDOORWAYS has sufficient traffic on the site, the Company will begin charging a percentage of each transaction consummated. So, using the previous example, if you buy a new hot water heater from a store, and the store got your business through eDOORWAYS, the store will pay eDOORWAYS 1% or 2% of the gross transaction.
The eDOORWAYS revenue plan calls for these to be our initial sources of revenue. There are numerous others (including revenues from our verticals) that can be described as we continue. As you can see, these are real ways to make money linked to real commerce, generated by putting buyers and sellers together to meet both of their needs in a unique new way. At it’s core, the eDOORWAYS business model enables the purest form of capitalism – putting together someone who wants to buy with someone who has a service to sell.
eDOORWAYS Corporation is conservatively projecting net income of <$1.63M>, <$540K>, and <$289K> in the first three quarters of 2009 with net income of $432K in the fourth quarter of the year followed by net income of $1.21M in the first quarter of 2010.
Profit is projected to be $477K, $995K, $1.37M, and $1.88M in the four quarters of 2009 followed by profit of $2.54M in the first quarter of 2010.
Expenses are projected as $1.95M, $1.55M, $1.41M, and $1.37M for the four quarters of 2009 followed by $1.33M in the first quarter of 2010.
These numbers do not include anticipated revenues from possible vertical markets that management is investigating such as entertainment and education. They are forward looking projections made by management that may vary considerably based on market and business conditions at the time of launch of the eDOORWAYS service offering.
October 9, 2008 at 4:38 pm |
Few questions. Without an official P.R. stating so, are we to assume that you have been in talks with major corporations negotiating their use of the nexgen or SmartOne technology? No specific names are needed. Also, it seems safe to assume that the launch will take place in early first quarter 2009. Is this safe to assume as well?
October 9, 2008 at 6:45 pm |
The Company has not engaged in direct talks with major corporations. However, the key consultants management works closely with have Fortune 500 clients that they have “pitched” eDOORWAYS to. A number of their existing clients have expressed a strong interest in eDOORWAYS to fill a gap in their CRM (and other) capabilities. The Company’s consultants have indicated that these companies remain interested and they are waiting to hear from eDOORWAYS.
The early first quarter launch remains the target. As you might imagine, there are many variables involved that play a role in the timing. While the current market is a little less than favorable, it’s management’s goal to be ready to launch asap. When a launch capability is achieved, a decision will be made regarding timing of eDOORWAYS’ entry in the marketplace.
October 9, 2008 at 7:56 pm |
Certainly Marty has some clout out there considering his previous employment with Office Depot. I jsut really can not imagine eD having any problems getting big corps on board. Thanks for the reply…
October 10, 2008 at 2:53 pm |
I may be wrong but the projections seems to me to be very modest taking into account the revolution this site is aimed to make?
October 10, 2008 at 10:05 pm |
Creating financial proformas for a new business model with new forms of revenue can be a challenge. eDOORWAYS’ management prefers to issue conservative projections. However, we agree with you that the contemplated service offering has great potential.
October 17, 2008 at 12:34 am |
Ok so Use Cases/Wire Frames from end of 2007 were released…now, whats the company at? How’s it looking? End of 2008 is coming soon. Its been almost a year since the date on those use cases was inscribed? Please let us know what is going on with the company and when the heck we can expect some product.
October 17, 2008 at 9:43 pm |
Here is one perspective. To date, the first phase of the eDOORWAYS user interface (a 133 page website) has been developed and is at the testing phase. As this progresses, the “back office” software will be systematically installed to facilitate transaction processing, etc. Testing has been appropriately scheduled to meet the objective of launching during the first quarter of 2009.
The eDOORWAYS launch is priority one; management has continually made time adjustments in an effort to ensure a powerful market entrance. With that, eDOORWAYS has spent considerable time establishing relationships with capable consultants in key areas that can provide revenue from potential vertical markets. This led to consultative agreements with David Heavener and Marty Lobkowicz, to name a couple. Drawing upon their experience, it became clear that there is an opportunity in the entertainment vertical market that conceivably could provide a significant flow of traffic to the website in a relatively short period of time. Management has been working with David in the last 90 days to create an initial design for a vertical service offering called The Virtual Studio. More on this is forthcoming; but this just an idea of the positive developments.
Management has also spent time investigating a near-term re-launch of the Company’s original Smart One learning technology. Discussions have been held with the Atlanta-based scientist who helped create the award-winning technology, Dr. John R. Crosscope. Management is considering the possibility of reinstituting the technology to be used in teaching entertainment professionals, as a way to teach consumers on the eDOORWAYS website, and as a freestanding educational service offering.
Now, while all of the aforementioned is well and good, the long & short of it is, why haven”t we launched yet?? Unfortunately, it became clear in recent times that the market is not conducive right now for an effective launch. With the obvious economic crisis and a vital presidential race at hand, much of the social attention has been set on political agendas, personal finance and overall survival. Management believes that the Q1 objective offers a better opportunity for success. Also, a great deal of time has been spent during the third quarter of this year evaluating possible enhancements to the eDOORWAYS service offering that take into consideration the extreme hardships many Americans now face in both their personal and financial lives. A number of possibilities have emerged that are now under serious consideration. However, with an exception of the key elements noted as a “must add now”, most of the enhancements in this regard will be made later, after the initial launch.
In short, it’s been a very busy, challenging but exciting year. Management fully understands the importance of getting eDOORWAYS out into the market, and we are going to continue to approach the project in a professional, step-by-step manner. To date, management is pleased with the results. We think that you will be too.
October 20, 2008 at 3:00 am |
I must say I feel better with the recent blog posted. This is the kind of information that I was wanting to hear. Please keep up the good work and everything sounds pretty positive at this point.
October 20, 2008 at 12:33 pm |
adam
how can u be positive when every dollar that we have put into the shares went zero?
October 22, 2008 at 2:54 am |
Well, I don’t think that being negative will do me any good at this point. I can only put faith in the revenue plan and hope that we are truly profitable by 4th quarter 2009. I have only invested money that I can afford to lose with out losing a wink of sleep. Like I said in another post, I am more interested in seeing/using eDoorways than I am making a truckload of money. Money is not everything. Sometimes it is more exciting to try and be a part of an innovative breakthrough in technolgy and the way we live than it is to make a quick buck. I have invested in other companies that run from investors, not communicate with them like eD does. So I have to commend them on that. Let’s hope that we can soon acknowledge that patience is a virtue…
October 29, 2008 at 8:18 pm |
Not much activity on the blog lately. Just checking in to see what all is going on in the eDoorway world. Is there a time frame on when we will be able to see some virtual tours or interviews with SpeakTech?
October 30, 2008 at 9:54 pm |
Our guess is that the market has captured everyone’s attention! Meanwhile, eDOORWAYS is moving forward. Management is focused on getting the 2nd and 3rd quarter filings to the SEC so that EDWY can return to the OTCBB. There is also activity related to next round funding. There was a recent discussion with speakTECH’s CEO about making the website available to our investors for a “look
see.” We’re working on setting that up now.
November 8, 2008 at 2:03 pm |
Any idea when the OTCBB might happen? What about the virtual launch? How’s that shaping up now?
November 10, 2008 at 1:22 am |
eDOORWAYS’ accountants and auditors are working on the SEC filings that will bring the company current. As soon as the second and third quarter 10Q filings are made we will apply for reinstatement on the OTCBB. Regarding the virtual tour, when the opportunity presents itself for eDOORWAYS to make it available, we will do so.
November 11, 2008 at 4:41 pm |
Let’s take a look into how eDoorways product will either thrive or dive in today’s economic conditions. Certainly, we want the service to thrive. Credit, for example, is tighter than it has been in years. Businesses are having trouble moving inventory they have on hand, as well as getting a credit line for future inventory requests. Consumer spending is dwindling away as the media drives fear into their minds. What are some positives? Well, for those consumers who are fortunate enough to still have a job, they are blessed with more disposable income due to the dive in oil prices. By the end of the year, I anticipate paying $1.50 per gallon in my area. That is huge compared to 3 months ago at $3.50 a gallon. Although we will see an increase in household disposabel income, the lack of confidence in the future will require consumers to purchase products and services at heavily discounted prices. So how can eDoorways facilitate this by helping the business and the consumer? If we really think about this, that is what eDoorways main purpose is. To drive voluminous traffic to businesses, while giving the consumers the safety net they desire to feel comfortable making that purchase, along with expert advice. I would like some real substantial input on this from someone familiar with economics. I have a business degree in information systems, so someone more educated or experienced in Econ or Finance can shed more light on this subject for me. eDoorways, i would like your thoughts as well. Thanks
November 26, 2008 at 6:14 pm |
Why new accountant?
November 28, 2008 at 6:52 pm |
eDOORWAYS did not change it’s accounting firm. The company did change its auditor.
November 28, 2008 at 9:45 pm |
Ok gotcha. Why would you change an Auditor right now?
November 29, 2008 at 3:57 am |
eDOORWAYS’ accountants, Albeck Financial Services in Houston, recommended GBH CPA’s in Houston as an auditor who specializes in firms of our size and composition. Albeck has had a very good experience with GBH and believes the change can assist us in making our SEC filings in a timely, cost effective, and efficient manner.
November 30, 2008 at 2:36 am |
Nice
December 2, 2008 at 3:31 pm |
Hello: I haven’t heard any news for awhile. When will you have a news release? What has edoorways been up to. How is it looking for a first quarter launch?
December 2, 2008 at 9:03 pm |
You will be seeing several press releases from eDOORWAYS starting this week. In those releases, we will bring you up to date on several things that have been going on.
December 10, 2008 at 3:33 pm |
And how is looking for a first quarter launch???? Bev
December 10, 2008 at 11:26 pm |
eDOORWAYS and our marketing consultants are watching the market closely to follow its developments. Our consultants have advised us to refrain from attempting a launch under current conditions. We are reserving the right to proceed as we see the market improve. Rather than lose valuable time, the Company has proceeded to work in several other areas that can lead to short term revenue and the acquisition of tangible assets. We have begun posting the results of our efforts and will continue to do so as things progress.
December 11, 2008 at 11:23 pm |
That sounds familiar…what about this “preview” you said we could have…not just pics but a good virtual tour perhaps?
December 14, 2008 at 4:15 pm |
The current website for the first launch phase has 133 pages. Recently, management pondered making the site available for investors to see. However, our marketing consultants questioned the wisdom of sharing our design with the world before the site is launched. Management understands your desire to know more about what’s “under the hood.” However, any information the company provides must be available for everyone to see. Your design questions are welcome on this blog and will be answered to the greatest extent possible subject to the considerations mentioned.
December 15, 2008 at 9:44 pm |
You couldn’t even do a..perhaps.. trailer? Like a movie? Maybe ask a couple of questions keeping private what you need to but let us see some kind of product in action. I understand not giving away the “secrets”…but would the screen pics and the use cases and what not have already done that?
December 17, 2008 at 9:58 pm |
Brian your idea about creating a “trailer” fits neatly into eDOORWAYS’ desire to create commercials that show the eDOORWAYS site in operation using a form of presentation analogous to the iPhone commercials. We will keep you advised of our progress. On another note, there are new developments beyond the first “doorway” that we can and will share with you. The first of a number of blog releases has been drafted and will be on the eDOORWAYS blog site in the next couple of days.
July 8, 2009 at 6:29 pm |
I have a question regarding the “Just in time training and education revenues” section. Using the example with Home Depot as mentioned, what would incentivize Home Depot to use eDoorways instead of their own website to offer online training? Thanks.
July 10, 2009 at 8:49 pm |
Eric, there will be multiple benefits to Home Depot if it uses our educational service offering to serve its customers using the SOLVE ecommerce platform.
Our technology will allow Home Depot to assess the skill and knowledge level of the customer beforehand, thereby determining up front the best path to take for their learning experience. Then, as they engage in the learning experience, the experience will be tailored to the way that he or she learns best. The technology will continually make assessments and modifications to adapt to how well they’re doing. This guarantees a satisfying learning experience for the customer. It also means that the customer will only spend time learning exactly what is needed, and no more. This means that Home Depot can meet the educational needs of its customer in the quickest possible manner (saving Home Depot dollars) while building customer loyalty and satisfaction. We don’t know of any other educational service offerings that can deliver such a promise today.