If I or anyone else had concrete answers, we would. But there are none. In retrospect, and in simple english, the problem first lied with the machinery needed to run FNet.
We were told the hardware to run the IP-station was there, it wasn't, this was late 95 early 96. FCM or FTel at the time did not have the hardware they were boasting about from insiders to investors. So guess who gets the blame from second hand information, the old-timers. The information leaking out was false, or even call it a front.
Since that key year of 96, the hardware-N-software never grew up (together), with each forming valuable links within the company. Frank wanted so much to have everything in-house, built by Franklin. But knowing how swiftly the landscape changed with the importance of partnerships was key, no one paid attention, and Buswell wasn't there. This left a huge void for in-house revenue's and VAR/OEM aggreements from large corporations.
Speaking about the business-plan, the problem of capturing a VC grew harder when others were almost a year ahead of FNet in almost every capacity, no one talked about this, I didn't either. The vision was there, but the business plan "then' and how it reflects "now", doesn't come close to capturing the attention of VCs. Its as if FNet needs to re-invent itself, then add the VoIP with other inter-related IP services. It can be done if someone will focus on a new seed idea that will cultivate a full circle of services, in-house.
As everyone should be familiar with in these "advertising troubled times". Online adv-dollars are dropping off from the large 25 contributers of today. Its a fact that less than %5 of their gross revenue's are coming from the "icons/adv-E-dollars online". No one expected this to be such a backlash, but it is. Next fiscal year, advertisting dollars from the large market players will go elsewhere. Out of all the radio advertising each day, approx. 2/3rds around here are .com advertising. But this won't get to the final results all these e-commerce companies need. There another much stronger advertising / service's race lumming on the horizon.
How many have seen allot more home-internet-vehicle's one the road lately? What value added service's can these providers drum up when they make their initial visit to the home.
Let me tell you, I'd much rather see someone pull up to my house and offer multi-service's that I can choose from, and given that some are free, this makes it that much better.
Your going to see more in-home services that are going to be provided by "partnerships" within the ISP community.
Does anyone like online security?
Does anyone like a place to store digital images?
Does anyone like the ability to video their home to re-sale to the real-estate community at their price?
Would anyone like to have a array of software to choose from from a VAR making a partnership visit to the home?
Would you like all of this, setup a DSL service and more to your home all for about an hour of your time? I know of about 50% of the population that would be willing to pay for it given the free services, security features, from both the young and old.
Here's where FNet's focus should be, and on a multi-national scale. Never, never this locally, you'll never get the attention deserved by VCs. Hell, that's all FNet is right now, a place in which VoIP minutes run through, as Dave says.....biggie size that please!! : )
The bottom line here is from all the above mess> Any service that runs though the home that generates internet sales from a majority of users, can be incorporated within a "partnership" program. I've listed a few that really make sense.
Franklin needs to regroup and focus within a value-added home e-commerce solution.
Look at it this way, lets say the guy that cleans the carpets, what other service could he offer while in-house?
Answer: None, they want you in and out, right?
How about the guy that sprays for bug? Again, in and out.
But what about a security company that offers in-home services that offer a full package of inter-related "partnership programs"? This is what will happen in the future. Don't ask me who will partner and what the total service package will be, but it will happen and there will be a few controlling company's.
So what will FNet do? I don't have a clue.
I don't know anything about the accounting problems, or how FCM/FNet is spending its money. If it were mine, I'd strip it of almost everything but the wires and start over!! IMO, until something like this is done there won't be an IPO.
FNet needs to find a new niche and have the VoIP services in the background somewhere. Its absolutely insane to do otherwise. If FNet had anything going at this time, it would have shown its shiny face. After 5 years, you should give up and regroup, but thats just my opinion.
Does anyone really know how long it took Franklin's software to catch up with its hardware? That was one (1) of the key problems in adding additional value to the costumer. It took way to much time, money and effort. blah blah blah
sbt
to No one there seemed to get the picture or "care" about re-focusing their attention. As I've said all along, without the partnerships needed (there were none of any value), its as though you would have seen FNet at a party, but at this party, there the guy that sets over in the corner doing their own thing. No one cares, because the guy doesn't make the first outward aggressive steps towards friendship.
brick-N-mortar vs e-commerce . The initial vision of building a Value Added Service Provider / in my opinion has not. "then" could in no way reflect the e-domain of "today". The rapidly changing landscape of the interent |
