The Monday Morning Quote #234

“The more a man is, the less he wants.”

Maxwell Perkins

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Email to SurgeryLine.com

Dear Gemma

Thank you for your email. Please note that I am no longer associated with the practice that used your company for their telephony. Please remove my email address from your database.
I do not approve of my email address being shared with 40 odd others (and I am sure they feel the same about me). It is disappointing that a firm like yours does not grasp the difference between “Cc:” and “Bcc:”. Such a lapse in fundamental data protection makes me question your abilities and attitude to customers data.
I hope that you will apologise to me and the others on this list (who I have deliberately Cc’d to inform them) for this lapse in basic data management.
Sincerely
Alun Rees

In response to:
Good Morning
 
I am e-mailing to check that all is ok with the telephones and to see if I can help with anything at all?
 
I wanted to let you know too that we have a couple of new products available. We now offer mobile phones, so if you use business mobiles or are thinking of doing so in future please let me know and I can put something together for you. Also we now provide Wi-Fi for either staff, or the waiting room for patients. Again, if this is something you are thinking of implementing in your surgery please ask me for further details.
 
I hope to speak to you soon.
 
Kindest Regards,
 

Gemma ******
Account Manager

Direct Tel: *****
Account Management Group: ******
Mobile: ******
Fax: *****
 
Daisy Surgery Line
14 The Capricorn centre
Cranes Farm Road
Basildon
Essex
SS14 3JJ
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CAUTION – The information contained in this message is legally privileged and confidential information intended for the individual use of the entity named as the recipient. If the reader of this message is not the intended recipient you are hereby notified that any dissemination, distribution or copy of this message is strictly prohibited. If you have received this message in error would you kindly notify Daisy Surgery line Limited trading as Surgery Line. Any views expressed in this message are those of the individual sender and may not necessarily reflect the views of Daisy Surgery Line Limited trading as Surgery Line or its associated companies.

Latest NASDAL Goodwill Survey Results Released

From the recent ezine from Alan Suggett & the team at UNW

LATEST NASDAL GOODWILL SURVEY RESULTS RELEASED

NHS dental practices continue to attract higher prices than private practices according to the latest goodwill survey results from NASDAL.

Carried out quarterly, the most recent survey for the period April to July 2013 shows that on average, an NHS practice – defined as a practice with more than 80% of its income from its NHS contract – had an average goodwill value expressed as a percentage of gross fee income of 105.2%.

Since the two previous surveys showed that NHS practices usually command considerably more than 100 per cent of turnover and private practices around or below 100 per cent, a trend is established for 2013.

When the figures for valuations (i.e. as reported by professional valuers) are compared to the figures for deals (i.e. actual sales or purchases of practices), it indicates that NHS practices can fetch more than expected, and private practices go for less than expected. Meanwhile, mixed practices are more predictable. The valuation average for mixed practices was 100% in the quarter ending July 2013 and the deals show an average price of around 95%.

Alan Suggett, a specialist dental accountant of UNW LLP commented: “My thoughts about the survey are that it continues to show that NHS practices are highly sought after – with smaller ones being sold with goodwill valued on a percentage of fee income basis (usually around 100%), and larger ones on an EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) basis, which can yield much more.”

A key aspect in the differentiation is that large NHS and mixed practices are of interest to corporate buyers which are competing with each other.

The figures can’t be taken in isolation, Alan stressed, since large corporate purchasers usually insert performance criteria into their buying price. So, whilst they may be ready to pay above “market rate” for a practice, but if in the years following the sale the practice doesn’t perform in line with pre set expectations, then the sale price is reduced. He added: “We are therefore measuring a maxi- mum sale figure which, in the course of time, could be reduced.”

Twitter, that Old Media Darling

Meet the new boss, same as the old boss.

An interesting blog from HBR. As regular readers will know I am ambivalent about Twitter – finding it “too noisy” for my tastes.

Did you hear? Twitter’s initial public offering is coming. News of this has created a fresh round of pontification across digital media. There are already winners and losers. There are reasons to worry (140 of them, naturally). Its IPO is “unusual.”

The IPO will finally put a market value on Twitter—is it $10 billion? $100 billion?—and many digital types hope and believe it will validate new media.

Then again, what if Twitter isn’t really new media after all? Before you get ecstatic that Wall Street is about to validate new media, listen to one researcher, who has come to the conclusion that Twitter is becoming “a non–evolving, static structure, like TV…It’s just going to become a new way to follow celebrities, corporations, and the like.”

That’s Olivier Toubia, from Columbia Business School, who co-authored research on Twitter calledIntrinsic versus Image–Related Motivations in Social Media: Why do People Contribute to Twitter (pdf), which was recently published in Marketing Science. We caught up with Toubia to talk about his research and the evidence that Twitter’s becoming, as he says, “a traditional channel.”

HBR: How do you come to the conclusion that Twitter is becoming much more like old media than continuing to blaze a new media trail?

Toubia: My colleague Andrew Steven from the University of Pittsburgh and I researched how people use Twitter. But we didn’t ask them “Why do you post?” We did an experiment. We created 100 synthetic accounts to increase the number of followers from some subset of 2,500 non-commercial Twitter users. These were very realistic accounts with avatars, and followers, and posts. We literally made people more popular and watched how they responded.

How did they respond?

For users that already have many followers, as they become more popular they become less active. It appears that at some threshhold, they have earned their status as “popular” and they stop working as hard to earn more followers.

This assumes that people’s motivation in posting is to earn followers.

What we know for sure is that non-commercial users don’t have any direct financial incentive to post. We had two hypotheses as to why they do post. One is that they like to share information with world, that they want to reach others. This is an intrinsic motivation. They enjoy the act of contributing. The second hypothesis is that posting is self-promotional, a way to attract followers to be able to earn higher status on the platform. Judging by how people behaved once they achieved popularity—they posted far less content—we believe the second hypothesis is probably the primary motivation. If the primary motivation were to share with the world, most people would not slow down posting just because they were popular. But most people did slow down as they gained followers.

Okay, but how does this make Twitter more like old media TV than new media?

So as Twitter becomes mature, the connections become stable. There are fewer new people and there’s less room for new following. When that happens, posting will not be a way to attract new followers. If the motivation for non-commercial users is to gain followers and they can’t do that, they are not motivated. They can’t get the value out of the platform that they want. If they stick around, the value proposition has to shift away from contributing , to become more popular, and toward consuming content, to be entertained.

What content will they consume?

Content that’s produced by people who still have an incentive to contribute: commercial entities and celebrities. Professional content creators. You end up with commercial users who get value by producing content for non-commercial users who get value by consuming it—just like TV.

So does this mean Twitter is being overvalued as a new media brand as it approaches its IPO?

It’s hard to answer the question. All I can say is that the value from Twitter, whatever it is, will come from traditional channels rather than from conversations between people. It has more value as a traditional media platform than as a platform for conversations which is what we think of it as. I don’t know how much peer-to-peer communication and information sharing factored into the valuation, but it’s clear to me that’s not where the value will be.

Twitter maybe not as disruptive to media as we thought it was?

It’s going to end up much less that revolutionary grassroots source of ideas and will instead converge toward a traditional commercial venture . It will be harder and harder for non-commercial users with interesting things to say to cut through the clutter. It will be harder to get noticed. Also, it’s a bit unrealistic to expect everyone to have value to bring to the platform, so we end up with the professionals producing the content, just like with TV and magazines and so forth.

Do you find this at all sad?

I think it will be sad, yes. The effect when something good gets attention and everyone gets on to it inevitably affects what made it special in the first place. But maybe this just settles into what it will be and the next grassroots social media movement will come along. It’s not the end of social media.

What do you think the executives at Twitter think about this idea that they’re becoming old media?

I think they understand it. You can actually see it in their positioning. I kept two screen grabs of Twitter’s “About Us” page. One is from more than two years ago, and it was all about sharing and the grassroots aspect of spreading ideas around the world, and the fact that it’s “powered by the people”:

twitterthen

Now, they’re saying, you don’t even have to post, just come and be here on our platform. It’s about following and even goes so far as to suggest “you don’t have to tweet to get value from Twitter”:

twitternow

They have changed their positioning significantly. They’re courting consumers, not producers. They’re trying to monetize eyeballs, which is very much an old media way of doing business.

More blog posts by 

Scott Berinato is a senior editor at the Harvard Business Review.

The Monday Morning Quote #233

“Human beings who are almost unique in having the ability to learn from the experience of others, are also remarkable for their apparent disinclination to do so.”

Douglas Adams

dna6c

Mouth Cancer Awareness Day – Wednesday September 18th.

In 2011 Mouth Cancer Awareness Day was successfully launched in Ireland by the Mouth Cancer Awareness Group.

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Members of the public are encouraged to visit dentists participating in the scheme for a FREE mouth cancer examination.  The Mouth Cancer Foundation has recently launched its Mouth Cancer Screening Accreditation Scheme which encourages all dental practice to carry out screening at routine check-ups.  Mouth Cancer Awareness Day ties in with the ethos of the Mouth Cancer Screening Accreditation Scheme so with permission of the Mouth Cancer Awareness Group we are launching the first Mouth Cancer Awareness Day in the UK.

The Mouth Cancer Foundation is asking all dental practices to get involved by signing up to give members of the public FREE mouth cancer examinations at dental practices across the country on Wednesday 18th September 2013.

If you are a member of the public all you need to do is find a participating dentist and get in touch to book your appointment.

Mouth Cancer can be deadly and early detection is essential. In the UK, nearly 8000 people are diagnosed with Mouth Cancer every year.  Cancers can occur in any part of the mouth, tongue, lips, and adjacent areas like the throat, salivary glands, pharynx, larynx, sinus, and other sites in the head and neck area. In its very early stages, these Mouth Cancers can be easy to ignore.

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The Mouth Cancer Foundation has devised a ‘Two minutes to save a life’ mouth cancer screening protocol, which is a 10-point checklist that every dentist should be able to include in their routine examinations, whether they’re based at an NHS, private or mixed practice.

The Monday Morning Quote #232

“The main thing is getting started, keeping going, then getting started again”

Seamus Heaney

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