Are you a hotel middle manager?
This update specifically showcases:
- Strategies to help you improve your productivity and financial skills
- A real world story of a financial skills savvy manager with no financial background (I worked with this person) and
- Content you might’ve missed this past month that addresses your challenges
Enjoy!
Hotel Middle Level Managers - Pain Points
Are you a Front Office Manager?
Housekeeping Manager?
Food and Beverage Manager?
Revenue Manager?
Or any other hotel middle level manager?
Then this update is for you.
If you have less than a year experience in hotels, you will want to read this even more.
Why, ask?
Coming right up.
The first couple of years as a hotel middle manager are the most anxiety prone.
You are in a:
- new environment,
- new office,
- new boss
- new colleagues and so on.
Everything is new to you.
You do not yet know who you will be working with.
It is also a time when you are new to your job functions.
You have to learn the ropes fast.
As a middle lever manager in a hotel you are sandwiched between:
- your boss and
- your reports
Your boss requires you to embrace the company vision and help deliver the results for your hotel.
And that is demanded fast.
On the other hand, your reports are looking up to you to guide them in delivery of the results.
You have to interact and get to know them and then get work out of them.
In short, it is a period when you are in thick of things.
3 Priorities for Hotel Middle Managers
And right at the top of those things, 3 priorities stand out:
- customer focus
- employee focus and
- business results focus
However, it is indisputable that you need some training yourself.
You need critical guidance that will help you carry out your responsibilities.
Unfortunately, as a newbie middle manager you can consider yourself extremely lucky if you get mentored by a higher up.
In other words you get guidance and training.
Most times, you get thrown into the operation and need to figure it all out yourself.
Not surprisingly, as a result, time and again surveys and polls come up with this worrying finding.
That most hotel middle managers lack the following key skills coming into a role:
- ability to be productive in a limited time frame
- ability to read and interpret hotel financial statements
Remember the three key focus of hotel middle managers we mentioned earlier?
Business Results Focus
Most middle level hotel managers are more comfortable with customer and employee focus than the business results focus.
Why, you ask?
Dealing with customers and employees generally is familiar to them.
However, they often shy away from business results.
Because of two reasons:
- Lack of financial background
- Lack of understanding of hotel financial statements
Are you one of these managers?
Then it is time you did something about it.
I am here to assist you in that endeavor.
Productivity Priority of Hotel Middle Managers
A hotel middle manager is expected to be:
- productive with time and
- show financial skills for successful decision making
Let us dive a bit deeper into these key priorities.
Productivity simply means utilizing your limited time in a day to do the right things.
Often middle managers get obsessed with doing things right.
Remember doing the right things will deliver better results than aiming for perfection in things done.
In fact, leadership management is all about excellence rather than perfection.
Excellence is about doing the right things.
Perfection is about doing things right.
Which are you pursuing?
In this March month, I shared an important blog post about Systems Vs Goals.
It is all about how to strive for and achieve excellence.
Click the link below:
Financial Skills Building Priority of Hotel Middle Managers
The second priority is about financial skills building.
More specifically it is about the ability to read and interpret hotel financial statements.
To take successful financial decisions.
And influence business results.
Click to understand more thoroughly about Financial Skills: Definition and Examples
Most hotel middle managers do not have a financial background.
This they take as a self fulfilling prophesy.
And tend to shy away from anything involving figures and financial statements.
They basically begin to fear numbers.
And dread those monthly hotel profit and loss meetings.
I am here as a finance professional to tell you that:
- Knowing financial statements does not require a financial background and
- You can learn this skill easily and get over the fear of numbers
Here is a blog post I wrote about a real world story why I make the above two statements.
It is about a colleague I worked with a few decades ago.
A colleague with no financial background!
My colleague at a beach resort from who I learned some great financial insights.
Yes, me with my financial qualifications learned from an individual with no financial background.
It may convince you to stop fearing numbers.
Click below to read the real story.
March 2023 Posts Published
In this March month, I shared blog posts about key specific financial skills that a middle manager must exhibit in their roles.
What are those you want to know:
Here you go.
- Budgeting and forecasting
- Inventory Management
- Break Even Analysis
It is part of financial skills building for those without a financial background.
I have written these posts specifically for beginner hotel middle managers.
Click the links below:
What Should You Look Forward to in April 2023?
Are you serious about upgrading yourself in financial skills?
In the month of April, I will be continuing to share content that will build financial skills, knowledge and ability in middle managers.
And shshshhhhhhh….
I will be giving sneak peaks into an entire library of financial resources specifically focused on hotel middle managers.
It will be part of the Ultimate Learning Hub for Hotel Finance Training.
The Financial Skills Academy Membership.
One tier in the membership program is directly focused on hotel middle managers.
Sign Up below to the Financial Skills Building Newsletter for updates, strategies, tips and secrets straight into your InBox.
How do you rate your financial skills?
Comment below, I will be keen to know your thoughts.
Is there any financial statement topic that you would like me to make more clear?
Comment below, I will take a shot at it.
I will see you in the next important problem solving resource for hotel middle managers.
Sign up to the Financial Skills Building Newsletter for more tips, strategies and secrets straight to your inbox.
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