[VIDEO] Mathlete Mondays- 5 Things I Wish I’d Known Before Entering Revenue Management Pt. 3

Welcome to this episode of Mathlete Mondays. This week, we’re going to talk about the #1 thing I wish I’d known before embarking on a career in revenue optimization. If you missed the first two episodes, you can find them at focalrevenue.com/content.

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#1. Idiots, ***holes, and saboteurs exist in the real world too.

The number one thing I wish I’d learned before jumping into revenue optimization?  The fact that idiots, assholes, and saboteurs exist in the real world too.

While in college, I remember sitting down and talking with my friends about my frustration level with certain members of my group for a class project.  They often weren’t pulling their own weight, and the work that they would submit often needed serious retouching before we were able to turn it in.

Little did I know that during my career, my success would depend on working with those that nobody wanted in their project group during college.

The single most important thing you can do to ensure your success in revenue management is to hone your communication and collaboration skills, and to learn how to build a revenue management culture with the team around you, regardless of their skill set or how you feel about them personally.

No matter how effective you are in your “job functions”, you can only go so far alone.  If you don’t have a team, network, and support system around you, you will fail.

The key to building this culture is to take the time to understand what makes your team click, and to work within that framework in order to carry out your agenda.  You can accomplish far more by showing people how helping you achieve your goals will allow them to accomplish theirs than you can by trying to strongarm them into something without showing the benefits.

A funny thing may happen when you work with people to gain consensus.  You may find out that they aren’t idiots, assholes, or saboteurs after all.

I’ll conclude with this- It’s important to remember that at varying points throughout your career, you will inadvertently play the role of idiot, asshole, or saboteur yourself.

One of my biggest failures occurred during the early years of my career, when I was tasked with leading my first reservations team.  I was coming into a situation where wholesale changes were needed, but rather than taking the time to get to know my team and figuring out how I could motivate them to help me make these changes, I simply mandated what needed to happen. I hadn’t built up the requisite leadership capital, and I was a bit overbearing.  As a result, I turned over an entire team.

While it worked out in the end, I’ve always wondered how much more quickly I would have been able to implement the changes had I been more focused on leading rather than barking orders.

I’ve also had more than my fair share of turns playing the idiot, which I find often happens when I spend more time speaking than I do listening and seeking to understand.  Fortunately, throughout my career I’ve also been fortunate enough to have worked with leaders that have shown me grace at each turn, and for that I owe them everything I’ve been able to achieve to date.

Closing

If you enjoyed this week’s episode, please share it with your colleagues and friends. For more Mathlete Monday episodes, head over focalrevenue.com/content, where you’ll find a link to subscribe to future updates. As a bonus, when you sign up I’ll add you to our monthly digest containing links to the top revenue optimization articles and white papers, which we’ve curated specifically for Focal’s fanbase.

Thank you for joining me, and until next time, good luck outrunning the competition!

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