28Jan

5 Steps to Be a Front-Runner: Revenue Manager Training & Development

Author: Tammy Farley

 

Like the current presidential race, the environment we live in is constantly changing and evolving. This remains true in our careers. If revenue managers want to successfully stand out from the crowd they need to be connected, not only to the industry they’re in, but to their colleagues, technologies, trends, and clients they serve. The revenue managers who seek to grow and learn are the ones who excel at their jobs and advance their careers.

group of runners' legs in a raceHow can you become a front-runner?

  1. Build strong relationships with industry associations. Industry associations provide an abundance of networking events and always provide opportunities to learn. You can absorb information from your colleague’s perspectives, stay abreast of industry trends, and participate in exclusive educational sessions. Are you aligned with National Apartment Association (NAA) for multifamily housing or the Hospitality Sales and Marketing Association International (HSMAI) for hotel and gaming professionals?
  2. Find a mentor. There is no one better to learn from than someone that has been there. Their perspective and experience can help you define and reach your long term goals. Mentors are great for assisting you in developing a career ascension strategy, solving tough concerns or general industry insight. You may be able to find your mentor at an industry association event.
  3. Become an expert at the tools you use. Revenue managers use technology to help optimize pricing. Job functions do not require the use of all of the bells and whistles. Knowing a little more than what is required gives you the opportunity to develop a better lead your team through understanding and awareness. If your revenue management system offers training on their software, take the training! Revenue managers just like you will be in attendance. Who knows? While attending a training, you might just meet your mentor and finally decide to join an industry association.
  4. Share your experiences. Your knowledge, successes and failures are all valuable. Your perspective could be what someone needs to hear to help them make the best decisions. Establish yourself as the influencer you are. How?
    1. Become a mentor.
    2. Start a blog.
    3. Pitch article ideas to media outlets.
    4. Apply to speak at conferences and conventions.
    5. Host a webinar.
  5. Keep up with technology. Technological advancements often start from a need for a more efficient or less cumbersome process. New apps, inventions, mergers and acquisitions often change the way we function in our business and personal lives. A good front runner will be able to reflect on how the changes impact their industry and articulate them to the audience they’ve picked up while sharing their experiences. We provided a few blogs to help you with the technology angle of your front-runner efforts.
    1. Engadget
    2. Wired
    3. TechCrunch
    4. The Next Web

There’s no time like the present to take your professional development into your own hands. Start with a plan and set deadlines. Before you know it you’ll be the front-runner.

Interested in becoming an expert on Rainmaker’s software solutions? Attend the user conference, OPTIMIZE!

 

Photo Credit: Pressmaster/Shutterstock

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