Volume 1 Issue 1 February 2009
WHAT IS NEW AT T M STEINBERG & ASSOCIATES, INC.
TM Steinberg & Associates has been in business since 200. At he end of last year a program was launched to establish a continual and effective line of communications with our clients, associates and friends. To achieve this endeavor we have taken the following action steps:
- With the help of Iris B Communications the website www.tmsassoc.com has been redesigned and expanded to create an identity and provide information on the variety of services that we offer. Please take a few minutes to become familiar with the site. It is our intention to continually add features to make the website a useful tool to our interested audience.
- Produce an ongoing newsletter to announce updates about TM Steinberg & Associates as well as specific industry-related news, editorials, and suggestions as to how we can assist your company.
The action points noted above, along with other projects to be initiated in the future, should go a long way in achieving our mission statement which is:
Provide high quality professional expertise in finance, accounting, and technology management systems to the hospitality industry in the areas of:
- Asset Management
- Financial And Operational Reviews And Analysis Studies
- Special Project Assignments: Such As Due Diligence, Business Takeovers, Budgeting, Feasibility Studies, Etc.
- Professional Staffing For Accounting, Finance, And Technology
- Internal And Risk Management Audits
- Accounting And Hospitality System Installation
- Improve Utilization Of Internet Operations And Marketing
HOW TO COPE WITH THE IMPACT OF THE ECONOMIC RECESSION
IN YOUR HOSPITALITY BUSINESS
President Obama has told the nation many times since this election, that we face very tough challenges and that the road to recovery will be long and that patience will be required of all. Likewise as leaders of your business, you will need to demonstrate leadership skills to your staff to guide them in these challenging economic times. The following bullet points are ideas that you should consider to be successful in this endeavor:
- Always demonstrate confidence to your staff that your company, hotel, restaurant or organization is strong and will survive this challenge. Let your staff know that everyone must contribute creativity and resourcefulness. As a team you not only will survive but you will gain a competitive advantage.
- The life blood of any business is cash flow and constant review and planning are extremely important. The recession's major impact to cash flow is the loss of revenue which requires the following action steps:
