As a homebuilder, you’re in the business of working from the ground up. With every home, you start with knowledge, experience, and materials. You also have a homesite that you’ve excavated to remove the debris that will be in the way of your plans. You should think seriously about taking a similar approach with your business in its current state. It could be time to tear down and rebuild your business.
Once in a while, you need to stand back and see your business from an objective perspective. Processes and methodology for “the way we’ve always done it” obstruct your view. Just because a certain approach has always been in place doesn’t mean it contributes to the “structural integrity” of your homebuilding business.
Why fix what isn’t broken?
I’m not saying your business is riddled with flaws; however, during a strong housing market, it’s easy to overlook issues that could present bigger problems when the market slows down. And let’s be honest here. This unexpected rush WILL taper off.
For almost a year, new home sales professionals haven’t been selling. They’ve been taking orders from eager buyers. The low interest rates and the cramping that resulted from sheltering at home have made it easy to sell new homes.
While your sales team is out there harvesting this bounty, are they sharpening their selling skills for the inevitable downturn?
And while homebuyers are hungrily scooping up your inventory, have you taken the time to see if what your building will meet their needs in a more competitive market?
Look deeper. Do you have a team of professionals throughout your organization who are poised to spark new growth in your business?
Final question: Do you even know what you don’t know?
The time to examine and rebuild your business to a sustainable model is now, during a vibrant housing market. If you wait till things slow down, you’re already behind. With a strong revenue stream, you can do your review and make necessary changes without being in desperation mode. You can recruit, hire, and train new employees without rushing the process. Hire good people BEFORE you need them, not when you’re pushed to do so.
Take a close look at your process. Where do you want to be in the next few years? What can you expect to achieve with your current team, product, and processes? Break down your business. Pull it all apart. Then rebuild it, one person and one step at a time, examining the contribution of every, single factor along the way.
If you need some objective help, let’s talk.