Business Strategy Lessons From the Building Industry's Sages and Survivors
One of the most talked about aspects of any business is strategy. The word strategy by definition means a set of plans to achieve a goal, but creating and executing a successful business strategy isn’t so simple. The way different homebuilders work to create a plan for their business and then use their resources to achieve tangible results is ever-changing, but many of the most successful homebuilders share the same fundamental ideas.
Following last month’s article, “12 Things I Wish I Knew About Home Building Before I Turned 40,” I sent the column out to various “sages and survivors” of the homebuilding industry to hear what additional advice they might offer. Responses flooded in, covering a variety of topics from buying land, the importance of research, and even managing risk.
Among the most interesting gems you’ll read is from Dave Erickson, President of Grayhawk Homes, on the need to evolve your business strategy to adapt to the current market. I used this quote from George Hess of Vantage Homes to sum it up nicely, “This is a relationship business. We have done more lot deals because of relationships than we ever did because we were a good builder. The latter matters, but the first is all-important. We’re in the People Business.”
To read more of the wisdom shared by homebuilders across the county, follow this link: https://www.probuilder.com/business-strategy-lessons-building-industrys-sages-and-survivors
… and don’t miss this special opportunity to enhance your margin:
Attached is a one-page flyer detailing the “ProConnect” event coming up in October in Pasadena. You will meet with up to 30 leading industry suppliers, one-on-one and learn what they can do to enhance your product or building process. I witnessed this personally last April at the first ProConnect event in Ft. Lauderdale. It was remarkable. And bonus, I will be speaking on “Grand Theft Homebuilding” with a special emphasis on measuring (accurately) and eliminating VPOs. Perhaps even better, all of your expenses, airfare and hotel, are compensated by the conference. Check it out and call or email me with any questions. You may also register using this link: https://probuilderconnect.mybusinessmatches.com/
NEW home quality control consultant and trainer. I am on the A C O board of directors with Humana I work on value-based strategies Top real estate voice badge ! And top construction voice badge !
6 年Scott you're right on target like always strategy and commitment to strategy is the way to go I love the comment by the gentleman who's in the Home Building business that this business is a relationship business that alone should get him the Pulitzer Prize thanks for sharing PS as you know my whole career has been spent strategizing on how to make a better relationship with our customer both you guys or right on