The public builders in our industry are reporting record writeoffs, yet many in our industry continue to view this downturn as temporary. Even more disturbing is the lack of effort we see among some firms to react passionately to save their company even further losses, As I write this, I know every reader assumes I am talking about someone else. This e-mail is designed for every participant in the housing industry, including all of the members of our team, land developers, construction lenders, service providers, contractors, product manufacturers, distributors, suppliers, etc. – no matter the size of your company.
Here is the checklist I’d like you to follow:
- Passionate – Does your entire team care passionately about doing a great job? What extra effort can you specifically point to for each team member?
- Decisive – Are you known throughout your company and the industry as someone who makes good decisions quickly? Can you point to several instances where your competitors or others within your organization copied the decisions you made after you made them? Is it your corporate culture to address tough decisions quickly?
- Authorized – Are you given the authority to make good decisions quickly? Are decisions appropriately delegated to people throughout the organization?
- Listener – Are you known as a great listener? Are you spending at least 8 hours per month gaining the perspective of others by taking the time to attend industry events, meet with competitors, and meet with others with whom you are not conducting every day business?
- Informed – Are your decisions based on four criteria: 1) well-researched, 2) actively debated among management, 3) based on past experience and 4) in concert with your gut instinct?
I want all members of our team to answer “yes” to all of the questions above. I want all members of your team to answer “yes.” One of my favorite “philosophers” is legendary basketball coach John Wooden, who said, “Be quick, but don’t hurry.” Do your homework. Make good decisions quickly. Save your company millions today so you can earn millions tomorrow.