Sales+Marketing: 10 mistakes Home Builders Should Avoid

In a recovering market, most builders find themselves with too little time and too many tasks that need to be completed. Normally you can get a great return on investment when you focus on the best way to implement the strategy and tactics of running a great homebuilding company.

Noelle Tarabulski, CEO of Builder Consulting Group, Inc., outlined the top practices of successful builders in Sales+Marketing Ideas magazine.

1. Have a clear understanding of strategy and tactics and the importance of timing their implementation in the current cycle as well as your current fiscal year.
2. Understand the important metrics of your housing market and submarkets.
3. Watch and understand trends at the global, national, regional, state, and county level.
4. Three-month, six-month, one-year and up to three-year trends of supply and demand must be monitored.
5. Primary research requires driving of all neighborhoods that are in your local submarket.
6. Design trends matter and can be an opportunity to win a competitive advantage.
7. Develop and perfect the process of new product development.
8. Perfect process flows, so they are done well and are repeatable.
9. The use of an operational summary, or dashboard, to understand the key metrics of a firm are very helpful and worthy of the effort to understand your weekly and daily operating results.
10. Be thoughtful of what suggestions can be implemented quickly, easily and will give you operating improvements immediately.

Try these practices, and maximize your bottom line. Read more here.