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Monday Morning Quarterback
Whether you're busy building or not, develop a process for post-completion evaluations — and improve your bottom line
By Gretchen Palmer
We all understand that teamwork is the essence of creating a successful home building business. But what, exactly, is the team’s work in the day-to-day operations of our companies?
For Palmer Homes, a crucial part of that work is a post-completion evaluation that includes:
While the less frenzied aftermath of a changing housing market allowed us the “luxury” of time to develop our post-completion process, we plan to make time for these data-driven meetings going forward, regardless of market conditions. Read more.
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Business Slow? Take the Opportunity to Build Trade Partnerships
By Natalie C. Holmes
There can be a bright side to a business slowdown: With labor more plentiful than new jobs, you have an opportunity to raise the quality of workmanship from your trade partners and build lasting relationships with the best trades.
Twenty-five years ago, Richard Pagotto started out, like many small volume builders, working from his kitchen table. Today he is part of a $30 million company. Regardless of your building company’s size, Pagotto says there are more effective ways to work with trade contractors than you might now be using. Read his tips.
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Get Involved with Business Management & IT Committee
Want to get involved at the national level of NAHB? Come to one of the Business Management & Information Technology Committee meetings at the Spring Board of Directors Meeting (June 5-10 in Washington, D.C.).
Meetings are open to all NAHB members and, in addition to the full committee meeting on Friday, June 8, 7:30-10:00 a.m., there are several “work group” meetings you can attend on Thursday, June 7:
Publications Work Group — 7:00-8:30 a.m. This work group develops and reviews new business management publications.
Financial Management Issues Work Group — 9:00-10:30 a.m. This work group will be reviewing the 2008 Cost of Doing Business Study.
Information Technology Work Group — 11:00 a.m.-12:30 p.m. This work group will be developing software- and technology-related education for the 2008 IBS, reviewing the computer labs, and analyzing results from its first software and technology survey.
Education Work Group — 2:00-3:30 p.m. This work group will finalize the review and ranking of business management education for the 2008 IBS.
Remember, all the work group meetings are on Thursday, June 7, and are open to all NAHB members who register for the Spring Board of Directors Meeting. Click here for more information on NAHB’s Business Management & Information Technology Committee.
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Help NAHB Help You With Software and Technology Issues
In an effort to continually improve NAHB’s software & technology resources for members, The Business Management & Information Technology Committee is conducting a software & technology survey. Members who take the survey will receive a copy of the results so that they can see how other builders are using software & technology in their businesses.
We need to hear from builders about their software and technology needs,” says Steve Lewkowitz, Chair of the IT Work Group for NAHB’s Business Management & Information Technology Committee. “Once we know their needs, we can create education and resources to help builders use technology to make their businesses more efficient and profitable.”
Remember, the survey runs through May 1and participants will receive a copy of the results via e-mail. Click here to take the survey.
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Hurry – Cost of Doing Business Survey Deadline Is May 1!
The deadline for submitting your Cost of Doing Business Survey is Tuesday, May 1! Respondents must complete and submit the survey by May 1 to receive a complimentary copy of the published study (a $99 value to members … non-members pay $299).
Go to www.nahb.org/cost as soon as possible to request your survey. The Cost of Doing Business Study is sponsored by Grant Thornton.
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Employee Benefit: NAHB Affiliate Membership
If you have employees in your firm, you may be able to sign them up as NAHB members for a very nominal fee. More than 180 local home builders associations offer an Affiliate member category for employees of members. While each HBA sets its own dues, they are typically very modest, and $5 is passed through to NAHB, which makes Affiliate members also members of their state HBA and the national federation.
Why consider Affiliate membership for your employees?
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While benefits at each local association vary, the membership category provides a formal recognition of employees of members’ companies who already may be participating in many association events.
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At the national level, there is a similar benefit. Affiliate members can serve on NAHB committees, task forces, and working groups. Plus an Affiliate member is recognized as an official member at each level of our association!
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Each member increases NAHB's voice for the housing industry. When our membership grows, so does our strength at the local, state, and national level in advocating issues that matter to you.
NAHB has established a Web page with additional information about the category. Visit www.nahb.org/affiliateinfo.
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Right Size Homes for Boomers, Entry Level Buyers
By David Bradley
Baby boomers have been housing’s best customers for the last several decades. As their families grew, so did their appetite for big homes, the so-called McMansions. This same generation still is the best customer of builders and developers—albeit a customer of a different type. It's no surprise that as they’ve matured, their taste in housing has changed.
With their children grown, Boomers are looking at the empty bedrooms and volumes of square footage and wondering, “Do we really need this much house?” For many, the answer is “No.”
Small Can Be Profitable
The well-publicized idea that boomers who downsize won’t sacrifice quality or the amenities enjoyed in their large homes can create multiple opportunities for builders, according to Stuart Tyrie, head of the National Builder Division for Wells Fargo Home Mortgage. He notes that Baby Boomers don’t want an econo-box.
“They may want small, but they don’t want it cheap. They want it nice. And if a better light switch costs $1.50 more that’s fine. Builders can add other relatively inexpensive amenities to set themselves apart with buyers,” he said. Read more.
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Investment Opportunity: Attend NAHB Legislative Conference
Decisions that affect your company’s bottom line are being made every day in the halls of Congress. Environmental regulations, tax policy, soaring health care costs and many other issues can add thousands of dollars to your annual operating budget, and Congress weighs in on each and every one of them.
The NAHB Legislative Conference provides a unique opportunity to discuss builder issues on Capitol Hill that will have a dramatic impact on your business and your bottom line.
The Legislative Conference also gives you the status of a Washington insider, allowing you to speak face to face with your members of Congress and to take a stand on the issues that affect you.
Take advantage of this special opportunity to educate your lawmakers on the issues that are impacting your business, costing you money, and driving up the price of new homes.
Attending the 2007 Legislative Conference will provide you an unparalleled opportunity to:
- Lobby members of Congress to protect your business
- Establish lasting relationships with your elected federal officials
- Share builder concerns in a national forum in Washington, D.C.
- Learn the latest policy developments on the key issues affecting your business
- Demonstrate your industry’s commitment to responsible policies, pragmatic reforms, effective programs, and to providing the resources necessary to meet our nation’s ongoing housing needs
- Network and share business strategies with your peers
- Learn how to be an effective advocate for your business and your industry
Your participation can make a difference! In these challenging times – when other interest groups are clamoring to push their agenda in Washington – a strong builder turnout on June 6 will send a powerful message to members of Congress: Housing must remain a national priority.
Come to Washington and show your members of Congress the great work you do back home in building your communities. Urge your lawmakers to adopt sensible policies to enable your business to thrive and allow the nation’s home builders to fulfill their mission of providing safe, decent, affordable housing to all Americans.
We look forward to seeing you in Washington. For more information and to register for NAHB’s 2007 Legislative Conference, log on to www.nahb.org/legcon or call Jessi Boyce at 800-368-5242 x8334.
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HBAs Can Apply for Advertising Assistance
If your local association currently is engaged in an ongoing advertising campaign in print, radio or television outlets, or if you are planning such a campaign, have your HBA apply for a "Buy Now" matching advertising assistance grant from NAHB. HBAs from around the country already have applied and begun receiving their assistance funds.
To date, 51 local associations have applied for advertising assistance grants from the $1 million to be awarded during the first phase of the program, and $997,433 has been approved. The total cost of the campaigns is $3.5 million. Another $2 million will be made available if the program is successful, and HBAs are encouraged to apply now.
NAHB launched the multimillion dollar grant program to assist local home builders associations in boosting home sales in markets hit hard by the current housing downturn, and to help offset the cost of local ad campaigns.
The NAHB "buy now" ad assistance program will provide grants to qualifying HBAs in three different categories:
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HBAs conducting ad campaigns in the top 10 media markets would receive assistance equaling up to one-third of the total cost of the campaign, with a maximum NAHB contribution of $75,000. In other words, an HBA conducting a campaign costing a total of $225,000 could receive a $75,000 contribution from NAHB and cover the remaining $150,000.
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HBAs with more than 250 members operating in areas outside of the top 10 major media markets would qualify for matching grants up to a maximum of $40,000 and be required to pay for at least half of the cost of the campaign.
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HBAs with 250 or fewer members would qualify for grants of up to $5,000.
To qualify for grants, the ads must deliver a "buy now" message, be placed in 2007, and be conducted in markets that have experienced a major decline in home sales and housing production.
To learn more about the program, eligibility considerations and requirements, click here, or call Niki Clark at 800-368-5242 x8061.
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Construction Forecast Conference: Attend in Person or Online
Some of the country's foremost economists will offer their predictions about the direction and future prospects of housing markets nationwide at NAHB's Spring Construction Forecast Conference on April 26.
Panels of nationally recognized experts will discuss the national outlook, regional projections, the "view from Wall Street" and the outlook for house prices, among other subjects.
Among those participating as panelists will be NAHB's own Chief Economist, David Seiders, as well as Mark Zandi from Moody's Economy.com, Jim Glassman from JP Morgan Chase, and Eric Belsky from Harvard University's Joint Center for Housing Studies.
Get more information and register for the conference online, or contact the Office of the Registrar at x8338. Alternatively, if you can't attend the conference in person but would like to participate via our live Webcast, simply visit www.nahb.org/cfcwebcast. For more information, contact Steve Melman, x8245.
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Place Orders By Friday for April Dell Computers Discount
Dell can help you do more for less! As an NAHB member, you can enjoy great savings on Dell's best-of-class desktops and notebooks designed to meet builders' needs. Through this Friday, April 20, you can save 20% on Optiplex desktops and select Latitude notebooks.
Among other features, these computers allow you to stay connected at the jobsite with mobile broadband technology.
Dell offers a dedicated sales representative for NAHB members--one who understands your needs and can recommend solutions that will improve your operational efficiency and security. Call 888-577-3355, Monday through Friday 7 a.m. to 8 p.m. and Saturdays, 8 a.m. to 5 p.m.
For more information on this and other NAHB Member Advantage benefits, contact Tiffany Smith at 800-368-5242 x8273.
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