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Be ready to react no matter the outcome. As economic factors deploy either in a favorable direction or exacerbating the challenges that are peeking into the future, the time to plan for a change of direction is now.
To emerge successfully from these turbulent times, home builders must be prepared to react immediately to whatever changes occur, be it continued increases of interest rates, changes in customer expectations and demands, increases in material cost and delivery times, labor cost increases and availability, increased competition in the market place, drops in sales volume, increases in sales volume, or price ceilings. These external outcomes are generally out of your direct control, but the responses are entirely in your control, and the speed in which you implement changes to adapt your business strategies, policies and procedures determines your success or failure.
Be Prepared
Planning is the most basic and critical management function. However, it is mostly overlooked by managers who tend to react as changes are occurring. Internal factors such as product offerings, pricing, promotions, giveaways, and staff levels remain under the control of management teams.
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