This Executive Forum panel, sponsored by Avid Ratings, focuses on the key concepts behind housing transformation and the valuation implications for builders who pursue them. Joan Webb, Former CMO and advisor to The New Home Company, and John Galante of AE Ventures, host the discussion with panelists Keith Anderson of Keith Anderson Consulting, and Larry Webb, who is Former Executive Chairman & CEO at The New Home Company. Melinda Hurley from Avid Rating delivers the opening remarks.
Melinda Hurley, Sales Director at Avid Ratings, delivers the opening remarks. Avid Ratings is a complete industry solution for all building product manufacturers, dealers and distributors, homebuilders, remodelers, specialty contractors, and other home professionals.
Keith talks about the efficiency opportunities in the construction industry. “It’s amazing when you walk through anybody’s site, you can point out 15-20 things that they should be looking at, doing that should be more efficient to increase days, to increase the time to closing.” He mentions the importance of new materials that can change the paradigm in construction cycles. “I was reading a little article the other day about the Fortune 500 companies, 86% are no longer here from 1955 to now, because they did change their business, so that’s why I’m excited about the Housing Transformation group, excited about sharing ideas,” he says.
Larry agrees with Keith and brings up the challenge of creating an organization that is constantly changing to meet the demands of customers. “If you’re not surveying your buyers, you’re making a horrible mistake,” he says, outlining the enormous benefits of understanding employee and buyer needs. According to Larry, there are two main things that contribute to a successful company, “the first is to hire people who are going to embrace change in complexity and be really good team players, and secondly, to create a vision for your company that will resonate with all your employees.”
According to Keith, people want to mentally and financially benefit during up-turns, which is why employees sometimes leave for another opportunity. Nevertheless, some employees come back and it’s beneficial to keep the door open for them. “What homebuilding truly is, is the ultimate team game. We all need each other in all of these different facets,” says Larry.
The panel discusses the importance of having a diverse workforce built on trust and desire for innovation.