Every business ought to periodically look at their performance metrics.
That reality check could be Daily, Weekly, Monthly, Quarterly, Annually as well as in units of 3, 5, 10 or even 20 years.
Then every business, person, and operation should ask themselves, ‘what’s the potential for my business or location?’
Among the most common mistakes in MHVille is thinking of “the competition” only in terms of other HUD Code or modular housing operations. While that’s a significant metric, isn’t the broader housing market’s far larger – and thus bigger opportunities – a more important measure? Aren’t more sales lost to other forms of housing, than manufactured homes? The obvious and honest answer is sadly, yes.
Limits of Growth?
There are practical or logistical constraints on every operation. A factory, using a hypothetical example, may only be able to produce 14 floors during a 9 hour day. With two full shifts, could they produce 28 floors? Logistical questions would determine how possible that might be.
A land-lease manufactured home community has specific limitations, based upon how many current or potential home sites it has.
A manufactured home retailer has space limitations too. But unlike a community, there are several ways that a creative retailer can overcome space limits to maximize their potential sales.
Think Win-Win
Every transaction ought to have mutual victories as its goal.
Some prospective customers reveal early on that they won’t be easily satisfied on price or could be hyper-picky on service. That may be a customer to politely pass on.
Normal customers know you have to make a profit. Set the correct, candid expectations, and the opportunities for a win-win will follow. With mutual victories, honesty, and good service, referrals are a natural.
What’s Your Potential? Cooked in a Squat
Self-limiting thinking or group-think are regrettably common among many in the industry. It takes a special kind of humility – and courage – to ask, what could my business or location achieve?
That kind of open, honest questioning and willingness to learn new ideas can leads to far higher results and profits. And to us, that always means profits ethically obtained, with happy customers and thus sustainability.
Often, it is relatively modest adjustments that are needed to move towards tapping your operations or locations potential.
But sometimes, a serious shakeup is required.
What’s your potential?
In broad terms, given the affordable housing crisis, it can be 500% to 1,000% more than the industry currently collectively enjoys.
Want to get there? Give me a call, or send a message. We know the secret sauces for tasty results.
That’s “Innovation, Information, and Inspiration for Industry Professionals.” (C) Ready for the next steps? Click or call. ## (Coaching tips, marketing, sales, management, commentary, and analysis.)
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By L.A. “Tony” Kovach – Masthead commentary, for MHProNews.com.
Tony is the multiple award-winning managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.
Office 863-213-4090 |Connect on LinkedIn:
http://www.linkedin.com/in/latonykovach
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