Issue link: http://read.dmtmag.com/i/755715
DECEMBER 2016 22 THE JOURNAL 2017 Will Be Our Time To Shine BY SCOTT STROUD MARKETING CONSULTANT No hype, I honestly believe that this is the best time in 50 years to be in the housing indus- try, and particularly factory-built housing. I feel that for two undeniable reasons: First, we're producing a better product then ever before. The homes we offer and the com- munities we have built continue to increase in comfort, safety and value. Even the exterior styling of some of our most modest homes is im- proving, and the interiors are approaching luxury standards in upper end homes. Yes, we're get- ting attention, and in all the right places. Second, the market is coming back to us, and this is exciting to see. Retirement and 50+ com- munities are hot properties – building more com- munities to fill the increasing need will be the real challenge. But even younger buyers are finding a higher value-based standard of living that can't be matched in site-built homes or communities. I originally thought that these buyers would go back to stick homes when their credit woes were healed, but not so – manufactured homes are the increasing choice for younger families with higher credit scores – if they can find what they like. The challenges we'll face, in addition to get- ting new communities started, will be developing financial products to meet the needs of a more middle class buyer, and spreading the word that we've got what they want. Both, I'm confident, will be addressed because that's what has to be done. The incoming administration promises a relaxation of Dodd-Frank and a commitment to repeal the heavy regulatory burden that we've been under. If that happens, that will add fuel to our growth. If not, we'll find ways to cope and grow nonetheless. But, internally, is our industry ready for this? Are we committed to keeping ourselves moving forward and promoting what we do to an ever- increasing market? Some of you are obviously ris- ing to the occasion. Others are not on board yet. So, let's go through a simple exercise to see if you're ready to take your seat at the 'big people's table' – the housing market in general? First, answer this question: What are the three biggest obstacles to your growth and prosperity? As a company or community, what problems are holding your back? What issues need to be addressed? What needs to change to get your business on the fast track? It shouldn't take too long to answer that ques- tion. You'll probably come up with many more than three things. If so, prioritize the list and select the three items that, if solved, will have the greatest positive impact on your business. Now, do this: Write down five solutions or answers for each of those problems. What will it take to fix each one? Who will need to be involved? What changes will need to be made within our industry, your market or even your company to move past that obstacle? Most importantly, what change in your own mind set might begin the process? Go ahead, spend a few minutes jotting down possible solutions, even if you feel they are out of your control. Now, if you went through the exercise, even if you did it mentally rather than in writing, did you see the initial problems begin to shrink? Al- most certainly, you did. As I travel around the country speaking to associations and working with individual business owners, I see that too often we get ourselves worked up about what we see as overwhelming problems, so much so that we don't even try to find solutions. Maybe some of these didn't have answers five years ago, but times change and new solutions are created or discovered every day. I don't believe that there are any problems that we collectively face that are insurmountable. Of course, call me crazy, but I also believe that our real market share should be 4-5 times what it is now, and that the biggest thing holding us back is small thinking. If we put just a bit more thought into the curb appeal of our homes; if we dare to realize that people with 750 credit scores can be attracted to the MH Lifestyle – and will be happier in a manufactured home than they would in a site-built community; if we can just understand that the message isn't "affordable homes", but rather "here's a home that you're family can own and enjoy and that will leave you with more money in your pocket to enjoy life", then we can overcome just about any obstacle that stands in our way. 2017, I believe, is truly our time to shine… if we can coalesce as an industry and develop a message that resonates with buyers, both old and young. But first we've got to believe that message ourselves. And I believe we're getting there. This past spring at the MHI Congress and Expo in Las Vegas, I was in the audience when some of the most respected and influential lead- ers in our industry took the stage together to dis- cuss the future of the manufactured housing industry. I was inspired by their honest appraisal of where we are and where we're headed. Since then, I've witnessed breakthrough approaches to home design, site development, energy effi- ciency, and value creation that are innovative and demonstrate how our homes can improve peoples lives – more people than we've ever at- tracted before. This will be a breakout year for our industry if we're willing to embrace breakthrough ideas. Are you onboard with that? Scott Stroud has been involved in the factory-built housing industry since 1980. He is a founding part- ner of Cash Flow Engineering, LLC, an international training and education firm helping small business owners and entrepreneurs drive consistent, predictable and sustainable cash flow and build healthy busi- nesses. He is also a Marketing Automation Special- ist and an Infusionsoft Certified Partner. Scott is author of three books, the latest being The Complete Guide to Selling More Homes – A Business Roadmap for Small-Volume Builders, Retailers and New Home Sales Professionals, available at CashFlowEngineer- ing.com. Contact Scott at 606.416.2078, or by email at sstroud@cashflowengineering.com. T J