In the homebuilding industry, there is an unfortunate phenomenon in the 4th quarter. It is an intense time when up to 60% of units are closed in just a few months. Partners are pushed to their limits, employees work long hours, and your entire team goes into the holidays drained.
At Continuum Advisory Group, we call this phenomenon the 4th Quarter Fire Drill. It is a natural consequence of bad habits. Like any bad habits, these can be unlearned and prevented.
In Video 2 of 3, Continuum Advisory Group Principal Clark Ellis discusses how procrastination is innate, especially when facing a difficult decision. However, construction relies on prompt decision-making. This is particularly relevant when cycle times can’t be compressed.
Going off of point two above, authority figures need to set deadlines and hold their staff accountable to them. The less tasks slip, the less has to be done in the fourth quarter.