Operations, including financial management, is the final area of focus for builders. "Having a detailed understanding of your operations and financials allows you to have a proactive management team versus a reactive one," Benshoof said.

"The best performing builders out there know their numbers, so make sure you know your numbers," he advised. Specifically, there are four key areas that he advised builders to emphasize within their operations:

1. Budget v. Actual Financials - "Get your budget done and maintain a good record of your job costs," he said. "There should not be a single action taken that doesn't show up in your financials if you're doing it properly."
2. Cash Flow - Understand the difference between profit and cash flow. "Your goal is to be able to maintain free cash flow in good markets," he said. "Again, your aim is to have a proactive operation, not a reactive one, and you can't do this without properly managing your cash flow."
3. Slot Schedule - "The start of the home is the most important point in the sale of the home, so make sure you have a good grasp on the schedule."
4. Two-Minute Report - This "top of the pyramid" report details key activities, including sales, starts, marketing activities, and customer satisfaction. "This type of report creates a leadership feedback loop that allows businesses to adjust operations as needed and is variance driven, allowing a focus on identifying what went wrong and making necessary adjustments."