Job Responsibilities
Division Managers work for me and I have a regional staff of 10.
I approve all land purchases for proposed development projects,
reviewing all marketing studies, construction budgets, and
financial metrics like ROI, etc. before approving. Inventory
controls for the region also rest with me; I balance the amount
of investment dollars I want to put with each of my divisions,
based on how well I think they are handling what they have.
The job is still a 60-70 hour per week career, if I want to do it
right. I guess I'll slow down when I retire.
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Job Requirements
BSCE Civil Engineering at Univ of Illinois, 1971.
MBA Stanford University, 1984.
The most difficult thing about both schools was getting in. Once
there, I always felt that the work load was something that could
be handled, but it took many, many hours. Class work and
curriculum were both spectacular, they both really had their act
together, taught what I needed to learn and taught it well, in an
entertaining way, professors were all dedicated and highly
proficient. Grading at both schools was tough (I got to the "B"
level at both, but the number of "A"s that I got were few and
cherished.) Stanford was a difficult place to get every class
you wished, so you had to study the list early and plan your
schedule in advance. UofI was pretty much easy to get all the
required classes and there were few elective hours to plan.
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Uppers
People interplay. Building homes involves building a people product, with
hundreds and thousands of people, hiring them, working with them through
problems, training them (never thought I could actually be a teacher -- would
could I ever know), promoting the best and sharing success with all of them.
Of course, I always liked the product, putting little things together into a
larger thing has always been fun for me, since model airplanes as a kid.
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Downers
Lawyers, litigation, disputes..... This business involves lots
of money, lots of emotion, and it is very visible. When there is
lots of money around, the lawyers are not far behind. Jackals
sniffing for any weakness.
But, then, you get to work with other great lawyers to mount a
defense and beat back the bad guys.
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Lifestyle
Between too much and just a little travel. It can vary. Dress code is casual -
business, nearly no need for a tie. Work is as much as you want based on what
you want to get out of it. I've worked 60+ hours per week my whole life. Always
thought it would get less as I got older (now 55), but not so. The success
brings more responsibility for more people about more dollars. The hours tend to
not go down. You get accustomed to it and love it, though, if you have the inner
need to be very active and be always on the attack for success.
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Compensation
Started in 1972 as a junior engineer at $25,000 per year. 1982,
I left to return to Stanford and was making $50,000 per year with
a $10,000 to $20,000 bonus potential and a car allowance. 1992,
I went from one company (division manager) to another (division
manager), making $150,000 per year with $25-$50K bonus. 2002, I
made over $2 Million (1100 employees and $2 Billion in investment
responsibility). Stock options are on top of that working for a
public company. Some private firms have alternatives to stock
option plans, like partial ownership in income properties built
by the firm.
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Advice to Jobseekers
People will always need a place to live, although our products
today include many forms of residential living that we never
considered building 5 years ago. The industry will change, but
it will likely always be around. Can be VERY profitable for
someone who nevers tires, has good ethics, loves to share the
success with others, and gets a little lucky.
RULES:
1. Be careful what you get good at. They will soon pay you so
much you won't be able to afford to quit.
2. Honesty in all things. The truth stands on one leg, a lie on
one.
3. Be careful what you ask for. A promotion is not always a
better job or something you will enjoy doing.
4. They can never pay you enough to do a job you don't enjoy.
Find something you like to do and it won't seem like hard work,
no matter how many hours you do it.
5. If you don't care who you work for (or with), neither will
they. Be careful who you pick as a mentor.
6. Find someone who is VERY RICH and make him/her VERY HAPPY,
and the rest will take care of itself.
7. Spare me the weather report. That is, don't give excuses for
what doesn't work out well, give a repair plan.
8. Give away the credit and take the blame.
9. Compliment in public, criticise in private.
10. Have fun.
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