We've hit a crossroads: Too soon and too late have converged.

The Committee judges that the risks to achieving its employment and inflation goals continue to move into better balance. The economic outlook is uncertain, and the Committee is attentive to the risks to both sides of its dual mandate." – FOMC Statement

High-level, this means that progress in the inflation fight puts the Fed in a position to continue efforts on the inflation front while giving a sustainably strong labor economy side-by-side focus as a priority.

The stage is set. A September Fed funds rate cut is in the offing.

The stakes are high for Fed officials, who have been trying to navigate two risks. One is that they ease too soon, allowing inflation to become entrenched at a level above their 2% target. The other is that they wait too long and the economy crumples under the weight of higher rates." – Wall Street Journal

So, here homebuilding organizations of all sizes are, at the corner of too soon and too late. As yet, the jury's still out on how tectonic shifts in the economy and the Fed's impact on stimulating or cooling it down will play out.

Among leaders we've talked to, a sluice gate of pent-up demand may burst open with the Fed's first such move, with more cuts expected to follow. Or, maybe not.

Either way, readiness is all.

Wisdom, experience, intuition, data, technologies, smart use of capital, and people. This is where our upcoming Focus On Excellence leadership summit will concentrate. It's explicitly designed to bring a multi-generational cohort of business leaders to work elbow-to-elbow with one another to empower, inspire, educate, and motivate "next-gen" leaders to become business- and people builders in an era of unprecedented, seismic, accelerated change.

The Focus On Excellence leadership education and training summit, scheduled for October 28-30 at the Hyatt Regency Lost Pines Resort in Austin, promises to be a pivotal event for those at the helm of the industry, especially on the eve of the 2024 Presidential election.

To learn more about Focus On Excellence, click here.

We asked Larry Webb, one of homebuilding's time-proven leaders in the art, science, and business of minting "people builders," to talk with us about why he's excited to participate in our Focus On Excellence program.

Getting your next generation people exposed to new ideas, which a conference like this should do. It should also open them to considering new ideas and hearing that leadership is a set of skills, just like anything else. It's a moment this has to happen.”

He emphasizes the crucial moment we find ourselves in, with market uncertainty and evolving dynamics requiring a fresh approach to leadership. He states,

Besides high interest rates, the marketplace is full of uncertainty. It's essential to get smart people in a room to discuss it and hear their ideas. As the world changes, as our business changes, you need to be less isolated. You need to be able to evaluate any forces of change, and you need to adapt and change, modify your company to take advantage of those future opportunities.”

Webb underscores the need for next-generation leaders to be exposed to new ideas and to challenge old paradigms. He also highlights the importance of recognizing and adapting to relentlessly rapid and sometimes turbulent change.

Forces of change are always at the forefront of great leadership. Identifying them, thinking about their impacts, and then acting on them is key,” he asserts.

The Focus On Excellence summit offers a unique environment where leaders can engage with these concepts, discuss their implications, and develop strategies to navigate them effectively.

Unlike traditional conferences, Focus On Excellence is designed to be interactive and engaging. Webb believes that “being in the room for two or three days with smart people who are sharing and over drinks or dinner... can only help people at this time.” The summit’s format, focusing on facilitators and interactive sessions rather than didactic presentations, ensures that attendees leave with practical insights and actionable plans.

We gratefully acknowledge our Focus On Excellence supporting partners: Audience Town; Boise Cascade; Builder Advisor Group; Constellation HomeBuilding Systems; New Home Star; and Westwood Insurance Agency.

A Call to Action for Homebuilding Leaders

Webb’s conviction is clear: Attending this summit is not just beneficial; it’s imperative.

If I were running a company today, I would be so focused on growing leaders... I'd want that next generation pushing forward, challenging old ideas.”

For homebuilding company presidents, CEOs, and owners, the opportunity to engage with industry visionaries like Webb and to collaborate with peers is invaluable.

As Webb poignantly puts it,

You want anybody who went to this to walk away saying, ‘Boy, that was interesting, exciting. I met new people, I heard things I hadn't thought about, and now I'm going to go back and make some changes. I'm going to look at things a little differently.’”