Profit isn't our last or least important principle, in fact, it makes everything else possible. However, we have found that if we put our people first, develop fantastic products, cultivate a process that makes home buying simple, and then take care of our community, profits are the natural result.
We have lived through the ups and downs of the market. We started as a land developer, but became a homebuilder because of the challenging market of the early 80's. We learned many invaluable lessons as we struggled to survive the cycle. We have learned to limit our leverage and to plan for the cycle. With a healthy balance sheet, the cycle becomes a window of great opportunity.
Building thousands upon thousands of homes for Utah families has created our brand. Ivory Homes represents excellent value without sacrificing quality or individuality.
Our dominance in Utah has strengthened our brand. This has helped us operate more efficiently, streamline costs and establish solid relationships with our partners. This has led to improved quality, reliability and access to resources.
We know what our customers want and we strive to give them the best value in the market.
We have been very disciplined in defining our geographic boundaries and focusing our attention within them. Certainly, there have been great opportunities in other markets outside Utah, but our focus is here.
Over many years we have cultivated a strong reputation in what the Utah Jazz considers their local market. Not until we feel we have fulfilled the demands in this market will we consider others.
We have always believed that the best home builders are local. As Utah's #1 homebuilder, we are in touch with our market. We have created strong relationships with the communities, suppliers, and customers for whom we build.
Most importantly however, our focus on this market means we are entirely committed to the long-term growth and success of Utah and will continue to give back to the community in order to support that success.
Coming Full Circle
We have the right principles and we understand their value. Now it's up to us to correct our mistakes, recognize our weaknesses, and tackle any challenges that lie in our path to success. Stay true to these principles. We will definitely change, but our principles must remain solid.