As a real estate development firm, our company sells properties on an ongoing basis; each time a property is sold, several actions must take place to complete the transaction. The problem is, however, that there are so many steps involved in closing a sale that it is impossible to keep track of all of them. From remembering file storage, document signage, and the entire accounting process, it is crucial not to neglect any of these steps.
Different companies organize the steps in various ways. Originally at our firm, each person had a separate checklist, or just memorized all the steps. Many times, we would overlook a crucial step, and it would be left undone until the mistake was discovered later. Other times, the missing actions were never noticed at all.