The days of "build it and they will come" are gone, writes Mollie Carmichael, principal with John Burns Real Estate Consulting. Carmichael says smart builders have a well-defined process for assuring success. Here are her 7 steps to designing for profit: (1) Assess submarket health. Should you even build here? Is the economy healthy and are consumers confident? (2) Identify demographic shifts. Who lives here, and is household composition changing? What is the qualified buyer profile in each price range?