Causes of Drought
As I write this many parts of Britain are in drought conditions and yet it has been raining very hard for many days. Rivers are at full capacity with many floods and people have been killed by floodwaters. Yet I and the rest of Britain are reliably informed that there is still a drought. It reminded me of the poem “The Rime of The Ancient Mariner” by Samuel Taylor Coleridge written in 1797/8 with the immortal lines:
Water, water, every where,
Nor any drop to drink
The causes of drought are not always understood except that there is not enough rain to quench the thirst of the land and life on it. However this has gotten me thinking about a different king of drought, one that relates to business.
Causes of Drought in Business
Nearly all businesses will at some time or another face a drought. They will find business slowing down or even in some cases virtually stopping. It may be that whilst they are in a drought it is symbolically raining and other businesses appear to be doing well. What are the causes of drought in business situations like this?
We are always hearing the R word right now – yes Recession. However whilst we are in many countries of the world in a recession there is still plenty of business to be won. Many companies are still making good profits and have adjusted their business model so that they can be successful. For those businesses that are struggling it may not be due to a lack of business being available but more the fact that they are not doing things in the right way to capture it.
It will always be true that certain things made will become obsolete and it’s very important for businesses that produce or sell goods to move with the times. Is there a market anymore for black and whites TV.s? I haven’t checked but if there is it must be a fairly small one. TV manufacturers had to move with new technology and the choice of consumers. Failing to do so would have meant certain failure. From this one example we can see that the causes of a drought in business could be self inflicted.
Every business needs to constantly adjust and develop new ways of doing business. Social Media for example has stormed onto the scene in recent times and many businesses have failed to use it properly and find ways to grow their brand and customer base. Such failure has been a contributing factor to the cause of drought in their business.
Overcoming Causes of Drought
Overcoming the causes of drought in business can be difficult or sometimes relatively easy. With careful planning and adapting to changes in the market place more business can be found. Changing the way people think is often the hardest part. There is the “we have always done things this way before” mentality to overcome. That is not easy.
Whether your business is going through a period of feast or famine, now is the time to take a serious look and make sure that you are prepared to tackle the causes of drought to make your business successful.