Over the past few weeks, the US economy has suffered about 24 billion dollars loss in GDP as a result of a prolonged battle over the Affordable Care Act otherwise known as Obamacare and the subsequent threat of government shutdown during the political negotiations to extend the county’s debt limit.  While these we big issues affecting major sectors of the economy, small businesses can learn some lessons for their own organizations.

Winning is not Always the Goal in Business

After the end of the shutdown and threat of default, President declared, “there were no winners in this” government shutdown.  In business, sometimes, winning is not always the goal for achieving corporate objectives and fulfilling organizational vision.  Small businesses should find ways to honor their commitments to customers, employees and other stakeholders without always demanding a winning outcome.

Never Negotiate Endlessly

One of the reasons why the impact on the economy was so devastating was the way the negotiations about the shutdown and eventual potential default dragged on till the eleventh hour when all parties were at the edge of a 2000 ft economic cliff.

In business, keeping customers, workers, and partners in an endless loop of negotiation cycles may erode confidence, chip away customer loyalty and negatively impact the bottom line.  As a small business, negotiate smart, fair and swift to keep your business moving profitably.

Be Ready to Compromise

We find that, lack of compromise on both side of the political aisle resulted in a prolonged and costly disagreement.  Every small business should know how to compromise for the sake of satisfying customers needs, enabling employee engagement and ensuring profitable deals. The word compromise should never be a bad word if you want your small business to succeed