08/27/2012 10:10 am ET Updated Oct 27, 2012

Lance Armstrong's Lessons For Small Business

I am not sure what is more amazing -

• That Lance Armstrong was banned for life and is about to be stripped of his 7 Tour De France championships, or
• That Armstrong decided to drop all challenges against the allegations that he doped during his unprecedented run, or
• That his sponsor, Nike, decided to stick by Armstrong.

While all three developments are fairly remarkable, if you know anything about Nike, you know that, like Loretta Lynn, they stand by their man, and therein lay a good lesson for smaller businesses.

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