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Oct 28
2008

Article: Stay Out of the Fetal Position

Posted by: George H Bergmark in Articles

On October 16, 2008, I attended the Buckhead Business Association Quarterly Luncheon. 

The meeting was entitled "Banking in Buckhead: Solid Advice in Turbulent Times"

The panel discussion was moderated by Joe Brannen, President of the Georgia Bankers Association with Marvin Cosgray of Buckhead Community Bank, Charlie Crawford of the Private Bank of Buckhead, Pam Hubby of Georgian Bank and Doug Williams of Atlantic Capital Bank.

All these bankers emphasized that they have money to lend and want to do business.  They did not participate in the sub-prime mess.  As they all agreed, it is once again popular to be a conservative business banker.

The major take aways from the discussion are:

  1. Talk with your banker.
  2. Stay focused on your business. "Stay out of the Fetal Position"
  3. Don't rely on others to understand your business and finances
  4. Keep your banker informed of how your business is doing.  Bankers really don't like surprises.
  5. Above all else, do not make drastic decisions...

 I met with one of the Presidents along with his Executive Vice President last Friday, and talked with them about B2B CFO and our Atlanta Partners.  Our target market lines up with theirs.

B2B CFO is just what their clients and prospective clients need to help them work through this economic environment.  We can help our clients continue to grow their business while following the 5 points of advice above. 

Contact me at GBergmark@b2bcfo.com

LinkedIn Profile:  http://www.linkedin.com/in/parttimecfo

 

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