Former CFO David Johnston was an experienced financial expert who founded dbj Consulting LLC in 2019. With over three decades of experience as a corporate CFO, he started his consulting firm to provide smaller emerging life sciences companies with access to fractional, part-time CFO services from an experienced professional. The majority of his clients have less than ten employees and operate virtually, making it challenging for them to afford a full-time CFO.
Johnston recognizes that having part-time C-level executives for emerging firms is a trend that benefits both the firms and the executives. By working with several firms as a fractional CFO, he can maintain a healthy work-life balance, prevent burnout, and remain productive in the long term. His consulting firm also provides him various experiences, keeping his interest fresh.
CFOs play a critical role in small emerging biotech companies by helping them build financial relationships, manage their resources, and provide financial planning advice. They provide a strong foundation and increased accountability in the business, allowing companies to hire an experienced part-time CFO for less than they would pay a full-time one.
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