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FAQs

  
   


Jim Johnston presents financial information in a valuable way so we can quickly and easily see the information we need.

Steve Smith, Partner
Masthead Venture
Partners.

  
   

 

 

 

 

 

 

 

 

 

 

 

 

 

  


Frequently Asked Questions

When do I need a part-time CFO or controller?
Answering these six questions can help you assess your need for a part-time CFO or controller:

  • As company president, am I comfortable managing the financial function?
  • Does this financial role interfere significantly with uniquely presidential work?
  • Would the cost of Johnston Company (roughly the equivalent of your full-time bookkeeper) be sensible and bearable?
  • Does the company need better spending decisions, financial predictability and control?
  • Does the company have a business plan for the next 36 months?
  • Does the company need to obtain bank lending or venture capital financing?
  

What experience will Johnston Company bring to my company?
If it involves a growing company, Johnston Company has probably done it multiple times. In particular, we have obtained new bank loans and equity financing. We have written business plans, worked with angel and VC investors, steered companies through cash shortages and installed accounting systems. We have made the monitoring and understanding of financial performance part of the fabric of many companies. There is no substitute for the big picture view of the industry and savvy use of planning and controls.

Will Johnston Company consultants get up to speed quickly on a part-time schedule?
 Johnston Company consultants have come up to speed so many times that it's second nature. The adjustment process is made easier by the fact that we have done it successfully with so many companies and presidents.

What if we decide to change to a full-time person?
It is possible to change strategies - in a month or a year. Johnston Company will help you with the change. Navigating this transition smoothly is part of our role.

What are the costs?
We tailor a mix of controller and CFO time to meet your needs. We offer a flexible, cost-effective approach that varies for each client. There is no extra cost for benefits, vacation or sick time, or payroll taxes.

Is this risky or uncommon?
Unconventional, yes. Risky, no. It is much less risky than a typical full-time hire and has the great upside of all the experience, at less cost.