Smaller companies do not tend to analyze their financial data as a way of determining strategy. Many startups also do not have an adequate financial model.
Yet the Financial Model is absolutely vital for understanding and keeping track on how you are making money, and whether your business is profitable (or simply turning over money). Startups and SMEs often fail because of adequate lack of financial controls.
In partnership with your financial director, I work with different people in your organization to obtain accurate financial information and help to prepare working budgets and forecasts. The financial model needs to be kept up to date on a quarterly basis, and I help to implement mechanisms to do so.
Using the financial model as a tool, one can then examine current business strategies and consider perhaps more profitable and sustainable alternatives.
Before spending time at the Business & Marketing Strategy Retreat, I recommend developing the Financial Model first.
It will then help to have informed discussions about which products/services are actually profitable and who are worthwhile customers. Turnover without profits can sometimes be important for cash flow and creditworthiness, but the focus on the company should be on profitability if you are to remain in business in the long term!