We use a few main tools to track our data:
First, we use Cobot to manage our coworking space, and Cobot does provide us with some basic analytics. We export information about the number of members we have, and we’ve just begun to make use of their accounting codes to allow us more granular tracking of how our revenue breaks down.
Second, as I mentioned in the post, we hired an accountant this year, and we use a mix of Xero and Google Spreadsheets to keep track of our financials on a regular basis. Our accountant does his magic in Xero, and then once a month we dump the data in a Google Spreadsheet so we can talk about it. In this spreadsheet we track revenue, expenses, and much of the data you saw in my blog post. (I plan to share some of our Google Spreadsheets soon… stay tuned.)
I would love to create some sort of dashboard software that magically pulls all of this info together, but, alas, I don’t think it exists. For now, it’s a combination of some custom reporting from Xero and Cobot, some manual entry in a Google Spreadsheet, and a monthly meeting to make sense of it all.
Holler if you have additional questions. Happy to answer!
On Saturday, January 9, 2016 at 8:59:06 PM UTC-6, Tabari Brannon wrote:
Excellent read. One of the goals I have for 2016 is to track everything. I would be interested to see what systems you have in place to track all this data. Thanks!
On Friday, January 8, 2016 at 4:21:04 AM UTC-8, Matt D. wrote:
We just hit the 18-month mark, and we decided to take an honest look at how we’re doing. Turns out we’ve had some nice growth, but were still losing money.
We’ve laid it all out - data, financials and some honest analysis of what’s still gotdoing we’re in our coworking business/operations in order for us to find profitability - which we will! If you’re interested, please take a read:
Hope you find it useful. Let me know if I can answer any questions! Thanks!
-Matt @mattdudleytn, from The Skillery @theskillery