1st Global has developed a number of administrative tools to help with back office setup, record-keeping, licensing and compliance. One administrative tool we have developed measures the progress of each of the four areas of business development. The Practice Development Index™ is a Microsoft Excel worksheet that is set up for data entry responses to a series of questions about the firm's Awareness Creation System (marketing), Client Opportunity Conversion System (sales), Engagement Delivery System (operations) and Systems Management (administration). The responses are weighted and scored within a table, and a composite score is generated, which is representative of the overall level of systems and practice development of the firm. As the expertise of the partners increases, and systems are built and improved upon, the overall score will increase thus providing a measurable way to consistently track the progress of the firm. |
