You hear it all the time. “Turn your side hustle into a real business.” People attempt to launch their special skills, love for an industry, or their passion into a business. But annually, over 70 percent of businesses fail due to either a lack of funding or an understanding of what it takes to maintain and grow a business.
Erick Parker, the President of Global Business Consultants, understands the problems new companies face and has a solution.
“We help companies use their profit and loss statement as a tool to better manage their business so they can increase their cash flow,” Parker explained. “A lot of companies we encounter don’t have a good understanding of what their profit margin is, or what they are really making so they can make decisions to grow their business.”
The John Adams High School graduate started Global Business Consultants after he spent over thirty years owning and running various businesses himself. Over that period, Parker has dealt with just about every growth pain a company can experience and knew he could help others overcome their issues when starting a business.
“We come in and evaluate where gaps might exist for a company and provide solutions to help them become whole so they can thrive and grow the right way,” Parker stated.
Global Business Consultants helps companies with:
· Partnership agreements
· Payroll issues
· Financing issues
· Leases and rents
· Bookkeeping
· Legal issues
· Process improvement
Parker’s company recently helped a company renegotiate their lease because they were overpaying their rent and knew if something was not done, that they would be out of business.
“When we met with the company and finished our free assessment, we realized that they needed to adjust their spending to realize a profit. If they didn’t, they were going to be in debt, and out of business, if something didn’t change. So, we went to work, and worked with their landlord to reduce the rent,” Parker said.
It can be said that you need several skill sets to run a business. Those who run small businesses must be efficient at sales, billing, recordkeeping, social media, IT, and legal, and be excellent at human resources.
And today, picking the right employees can make or break a business. Parker understands that and helps companies determine what kind of talent they should want and seek out.
The problem most companies run into is that they don’t know when to reach out to get help from an expert. Minority business owners especially need to understand where the gaps are and fill them as quickly as possible.
Because there are so many different factors involved in running a successful business, business owners need to be aware that there are options out there that can help them determine what is missing and help them fill those holes with sound advice and options.
Global Business Consultants can be hired for a month, a year, or on a permanent basis depending on what is needed at the time. They offer free consulting sessions with companies that want to understand where there is a deficiency.
Parker, who studied at the University of Akron, works with companies that earn $100,000 to 5 million.
The company will also help create the right business plan so anyone interested in getting a business loan can apply for one.
Parker’s passion is helping people fulfill their goal of taking their talent and making money with it.
“I love what I do, and I love helping people,” Parker said. “With me being in business for so long myself, I know what it feels like to get sued. I understand what it’s like to have to produce payroll every other week. I know how hard it is to find people who are a good fit for my business.”
That kind of experience is used to help other people avoid the kinds of mistakes that Parker made during his career as a business owner.
“People don’t have to suffer from bad business decisions, because I have done it for them,” Parker explained. “We can see around the corner, and a lot of times help our clients avoid making a potentially bad decision that could negatively affect their business.”
Anyone who has a business needs to know that companies, like Global Business Consultants, are out there to help fill the gaps. A person’s side hustle can become a winning business with the right consulting.
Erick Parker and Global Business Consultants offer free discovery sessions at https://globalconsultants.us/contact, or you can call 330-414-4145 to schedule an appointment. ●
