Celebrating Black History Month | William H. Parker, CTP
Parker Revenue Growth
February is Black History Month in the United States, the seeds for which were sown in February 1926. That’s when historian and educator Carter G. Woodson started Negro History Week to empower Black Americans and popularize knowledge of their achievements among the broader population.
Such efforts have been pivotal in raising awareness of the importance of inclusion and the contributions of Black Americans in the evolution of the nation. Despite recent progress evidenced in diversity, equity, and inclusion (DE&I) efforts, there is still much road to be traveled. TMA member William H. Parker, CTP, who has made his mark in the retail industry despite the obstacles he faced as a Black American, sat down with us to share the ups and downs he faced while breaking into the field.
Born in Pittsburgh—home of the six-time Super Bowl Campion Pittsburgh Steelers and five-time Stanley Cup Champion Penguins, he notes—Parker was a prized pupil with aspirations of becoming president of a large corporation and a philanthropist to help those least fortunate. He was an honor roll student and took advanced placement classes that allowed him to fulfill is high school requirements by the 11th grade and to enroll in junior college at the same time to study merchandising, retail, and business.
After completing his studies, Parker wanted to be part of “a lethal and elite fighting force,” so he joined the U.S. Marine Corps, where he served in roles that included military policeman and infantryman, to name a few. Parker is a rare breed as he finished high school and junior college simultaneously and later graduated from the State University of New York, Saratoga Springs, with a degree in business administration and economics. Thereafter, Parker set out to begin his career in retail.
Asked whether it was easy to break into the field he replied, “Hell no! The retail industry, particularly the fashion and designer segments, were difficult fields to be accepted in.” With options appearing to be slim, Parker became a member of the Black Retail Action Group, which helped him and other people of color advance in the retail and manufacturing industries. Despite facing racism and exclusion from top jobs, Parker gave his all, outworking and outsmarting his counterparts to finally be recognized as a top earner for his company.
“I overcame those challenges by remembering the Marine Corps motto ‘improvise, adapt, and overcome,’” Parker said. “Secondly, I developed the talent of fixing troubled businesses and eventually received larger responsibility and visibility positions in department stores, mass merchandising, and specialty stores.
“I rose from assistant buyer to president of a billion-dollar computer electronics company during my career. I was highly successful in turning around and restructuring undermanaged and underperforming businesses that improved revenue and profits and created value in the company or business.”
Parker has truly made a name for himself. He joined TMA 15 years ago and through the organization obtained his Certified Turnaround Professional certification, which helps him stand out as a specialist in his field. In 2005, he founded Tara Jayde Capital Partners, a mergers and acquisitions firm, and during the 2008-2009 financial crisis transitioned to Parker Revenue Growth Strategies to develop revenue growth, business restructuring, turnaround, and exit strategy planning for lower middle market companies with revenue of $10 million to $100 million.
“The most gratification I have been able to garner from working in the turnaround and retail/consumer products industry is to inspire other people of color (along with women and white people) to become successful in their respective fields. The other gratification factor comes from business owners and their partners when the threat of failure has passed and the owners are appreciative of my efforts in saving the company.”
Parker has restructured and developed business, financial, and operating plans for more than 30 companies during the past 18 years. He is proud to report that 90% of those clients have sustained themselves and prospered based on his role as chief revenue and restructuring officer.
Parker is a prime example of beating the odds and the importance of using your platform to help others. Asked if he any parting words, he replied, “We are still in the fight of our lives to preserve those hard-fought victories that are slowly being eviscerated in different legislatures and courts around the United States. There is a quote from Winston Churchill that I adhere to when dealing with difficult assignments and problems. ‘Success is not final, failure is not fatal: it is the courage to continue that counts.’”
As Parker continues his journey, may it light the way for other people of color interested in pursuing a career in the turnaround and restructuring industry.