In a large mixing bowl, combine the ground beef, breadcrumbs, Parmesan cheese, parsley, egg, garlic powder, salt, and pepper.

Shape the mixture into 1-inch meatballs.

Heat the olive oil in a skillet over medium heat. Add the meatballs and cook until browned on all sides, about 8-10 minutes.

Once browned, remove the meatballs from the skillet and set aside.

In the same skillet, add the beef broth and Worcestershire sauce; bring to a simmer, scraping up any browned bits from the bottom.

In a small bowl, mix the cornstarch with a little cold water to create a slurry. Stir this into the simmering broth to thicken the gravy.

Add the meatballs back into the skillet, ensuring they are well coated with gravy. Let them simmer together for another 10 minutes.

Before serving, taste the gravy and adjust the seasoning if necessary.

Transfer the meatballs and gravy to a serving dish and serve.