Trump’s tariffs are shaking up the economy – but what does it mean for consultants?
The economic turbulence we’re seeing today isn’t unusual.
In fact, it happens roughly every 7 to 8 years or so.
I launched my strategic planning consultancy in 2009 – right in the heart of the Great Recession.
And again, in 2019, just before the pandemic hit, I started a sales and marketing coaching business.
Both businesses thrived – even amid widespread economic uncertainty.
Here’s my observation:
Periods of economic change aren’t just downturns; they’re opportunities.
But they’re not for everyone. It takes a keen eye, strategic insight and calculated risk-taking to win.
With recent tariffs shaking up North American markets, many businesses are grappling with uncertainty. Some sectors, like services, might remain largely unaffected – unless their clients are directly impacted by tariffs. However, sectors such as manufacturing, retail, etc. are experiencing direct pressures.
While I don’t know whether these tariffs represent short-term disruptions or a longer-term economic shift, one thing is certain: if tariffs persist, organizations will begin rethinking their strategies significantly.
Even though some areas of consulting might slow down, new opportunities can emerge. Economic shifts often generate unexpected areas of growth, especially for consultants who know how to pivot effectively.
Here are some examples of potential consulting opportunities (among many others):
✅ 1. Supply Chain Reconfiguration – Companies need experts to help shift sourcing from affected countries (like China) to local or alternative international suppliers.
✅ 2. Workforce Planning & HR Consulting – Firms navigating tariff impacts may require guidance in workforce restructuring, talent acquisition, and retention strategies.
✅ 3. AI & Automation Consulting – Businesses can invest in automation to offset rising costs from tariffs – creating a demand for AI and tech transformation.
✅ 4. Fractional CFO & Pricing Strategy Consulting – Companies facing higher costs due to tariffs can benefit from fractional CFOs who strategically manage finances and implement effective pricing strategies.
✅ 5. IT Strategy Consulting – Companies reshaping their supply chains and operations due to tariffs can benefit from relevant IT infrastructure and digital strategies to support these changes.
While tariffs create headlines and anxiety, they also unlock unique consulting opportunities.
The key?
⭐ Understanding where your expertise fits into the shifting market.
✍ Have you thought about how your consulting business can leverage these economic shifts?
Ready to add $100k-$500k revenue to your consulting business in 12 months or less without burning out? Schedule a call and let me show you how.
Image credit: Dalle-3
