The next career step for subject matter experts may be business partner

Smart owners of small-to-medium sized enterprises know they can’t possibly have all the answers to their business challenges by themselves.

But a lot are troubled by the usual approach of ‘hire-someone-and-hope-they-stay’ or paying even more for specialist help.

There is another option that many business owners are looking into: bringing the right person into the business as a partner.

On the other side of the equation, many subject matter experts, people whose skills and expertise might be exactly the right shape for the gap in a particular business, could be ready for a change.

Workplace research from Gallup published in 2024 showed declining levels of satisfaction for employees, who are feeling less connected to their employer’s purpose than four years previously.

The result? A dismal 33% of U.S. employees felt engaged in their work, and a thumping two thirds of employees felt disengaged.

You read that right. Two thirds of U.S. employees feel disengaged from their current job. 

Now, becoming a business partner in a small-to-medium size business isn’t a career path many subject matter experts think of when plotting their next move. Most people tend to look for the next salaried role they can slot into, and maybe dream of a day when they can start a business of their own.

But the Gallup research shows a large pool of employees who are ready to find somewhere better to work right now. How could they be enticed out of their comfort zone to take on a role as a partner in a small-to-medium enterprise?

Connection to purpose

The Gallup survey showed that the most important missing factor for a substantial number of employees was connection to their employer’s purpose. Stepping into a business as a partner is possibly the single best way of providing that. No longer does an employee feel like they’re only as resource for someone else, at arm’s length from the business. Instead, they become part of the business, literally taking ownership of it. The business’s purpose is their purpose. This is a powerful motivating factor for people who are already experts at what they do, be that marketing, operations, management, finance or something else.

Ability to make decisions

An expert who steps into a business as a partner will typically be responsible for some aspect of the business’s day-to-day operations. They will be able to implement changes and improvements they think are important in that area, and have a say in the broader strategic direction of the business. That level of responsibility is, once again, an important non-financial driver for experts seeking job satisfaction,

A balance of risk and reward

We know that more than 20% of small businesses fail in their first year, and upwards of 50% in the first five years. Someone who has been building skills as an employee might feel comforted by contributing their skills in a domain they know well, with someone else to run the rest of the business. Riskier than being a salaried employee, sure, but less risky than striking out on their own. It’s the perfect solution for many.

Personal growth

Becoming a partner offers people the opportunity to develop leadership and management skills, and even broaden their expertise beyond their existing knowledge domains by learning about other aspects of a business.

Increased financial reward

Yes, some people will be seeking financial reward. As a partner they’ll expect to receive a share of the profits, which might be more lucrative than a regular salary. But as the Gallup survey shows, job satisfaction isn’t all about immediate financial rewards. Perhaps people might be interested in the long run view, happy to be rewarded if the business grows and succeeds with their help. Yes, there’s risk attached to that, but the sense of ownership it entails, again, might be the difference between any old job and a great job.

Connecting to the purpose of a business, feeling valued, contributing to decision-making and working towards something in which they have a stake, are powerful predictors of job satisfaction for people and for experts in particular, who have spent years developing their expertise and honing their skills. Ultimately, it is this opportunity to find greater job satisfaction that is going to make an expert in marketing, or finance, or management, or operations, bring their skills to a small business.

And it’s those skills which will encourage the business owner to accept them as a partner, recognizing that it’s what they need to help their business grow and succeed.

Bringing a new partner into a business is a great opportunity to solve problems on both sides, for experts and for business owners. It’s just a matter of finding the perfect match.