10 Reasons to Start a Psychology Business

Alan Bradshaw's Bio

Alan Bradshaw, is the Founder & CEO of the Psychology Business Incubator (PBI), a community for those interested and involved in psychology-based business. He is our 'Chief Community Builder and Connection Enabler'. Alan's professional psychology background is in the area of managing stress and mental health risks at work, and he has developed tools and training to help with this. Separately, he is a Deputy Chair and a Director of William Simpsons, a social care organisation and charity in Central Scotland that provides residential care and respite for people with a long-term mental health diagnosis linked to substance misuse. 

Alan Bradshaw's Blog

Psychology, the study of mind and behaviour, looks at the factors that influence how we think, feel and act. It answers big questions about what makes us us. Here are 10 compelling reasons why it's just the best business to be in:

1. People are interested in what makes them tick.

I bet you're fascinated in YOU and what makes you tick. I know I am! Why on earth did I do that stupid thing? Repeatedly! Why do my relationships never work out? Why do I feel this way? I don't know about you, but I want to understand. I want answers and solutions, even if they're not quick fixes. Others will too and be prepared to pay for that.

2. People and businesses are interested in what makes OTHERS tick.

Why do other people do what they do? Why to some people see the bright side and some the dark. Why do some managers become a nightmare when they are under stress, while others remain stable and consistent? Why do some people love and care for dogs while others neglect and abandon them? What is it about people that leads them to buy the stuff they do? (Businesses are very interested in that one!) Other people are endlessly fascinating. Multiple business applications are related to these kinds of questions.

3. Psychology makes a difference, so you will too.

Sure, business is about making money, but psychology-based business is also about making a difference. It's about helping people feel better, achieve more, make better decisions, have more fulfilling relationships and a better quality of (working) life. And the more successful you are in this type of business, the more you can help. That's a massive motivation for me, and was my main rationale for setting up the Psychology Business Incubator community, to help people like our members start, and GROW, profitable and sustainable businesses. That way, I know that many more people will be helped.

4. Psychology helps organisations in multiple ways, with a proven ROI.

Organisations need help too, with all sorts of eye-wateringly expensive problems, like stress-related absence, presenteeism, recruitment problems and retaining talent, dealing with problematic manager behaviours and poor business performance. What's more, psychology offers solutions which are cost-effective and have a proven return-on-investment!

5. Psychology has multiple, profitable niches.

This for me is one of the best marketing reasons to start a psychology business. Psychology is a vast and diverse subject, and that means it has countless profitable niche markets contained within it! In keyword research terms, we're talking 'long tail' keywords where many people are searching but fewer people are providing solutions. Keyword research is easy. and in many cases, free. Find a niche that suits what you know and can offer, then design and provide services to fit, and you're off and running!

6. Psychology has so many proven business models.

There are numerous and diverse psychology business models which can work profitably. You can see that across our community! We have writers, coaches, trainers, psychometricians, trainers, online therapists, podcasters, researchers and negotiators all with successful businesses. There isn’t just one way to do it well. You can find a business model that suits you and plays to your strengths. Sometimes you won't know straight away which is the best model for your business and that's OK. Try things out, test things, and keep doing that. What feels easy and just 'right?' What 'flows' when you do it. What attracts customers or clients with little, or at least less, effort? That's probably a good business model for you.

7. You can use psychology to improve marketing and boost sales.

Psychology isn't just a great business to be in, you can also USE it in your marketing and to generate sales. In business, you need to influence people or organisations to work with you and/or to buy services or products. But we know about this stuff, right? So we can ethically use those evidence-based 'weapons' of influence like reciprocity, commitments, likeability and authority (credibility) to our business advantage. (Actually, I'm amazed at how often psychologists don't use psychology in their marketing!) Cialdini's book Influence: The Science of Persuasion is a must-read in this respect.

8. Psychology provides never-ending content for marketing

Psychology, and psychological research, generates stories and news in many places, on multiple channels, all over the world. You can easily find content that fits your niche and lots of it - fascinating stuff that your followers will love. News aggregators like feedly are brilliant for this. People love psychology stories for all of the reasons above. Gather the best ones and share them - you could write newsletters, post on LinkedIn , share on Meta, talk about them on a YouTube channel, create a podcast - there are so many possibilities!

9. Psychological solutions are evidence-based.

This is maybe a bit more boring but nonetheless important. The stuff we do is evidence-based and that matters. We can use, and point to, the reliability and validity of psychological research to our advantage. Some people will believe anything, I know, but many people want credible sources. Good, solid evidence is influential. It helps you sell.

10.You'll love what you do, and that shows!

My last one and it's a biggy! If you love psychology and in particularly your psychology niche, that will show. It will shine out of you. You'll be motivated and enthusiastic. You'll exude positive emotions when you talk about what you do. That's highly attractive to colleagues, potential partners and to whoever you're selling to – so you'll sell more! There's more to it than that though. The love of what you do is sustaining when things aren't going so well. It'll make you more resilient. You won't give up. You'll persist. Starting and growing a business isn't easy. Not everything you try will work. You'll make mistakes, especially at the beginning when you're finding your feet. But you'll get through that sticky patch. You'll grow and be able to show the world your business; a business which you created. Which has real and growing value. How good will that feel!? 

Happy Psychology Business Development!

PBI Take

Psychology is a powerful foundation for building meaningful, profitable, and sustainable businesses. From understanding human behaviour to solving real organisational challenges, psychology offers endless opportunities to create impact while doing work you genuinely care about. If you’re curious about people, motivated to make a difference, and willing to experiment, learn, and grow, psychology-based business might just be the one for you.