In this review of the psychology of entrepreneurship, we first present meta-analytical data showing that aspects of personality such as (overall) self-efficacy and the need for achievement, as well as entrepreneurial orientation, are closely related to entrepreneurship (business creation and business success). We then discuss the constructs that have been developed in entrepreneurship research, such as entrepreneurship vigilance, business planning, financial capital as resources, and entrepreneurial orientation, and how they can be better understood if one takes a psychological perspective. Next, we will look at how traditional psychological constructs are used in entrepreneurship and how this can improve our knowledge of industrial and organizational psychology (for example, in terms of knowledge, practical intelligence, cognitive biases, goals and visions, personal initiative, passion, and both positive and negative affect). Finally, we provide a General framework useful for the psychology of entrepreneurship, and implications for future research.