Individualism is a key element of the entrepreneurial mindset.

When we
define the term individualism, it means that you need less support or
approval from others. You may place a very high value on independence,
freedom, and control. There may be a willingness, even a preference, to go
against the norm. High individualism is associated with an emphasis on
individual initiative and a high need for achievement. 

In summary, individualism and collectivism were historically viewed as

exclusive categories, and people were believed to be one or the other. What
we have realized as of late is that most people have a combination of both.
While they may have a “we” identity and they are concerned about their
group, they may preface their individual goals to those of others. They may
have an individual emphasis in their decision making, but they still believe
that reciprocity and sharing with the group is valuable.

Individualism and collectivism are relevant to your entrepreneurial success.

Entrepreneurs tend to have a higher level of individualism, but too much
may be detrimental. We do not benefit from entirely lacking this collectivism
aspect. Once you understand your preferences between individualism and
collectivism, you can strive towards developing a balance.