Some scholars appeal to network positioning or personality traits when seeking to explain brokerage as a type of entrepreneurial behavior. However, evidence in support of these explanations is inconclusive. In contrast, this paper explores the psychological basis of brokerage by focusing on the influence of social cognitive self-regulation. In particular, the paper considers an important component of self-regulation termed regulatory focus. A series of propositions and model are derived in which regulatory focus moderates a persons connection to structural holes, perception of structural holes and brokerage behavior. We conclude by discussing the implications for future research and practice.