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In recent years much research attention has focused on managers and entrepreneurs, but very few studies have compared the two. In the current exploratory study, 20 Israeli entrepreneurs (that are the focus of great curiosity but little research) were compared to 47 managers and to a control group of 33 aspiring entrepreneurs. They were interviewed regarding traits of their father, mother, and self. Findings revealed a number of similarities (a similar commitment) as well as differences (entrepreneurs' greater love of challenge) between the managers and the entrepreneurs. Entrepreneurs also described themselves as having a greater sense of significance in their work. The question why managers and entrepreneurs are who they are is answered within a psychoanalytic‐existential framework that focuses on the managers' positive identification with their father and better relationship with both parents as compared to the entrepreneurs' negative identification with father and greater identification with work. Implications for treatment are suggested.