The potential of parent training and professional development programs for improving early childhood experiences and later outcomes is well established. Yet traditional models of training and support, which largely consist of providing information to parents and teachers, have not met the needs of caregivers who experience the greatest levels of adversity. In this article, we describe the challenges faced by low‐income parents and nonparental caregivers, review traditional theoretical models used in parenting and professional development programs, and discuss a new approach focusing on building caregivers’ self‐regulation and executive function skills. We review innovative program efforts focused on family goal setting, caregiver stress reduction, and reducing barriers that impede caregivers’ core capabilities. Although there is still much to learn about these approaches, we conclude that addressing self‐regulation and executive function in caregivers is worthy of more theoretical and empirical study.