People who say yes is something Chip Gaines loves. He writes in his new memoir that people who say yes to life, hard work, and risk are also those who aren't. He knows how to say no. He and his wife once ran a real estate company in Texas and then became stars of the show Fixer Upper, but they burned out and declined to continue. Instead, they focused on building their network with the aim of creating jobs and opportunity in the area. They have a shopping district, a regional real estate company, vacation rentals, product partnerships with Target and others under the brand name Magnolia, and will debut a TV network called Magnolia Network later in 2021.
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In this conversation, Chip explains how he built his personal network and how it became a guiding force as he evolved as anentrepreneur.
James Devaney is credited with the image.
Building a network is described in your book as a lot of hard work. Great networks require work. What does that mean for you?
My life's most complicated struggle has been summarized by the thought that if you don't sweat, if you don't physically feel exhausted, it's not work. I am a person who works in the trades. I had a hard time producing enough income to support my family when I worked hard, because I toiled in the dirt. I would go home and have a real identity crisis after this television show and other opportunities that exceeded my expectations. I wondered why my hands weren't blistered. Why am I not bleeding? Why is my back not throbbing? I did not work today. I would do some random chore with farm animals at night. I was overwhelmed by the reality that I have a full-time job that doesn't require a lot of sweat equity and I was getting less and less sleep.
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I am 46 years old. I felt like I was a late bloomer, but I feel like I am in the prime of my life. I thought I would have felt this type of success in my 20s. I feel confident in my network because I have the same amount of sweat equity I built before. I wouldn't be where I am, or who I am, if it weren't for the countless hours I spent networking and doing other things for myself.
You have to be open to changing your idea of work and value to other people. How did you make that change?
I have not solved that puzzle. I feel unfulfilled when I don't do backbreaking manual labor. I have a weird fear of failure mixed into the equation. I think the world is going to find us out in a minute, and then it is over. I work to build up walls to defend ourselves against that.
Building the network felt like a valuable work. I mean a network of support, where you think about sending the guy over if you don't like him, and it's like "Red rover, red rover, send the guy over." You won't break through my line.
You talked about feeling like an imposter. In your book, you talk about trying on a lot of different identities as a kid. I wonder if you see impostor syndrome as an asset now that it sounds constructive. It pushes you to stay ahead.
Absolutely, 100 percent! I have a lot of regrets. I wanted to be everything for everyone. I didn't want to let anyone down. Fast-forward a few years and I am a man of faith, and I have inadvertently developed an understanding of many different groups of people. I have the ability to relate to someone under different circumstances than myself, even if I can't say that I've walked a mile in their shoes.
Because you tried so many different identities?
Yeah. I landed in this place with confidence.
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I think many people can relate to the evolution you describe, where a kid who was expected to succeed early is now a late bloomer. Are you happy that success came later?
Absolutely. If this had happened early, I would have been terrible. Humility had entered the equation when it happened. We had been on the verge of filing for bankruptcy multiple times in our careers. I had been through a lot.
We now know that wherever we are heading, it is not about money. My goal is not to have a billion or a hundred million or 20 million, but to do the most good. The poverty rate in Waco, Texas is disproportionate to the rest of the country. I don't care what that means as it relates to me being on the Forbes 100 list or something, and that isn't going to stand on our watch.
Most people were like, "We want you to do a show, and we're going to pay you a lot of money." Yes or no? We would tell the people that they didn't mean anything by it, but that it was not about money. They would laugh and say, "Yeah, they all say that." They would send us a bigger contract two weeks later with even more money than before. We were like, "It's not about the money."
It turns out that not caring about money is a good negotiating tactic.
That is a fact. It is hard to back out of a bluff once you have played it.
It is about the business for us. We want to have a network that is more than just us and our family. Hopefully, this community will impact the world at large.
The Stars of 'Fixer Upper' changed a Texas town.
I hope that we all take a moment to evaluate what we are doing here on planet Earth. If you are doing that in your 9-to-5 job, great. You are in the perfect place. You are doing the perfect thing for yourself and your family.
If you were told that was the thing to do, and you never questioned that source of information, then don't stay there a minute longer than you have to. There is a world that is free of strings and requirements.
