'The Sword We Refuse to Die On'

Some people tell Chip and Joanna Gaines to play it safe, and to keep doing what made them famous in the first place. But they're ready to take more risks-because that's the entrepreneurial way.

- JASON FEIFER

How do you take risks and explore boundaries, while holding on to what makes you great?

Every entrepreneur must ask that question as they grow. And as two of the most recognizable names in the home goods and lifestyle TV world, it's something Chip and Joanna Gaines think about a lot. "The sword that we refuse to die on," says Chip, "is somebody forcing us to do something we don't really feel wonderful about, and we put it out there because it's 'what they want' or 'what we're supposed to do.'"

The couple became famous from their first TV show, a home renovation format called Fixer Upper, which helped launch a cable TV network (Magnolia)-along with a retail complex in their hometown of Waco, Texas, multiple homeware partnerships, a realty business, and more. Then, last fall, they raised eyebrows by launching competition shows on Max about...roller skating (Roller Jam), rodents (Human vs. Hamster), and singing (Second Chance Stage)?!

To them, the expansion made sense-because like all great entrepreneurs, they've defined a mission for themselves, and that mission gives them room to experiment. Here, they explain how they've done it, and how they've learned to take larger risks together.

When I saw your new Max shows, I immediately wondered: How did you draw the line between your past work and this? You guys have been so thoughtful about the expansion of Magnolia, so there must be a logic to it.

CHIP: Jo and I are very adamant that what got us here was a little bit of thought and strategy-but what we loved was, it was risky. Now, Jo and I are looking back on these two decades going, "What is it about this experience that we want more of?"