This as-told-to story is predicated on a dialog with GumGum Advertising CEO Phil Schraeder, who’s had a profitable side hustle showing as a contestant on recreation reveals. The piece has been edited for size and readability.
I am initially from a small city exterior of Chicago. My brother, sister and I have been on the swim workforce within the summers, which meant early 6 a.m. mornings. This was again within the ’80s, the place after swim observe, you’d go exterior and play with your mates till darkish, however within the mornings, nobody else was awake. So, once we received house from swim observe round 7:30 a.m., my mother would make us breakfast and placed on the TV — and my siblings and I’d watch game shows.
I grew to become fixated on these game shows, ones like The Price Is Right and Sale of the Century, and I would play them with my siblings. I am tremendous aggressive. I really like trivia and successful prizes.
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Quick ahead to after I graduated from faculty: I labored in Chicago for a short while earlier than deciding that I wanted to seek out myself. I needed to return out of the closet. I felt very held again from my authentic self. I needed a change, so I moved with a buddy to Los Angeles.
Once I arrived, all I had was my automotive and what I might match within it. I had no job, and I used to be in credit card debt. I wanted to determine a strategy to earn cash. Fortunately, I’ve at all times been targeted on accounting and finance. My background is in enterprise. So, I wasn’t apprehensive about having the ability to discover a job, however I nonetheless wanted a strategy to make ends meet within the quick time period.
That is after I began a enjoyable and distinctive side hustle: competing on recreation reveals. I ended up occurring The Worth Is Proper with Bob Barker — and received. I walked away with $900 in money, an amusement park popcorn cart and a grandfather clock. I used to be like, Wow, that is unbelievable. Not solely did I really like the expertise, however I used to be additionally dwelling out my childhood dream. I additionally beloved understanding that my household was in a position to get pleasure from watching me do it.
Whilst I progressed in my finance profession, in the end turning into a VP, I continued with the side hustle and saved a pulse on recreation present alternatives. As a result of Los Angeles is the leisure capital of the world, loads of first-time recreation reveals have their begin there, and so they search for contestants domestically. So, it is not that aggressive to use; it is not a nationwide search.
Once I heard concerning the new present Are You Smarter Than a fifth Grader?, I knew I needed to use. And, being a 29-year-old finance and enterprise accounting skilled from Chicago, I offered a possibility for them to check out a contestant who wasn’t within the leisure business. Nonetheless, it was a protracted audition course of. However I used to be invited on the present and given about 10 days to organize.
I wasn’t going to squander the prospect. I went to the youngsters’ homeschool retailer, and I purchased all of the third, fourth and fifth-grade books. I purchased world geography. I purchased measurements. I purchased flashcards of the presidents. Day-after-day after my life associate Wes and I awakened, I’d examine, then go to work. On my lunch break, I’d examine extra. Later within the evenings at house, I would examine till I used to be falling asleep on the sofa.
I ended up successful $175,000 on the present. It gave me loads of financial freedom.
This facet hustle offered different thrilling possibilities to make money over time. I additionally appeared on the Dick Clark Pyramid Present, the place I received $22,500. I actually took the time off work, referred to as my brother after I received and mentioned, “Oh, that was a very good day of labor.”
However this form of facet hustle comes with some limitations, too. You may solely go on so many game shows over the course of 10 years. Now, if the fitting alternative introduced itself, I would take into account taking it. I nonetheless love recreation reveals and respect that they helped set me up financially, however at this level in my life, I am in a unique scenario, so if I have been to look on one and win, I would probably donate the cash.
My recreation present facet hustle undoubtedly helped form me as a business leader.
To start with, I used to be afraid that I may not be taken critically as a seasoned government enterprise skilled in finance as a result of I loved competing on recreation reveals. However these have been my very own concepts about societal expectations and being boxed in, and it truly helped me notice that as a CEO and chief myself, I do not need anybody to really feel that their pursuits or side hustles negatively affect how they’re perceived professionally. We wish to rejoice these pursuits and facet hustles; we wish to encourage them.
At GumGum, we’re in 20 nations and have over 500 individuals, so I’ve carried out what I name “beginning lessons”: whoever began in Q1 of this yr could be within the Q1 2025 beginning class. And I ask them loads of questions. What are some individuals’s side hustles? What are they eager about? It is superb to observe everybody gentle up. There are DJs, macrame crafters, influencers and opera singers. Then, I take into consideration how we are able to translate these passions into our tradition and encourage and help one another in the neighborhood.
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From my expertise on Are You Smarter Than a fifth Grader? particularly, I discovered the worth of listening to yourself and following that intuition. I used to be in a scenario the place I used to be not sure of the reply and needed to resolve if I needed to danger all of it and go together with the child’s reply. If the child’s reply was right, I might have received $300,000, but when it have been fallacious, I’d have dropped right down to $25,000. Because the child wasn’t sure concerning the reply, I caught with my very own and saved the $175,000.
Because it turned out, the child’s reply was proper, so I’d have received $300,000. However it was nonetheless an vital lesson in listening to myself — as a result of though it will have felt nice to win $300,000, it will have felt far worse to lose $150,000. Ultimately, I used to be fully advantageous with not successful extra to be able to defend what I already had. It’s essential to stay true to what works for you and what you’re comfy with. Do not take into consideration what others may need or do, after which evaluate your self.
My recreation present facet hustle additionally taught me loads about my private motivations — and the way these values can translate to management.
On Are You Smarter Than fifth Grader?, I obtained a shock video message from my mother, who’s an educator and my fifth-grade trainer. I get emotional on the present as a result of my mother’s wishing me good luck. That second made me notice that, sure, that is tremendous enjoyable, however no matter that is, it is nothing in comparison with how fortunate I’m with the opposite elements of my life. It reaffirmed what actually issues.
Relating to enterprise, essentially the most profitable leaders are going to be those who can go very deep in humanizing us and themselves. I attempt to keep away from encouraging leaders to be “authentic” as a result of the alternative of that’s “inauthentic,” and I do not suppose individuals attempt to present up inauthentically. They’re simply attempting to be extra clear.
In order that’s my one massive push, particularly because it pertains to the advertising industry: For those who’re a pacesetter on this discipline, the last word objective is connecting with somebody deeply on an emotional stage or a wants stage. The very best leaders want to indicate up ready to try this every single day.
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