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 sport 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 staff 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 folks till darkish, however within the mornings, nobody else was awake. So, after we obtained 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 turned 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 profitable prizes.
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Quick ahead to after I graduated from school: I labored in Chicago for a short while earlier than deciding that I wanted to search out myself. I needed to come back out of the closet. I felt very held again from my authentic self. I needed a change, so I moved with a good friend to Los Angeles.
After 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 solution to earn cash. Fortunately, I’ve all the time been centered on accounting and finance. My background is in enterprise. So, I wasn’t frightened about with the ability to discover a job, however I nonetheless wanted a solution to make ends meet within the quick time period.
That is once I began a enjoyable and distinctive side hustle: competing on sport reveals. I ended up happening The Value 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 unimaginable. Not solely did I really like the expertise, however I used to be additionally residing out my childhood dream. I additionally cherished understanding that my household was capable of get pleasure from watching me do it.
At the same time as I progressed in my finance profession, finally turning into a VP, I continued with the side hustle and saved a pulse on sport present alternatives. As a result of Los Angeles is the leisure capital of the world, lots of first-time sport reveals have their begin there, they usually search for contestants domestically. So, it isn’t that aggressive to use; it isn’t a nationwide search.
After 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 chance 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 arrange.
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. On daily basis after my life associate Wes and I wakened, I’d research, then go to work. On my lunch break, I’d research extra. Later within the evenings at house, I would research till I used to be falling asleep on the sofa.
I ended up profitable $175,000 on the present. It gave me lots of financial freedom.
This aspect hustle offered different thrilling probabilities 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 day of labor.”
However this type of aspect hustle comes with some limitations, too. You possibly can solely go on so many game shows over the course of 10 years. Now, if the appropriate alternative introduced itself, I would take into account taking it. I nonetheless love sport reveals and recognize 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 possible donate the cash.
My sport present aspect hustle positively helped form me as a business leader.
To start with, I used to be afraid that I won’t be taken severely as a seasoned government enterprise skilled in finance as a result of I loved competing on sport 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 have a good time these pursuits and aspect hustles; we wish to encourage them.
At GumGum, we’re in 20 nations and have over 500 individuals, so I’ve applied what I name “beginning lessons”: whoever began in Q1 of this 12 months can be within the Q1 2025 beginning class. And I ask them lots of questions. What are some individuals’s side hustles? What are they occupied with? It is superb to look at everybody mild up. There are DJs, macrame crafters, influencers and opera singers. Then, I take into consideration how we will translate these passions into our tradition and encourage and help one another locally.
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From my expertise on Are You Smarter Than a fifth Grader? specifically, 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 uncertain 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 unsuitable, I’d have dropped all the way down to $25,000. For the reason that 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. Nevertheless it was nonetheless an necessary lesson in listening to myself — as a result of though it might have felt nice to win $300,000, it might have felt far worse to lose $150,000. Ultimately, I used to be fully advantageous with not profitable extra with the intention to shield what I already had. You should stay true to what works for you and what you might be comfy with. Do not take into consideration what others may need or do, after which evaluate your self.
My sport present aspect 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.
With regards to enterprise, probably 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 other of that’s “inauthentic,” and I do not assume 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: In the event you’re a pacesetter on this subject, the last word aim is connecting with somebody deeply on an emotional degree or a wants degree. The most effective leaders want to indicate up ready to try this day by day.
