This as-told-to story relies 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 outdoors of Chicago. My brother, sister and I had been on the swim group within the summers, which meant early 6 a.m. mornings. This was again within the ’80s, the place after swim observe, you’d go outdoors and play with your folks till darkish, however within the mornings, nobody else was awake. So, after we acquired 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 might 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 might play them with my siblings. I am tremendous aggressive. I 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 wished to return out of the closet. I felt very held again from my authentic self. I wished a change, so I moved with a pal to Los Angeles.
Once I arrived, all I had was my automobile and what I may match inside it. I had no job, and I used to be in credit card debt. I wanted to determine a method to earn cash. Fortunately, I’ve at all times been targeted on accounting and finance. My background is in enterprise. So, I wasn’t nervous about having the ability to discover a job, however I nonetheless wanted a method 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 like the expertise, however I used to be additionally dwelling out my childhood dream. I additionally liked figuring out that my household was capable of take pleasure in watching me do it.
Whilst I progressed in my finance profession, in the end changing into a VP, I continued with the side hustle and stored a pulse on sport present alternatives. As a result of Los Angeles is the leisure capital of the world, numerous first-time sport reveals have their begin there, and so they search for contestants regionally. 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 wished 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 trade. 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 possibility. 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. Each day after my life accomplice Wes and I awakened, I might examine, then go to work. On my lunch break, I might examine extra. Later within the evenings at house, I might examine till I used to be falling asleep on the sofa.
I ended up profitable $175,000 on the present. It gave me numerous financial freedom.
This aspect 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 day without work work, referred to as my brother after I received and stated, “Oh, that was a superb day of labor.”
However this type of aspect hustle comes with some limitations, too. You’ll be able to solely go on so many game shows over the course of 10 years. Now, if the precise alternative introduced itself, I might contemplate 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 distinct scenario, so if I had been to seem on one and win, I might doubtless donate the cash.
My sport present aspect hustle undoubtedly helped form me as a business leader.
To start with, I used to be afraid that I may not be taken significantly as a seasoned government enterprise skilled in finance as a result of I loved competing on sport reveals. However these had been my very own concepts about societal expectations and being boxed in, and it really helped me understand 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 could be within the Q1 2025 beginning class. And I ask them numerous questions. What are some individuals’s side hustles? What are they fascinated by? It is wonderful to look at 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 locally.
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From my expertise on Are You Smarter Than a fifth Grader? particularly, I realized 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 determine if I wished to threat all of it and go together with the child’s reply. If the child’s reply was appropriate, I may have received $300,000, but when it had been incorrect, I might 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 stored the $175,000.
Because it turned out, the child’s reply was proper, so I might have received $300,000. But it surely was nonetheless an vital 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. In the long run, I used to be utterly nice with not profitable extra with a view to defend what I already had. You’ll want 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 examine your self.
My sport present aspect hustle additionally taught me lots about my private motivations — and the way these values can translate to management.
On Are You Smarter Than fifth Grader?, I acquired a shock video message from my mother, who’s an educator and my fifth-grade instructor. I get emotional on the present as a result of my mother’s wishing me good luck. That second made me understand 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.
In relation 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 avoid encouraging leaders to be “authentic” as a result of the alternative 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 large push, particularly because it pertains to the advertising industry: For those who’re a frontrunner on this discipline, the final word aim is connecting with somebody deeply on an emotional degree or a wants degree. One of the best leaders want to indicate up ready to do this daily.
