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 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 follow, you’d go exterior and play with your folks till darkish, however within the mornings, nobody else was awake. So, once we obtained dwelling from swim follow 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 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 search 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.
After I arrived, all I had was my automobile and what I may match within it. I had no job, and I used to be in credit card debt. I wanted to determine a approach to earn cash. Fortunately, I’ve at all times been centered on accounting and finance. My background is in enterprise. So, I wasn’t apprehensive about with the ability to discover a job, however I nonetheless wanted a approach to make ends meet within the brief 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 beloved realizing that my household was capable of take pleasure in watching me do it.
At the same time as I progressed in my finance profession, finally changing 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, and so they search for contestants domestically. So, it is not that aggressive to use; it is not 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 trade. Nonetheless, it was an extended 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. Day-after-day after my life associate Wes and I awoke, I might research, then go to work. On my lunch break, I might research extra. Later within the evenings at dwelling, I might research till I used to be falling asleep on the sofa.
I ended up successful $175,000 on the present. It gave me lots of financial freedom.
This aspect hustle offered different thrilling probabilities to make money through the years. I additionally appeared on the Dick Clark Pyramid Present, the place I received $22,500. I actually took the break day work, known as my brother after I received and stated, “Oh, that was a great day of labor.”
However this form 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 correct alternative introduced itself, I might contemplate taking it. I nonetheless love sport 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 might doubtless donate the cash.
My sport present aspect hustle undoubtedly helped form me as a business leader.
At first, I used to be afraid that I may not be taken critically as a seasoned govt 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 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 need to have fun these pursuits and aspect hustles; we need to encourage them.
At GumGum, we’re in 20 nations and have over 500 folks, so I’ve applied what I name “beginning lessons”: whoever began in Q1 of this yr can be within the Q1 2025 beginning class. And I ask them lots of questions. What are some folks’s side hustles? What are they focused on? It is superb to observe everybody mild 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 assist 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 threat all of it and go along with the child’s reply. If the child’s reply was right, I may have received $300,000, but when it have been flawed, 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 saved the $175,000.
Because it turned out, the child’s reply was proper, so I might have received $300,000. Nevertheless it was nonetheless an necessary 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. In the long run, I used to be fully high-quality with not successful extra with a view to defend what I already had. It is advisable to 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 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 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 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 features of my life. It reaffirmed what actually issues.
On the subject of enterprise, essentially the most profitable leaders are going to be those who can go very deep in humanizing us and themselves. I attempt to steer clear of encouraging leaders to be “authentic” as a result of the other of that’s “inauthentic,” and I do not assume folks attempt to present up inauthentically. They’re simply making an attempt 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 subject, the final word purpose is connecting with somebody deeply on an emotional stage or a wants stage. One of the best leaders want to point out up ready to do this each day.
