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 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 outdoors and play with your pals till darkish, however within the mornings, nobody else was awake. So, after we acquired house 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 like trivia and profitable prizes.
Associated: ‘Jeopardy!’ Champion Buzzy Cohen Reveals 5 Surprising Parts of the Game Show That You Don’t See on TV
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 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 option 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 with the ability to discover a job, however I nonetheless wanted a option to make ends meet within the brief time period.
That is after I began a enjoyable and distinctive side hustle: competing on sport reveals. I ended up happening The Worth Is Proper with Bob Barker — and gained. 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 like the expertise, however I used to be additionally dwelling out my childhood dream. I additionally cherished figuring out that my household was in a position to take pleasure in watching me do it.
Whilst I progressed in my finance profession, finally turning 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, lots of first-time sport reveals have their begin there, they usually search for contestants regionally. 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 trade. Nonetheless, it was an extended 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 possibility. I went to the children’ 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. Every single day after my life accomplice Wes and I awoke, I might research, then go to work. On my lunch break, I might research extra. Later within the evenings at house, I might 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 facet hustle offered different thrilling probabilities to make money over time. I additionally appeared on the Dick Clark Pyramid Present, the place I gained $22,500. I actually took the break day work, known as my brother after I gained and stated, “Oh, that was a very good day of labor.”
However this kind 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 might think about 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 distinct scenario, so if I had been to seem on one and win, I might probably donate the cash.
My sport 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 severely 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 need to have fun these pursuits and facet 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 courses”: 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 folks’s side hustles? What are they serious 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 will translate these passions into our tradition and encourage and help one another in the neighborhood.
Associated: How to Balance a Full-Time Job With a Side Hustle
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 threat all of it and go together with the child’s reply. If the child’s reply was right, I might have gained $300,000, but when it had been flawed, I might have dropped right down to $25,000. Because the 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 gained $300,000. However 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 utterly tremendous with not profitable extra in an effort to shield what I already had. It is advisable 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 facet hustle additionally taught me rather a lot 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 features of my life. It reaffirmed what actually issues.
In the case 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 suppose folks attempt to present up inauthentically. They’re simply making an attempt to be extra clear.
In order that’s my one huge push, particularly because it pertains to the advertising industry: In the event you’re a frontrunner on this discipline, the last word aim is connecting with somebody deeply on an emotional stage or a wants stage. The perfect leaders want to point out up ready to try this every single day.
