From Game Shows to CEO: Phil Schraeder’s Journey of Passion and Purpose
In the bustling world of advertising, where creativity meets strategy, Phil Schraeder stands out not just as the CEO of GumGum Advertising but also as a contestant who has turned his childhood passion for game shows into a successful side hustle. This as-told-to story captures Phil’s unique journey, revealing how his experiences on game shows have shaped his professional life and leadership style.
A Childhood Dream
Phil’s fascination with game shows began in his formative years, growing up in a small town outside of Chicago. Early mornings spent on the swim team meant that after practice, he and his siblings would gather around the television, eagerly watching shows like The Price Is Right and Sale of the Century. "I became fixated on those game shows," he recalls. "I’m super competitive. I love trivia and winning prizes." This early exposure ignited a passion that would later influence his career choices.
A Leap of Faith
After graduating from college, Phil felt the need for a change. He moved to Los Angeles, seeking to embrace his authentic self and leave behind the constraints he felt in Chicago. Arriving in a new city with only his car and a mountain of credit card debt, he needed a way to make ends meet. Drawing on his background in finance and accounting, he quickly found a job, but it was his side hustle—competing on game shows—that truly captured his imagination.
Winning Big
Phil’s first major game show experience came when he appeared on The Price Is Right with Bob Barker. "I walked away with $900 in cash, an amusement park popcorn cart, and a grandfather clock," he shares, still buzzing from the thrill of that victory. The experience was not just about the prizes; it was about fulfilling a childhood dream and sharing that joy with his family.
As he climbed the corporate ladder, eventually becoming a VP, Phil maintained his connection to game shows. Living in Los Angeles, he found that many new shows sought local contestants, making it easier to apply. When Are You Smarter Than a 5th Grader? was announced, Phil knew he had to try out. "I provided an opportunity for them to try out a contestant who wasn’t in the entertainment industry," he explains, highlighting his unique position.
The Preparation
Phil’s preparation for the show was intense. He invested time and resources into studying, purchasing textbooks and flashcards to ensure he was ready. "Every day after my life partner Wes and I woke up, I would study, then go to work. On my lunch break, I would study more," he recalls. His dedication paid off when he won $175,000, providing him with significant financial freedom.
The Impact of Side Hustles
Phil’s game show experiences have not only been financially rewarding but have also shaped his leadership philosophy. He recognizes the importance of embracing diverse interests and side hustles, both personally and within his company. At GumGum, he has implemented "starting classes" for new employees, encouraging them to share their passions and side projects. "It’s amazing to watch everyone light up," he says, noting the variety of interests among his team, from DJs to macrame crafters.
Lessons in Leadership
Through his game show journey, Phil has learned valuable lessons about decision-making and self-trust. On Are You Smarter Than a 5th Grader?, he faced a pivotal moment where he had to choose between his instincts and a child’s answer. "I ended up sticking with my own answer, which was the right choice for me," he reflects. This experience reinforced the importance of staying true to oneself, a principle he applies in his leadership role.
Phil also emphasizes the significance of emotional connection in business. "The most successful leaders are the ones who can go deep in humanizing us and themselves," he explains. He believes that transparency and authenticity are crucial in fostering meaningful relationships, both within the workplace and with clients.
A Shift in Perspective
While Phil’s game show side hustle has been a source of joy and financial gain, he acknowledges that it comes with limitations. "You can only go on so many game shows over the course of 10 years," he notes. Today, he views any future opportunities through a different lens, considering the impact of his winnings and the potential to give back. "If I were to appear on one and win, I’d likely donate the money," he states, reflecting a shift in his priorities.
Phil Schraeder’s journey from a game show enthusiast to a successful CEO illustrates the power of following one’s passions and the importance of embracing diverse interests. His story serves as a reminder that our experiences, no matter how unconventional, can shape our professional lives and influence our leadership styles in profound ways.