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What’s the best side hustle for Filipinos?
Freelancing is one of the best and most lucrative side hustles for Filipinos. It provides flexibility and allows you to work from anywhere. Not only that, but it is perfect for students, professionals, parents, and even retirees.
You can choose to be a freelance consultant, virtual assistant, writer, editor, or offer services in any field where you have expertise.
“Side hustle”, “side gig”, or “sideline” in some cases, is increasingly becoming a common term among young Filipinos. To put it simple, a side hustle is a source of income that isn’t someone’s primary occupation or employment.
For example, you could be working at an office as an accountant during the day and by night, a freelance graphic designer during your spare time so as to bring in extra money.
The benefits of having side gigs are apparent: you make more money than you usually would (it simply improves your cash flow).
The downsides are just as obvious: Since you’ve already spent 8+ hours on your day job, the rest of your dwindling free time would be exhausted doing extra work.
What follows is a list of the most profitable side gigs you can get into with varying degrees of difficulty.
What is a Side Hustle?
A side hustle is an additional job that provides supplemental income to one’s full-time job. It’s also called a sideline, side gig, or raket.
Typically, it’s something a person loves to do, as opposed to a day job that’s just meant to put food on the table and pay the bills. A side hustle gives employees the chance to pursue their passion or dream job without giving up the financial stability of a regular paycheck.
However, a side hustle is different from a part-time job. With a side hustle, you can pretty much determine for yourself how long you want to work in a day and how much you want to earn.
This freedom you can’t get from a part-time job, as the employer is the one who decides the employee’s work schedule and salary.
12 Best Side Hustles for Filipinos in 2023
Ready to become rich this 2023?
Improve your cash flow and earn more money in your free time with these 9 side hustle ideas.
Estimated Monthly Earnings: from P10,000 – P100,000
A freelancer is defined as a self-employed worker who has no long-term commitments to an employer.
The Philippine business climate in Manila seeks freelancers that have skills in the following fields:
- Multimedia arts (video editing, sound editing, dubbing, voice acting, graphic design
- Creative writing (article writing, proofreading, copywriting, data entry, transcription)
- Digital marketing (SEO, digital PR, social media management, content marketing, creating promotional campaigns and material)
- Events (organizing, promoting, coordinating, logistics, photography, etc…)
- Teaching (online ESL tutor)
- Admin & customer service (virtual assistant, customer service representative)
- Web & Software Development (programmer, web developer, web designer, QA)
If you are aiming to earn extra income as a freelancer, reassess and reevaluate your skills. Here are a few sample questions to ask yourself when assessing an opportunity:
- Do you have an eloquent command of English and/or another language?
- Do you have a knack for writing and putting character and significance to articles and coming up with substantial topics to write about?
- Do you have a keen eye for proofreading?
- Do you have the proper productive habits, work ethic and the right equipment for video editing or graphic design?
- Do you have the PR skills or a strong technical background in Digital marketing?
- How well do you manage time and delegate tasks when it comes to organizing schedules and events?
If you have any of these skills or have something equally useful in your repertoire, you can sell your skills as a freelancer. There are plenty of online platforms which you can use to sell your services, such as:
- Jobstreet (for part-time home-based job opportunities)
Freelancers tend to earn on a project basis, so your skills need to be competitive, flexible, adaptive and constantly evolving. The difference between a good and great freelancer is that the former meet deadlines, and the other beats deadlines (accompanied by high-quality outputs).
It’s easy to improve your skills by offering your skills for cheap to build a portfolio and client-base. A freelancer becomes more attractive to future clients if he can turn up and show the projects he’s done.
Filipino freelancers make P39,000 per month on an average1. Some people have built whole careers out of their freelance work, earning anywhere from P10,000 to P100,000 (or even more) per month depending on the quality of their work, and consistency and availability of projects.
You can surely earn more when you start closing long-term projects (that will pay you on a retainer) – and eventually scale it into a business when you start hiring more people to do the work (while you’re focusing on getting more projects).
As a freelancer, you must also learn how to assert yourself when it comes to charging your clients and collecting your salary, without being abrasive.
- 20 High Paying Remote and Home-Based Jobs for Filipinos
- How to Make Money Freelancing in the Philippines
2. Financial Advisor or Insurance Agent
Estimated Monthly Earnings: P20,000 – P50,000
This may come as a surprise to some, but being a financial advisor or insurance agent for a large company can be incredibly profitable if you have the necessary interpersonal skills to go along with it.
The job description mainly revolves around offering financial advice and educating people about insurance policies, and how these services can help your potential clients’ lives in the long run.
These jobs are often advertised as flexible with time, with high earning potential – which is true, as your salary would be on a commission basis (around 40% – 50% commissions per sale).
Granted that you have the necessary PR skills, you’ll earn as much as you’re capable of selling.
Successful agents can earn six digits a month for every 20-30 hours a week spent meeting with clients, but that depends entirely on one’s ability to network, market and sell the services.
Doing the math:
If you can sell at least 3 insurance policies worth P20,000+ (per annum) every month, you can modestly earn around P30,000 per month (and assuming your clients will continue on with their policies, you’ll receive the same amount in the succeeding year).
What makes this side hustle lucrative?
According to 2019 data, only 36.11% of the population in the country are insured2, which means there are millions of Filipinos out there that will eventually need to have one. And there’s VUL, an insurance policy that offers both life insurance and investment features.
Although, in order to become an agent, one must take the appropriate certification exams in the Philippines. These prerequisites can cost up to P6,000 total (P2,020 for the Insurance Commission Exam for traditional and VUL, while the License costs P3,030 – which is valid for 3 years). So study up to get yourself certified and licensed to work for companies such as AXA, Manu Life, or Pru Life.
Bigger institutions like Sun Life Financial do offer free certification/licensing exams, including free reviewers (reading materials) and free seminars.
There are also different types of insurance products that you can choose to sell (though non-life insurance products will require a different type of license), such as:
- Life Insurance
- Health Insurance
- Accident Insurance
- Car Insurance
- Business Insurance
- Home & Property Insurance
- Travel Insurance
- Pet Insurance
3. Sharing Economy
Estimated Monthly Earnings: P20,000 – P70,000
The rise of apps like Grab, Lalamove, and Airbnb has given birth to the so-called sharing economy, in which physical assets or services are shared between people for a fee.
By offering convenience to consumers, earning passive income from your assets has never been as profitable and accessible as now.
Enterprising side hustlers can ride on the income-earning potential of the sharing economy in three ways: by providing ride-sharing, logistics, or home-sharing services using their existing assets.
Estimated Monthly Earnings: P20,000 – P70,000
If you have a car and spare time, you can apply to be a TNVS (transport network vehicle services) driver, where you use your car to bring people from point A to point B for a profit.
Full-time drivers typically make P30,000 to P40,000 per month3, so your income will depend on how frequent and available your schedule is to drive people around. The highest earnings for TNVS drivers happen during rush hour, but the drawback is that you’ll spend the most amount of time stuck in traffic.
To maximize their earnings, other people join ride-hailing platforms as operators and employ drivers to drive a small fleet of cars.
Grab is currently the market leader in the Philippine TNVS industry, but there are other ride-hailing firms Filipinos can join in to earn on the side using their car. Alternatives to Grab include HYPE, OWTO, and Go Lag.
Angkas is also gaining ground as a motorcycle ride-hailing platform in the Philippines, as the clamor for a faster mode of transport has intensified amid the worsening traffic situation in Metro Manila.
If you have a motorcycle (or can only afford to buy one instead of a car for side hustle purposes), then you can become a biker with Angkas or any of the two new bike-sharing platforms, JoyRide and Move It.
Courier and Logistics Services
Estimated Monthly Earnings:
- P6,000 – P30,000 (for motorcycle riders)
- P7,000 – P70,000 (for sedan/hatchback/MPV/SUV drivers)
- P20,000 – P350,000 (for van/light truck drivers)
Instead of transporting people with your vehicle, you may choose to make money transporting goods as a logistics services provider through logistics and delivery platforms such as Lalamove, Grab Express, Mober, and Transportify.
Joining these companies as a partner driver allows you to earn extra income delivering just about anything from one place to another with your vehicle.
There’s also a high demand for food delivery services, which is another opportunity to make money from your bike or motorcycle through apps like Foodpanda, GrabFood, and LalaFood.
Home-Sharing/Vacation Rental Services
Estimated Monthly Earnings: P20,000 – P70,000
If you own an unoccupied condo or house, or one that has a spare room, you can rent it out and list it on home-sharing sites such as Airbnb or Agoda Homes. Usual guests are tourists and workers who live far from their workplaces and are looking for temporary accommodations.
Depending on your location and the size of your space for rent, you can charge anywhere from P500 to P4,000 per day—and make decent money every month.
When it comes to operational expenses, renting out a room has low-maintenance costs per week. Your main responsibility is to maintain the cleanliness of the room after the customer is done renting it.
You may also need to organize your schedule to meet future tenants who are interested in renting your place to give them keys and let them in. Becoming a host on Airbnb or Agoda Homes can be a high-earning business idea for you if your property is in an attractive location, especially near tourist destinations where a lot of visitors want to spend time in.
4. Buy & Sell (Item Trading)
Estimated Monthly Earnings: P10,000 – P30,000
If you have a knack for spotting good deals and understanding what people like to buy online, and organizing the market in niches, you can make a good amount of money using online sales platforms like:
One common thing to do here is to look for cheap deals to buy from and then re-sell them on the same platforms for more.
Alternatively, you can look into going to offline marketplaces such as garage sales, thrift shops and other places which aren’t making good use of online marketplaces to score cheap deals which, in turn, can flip you a good profit using those platforms.
Profit and time invested are less certain as they depend entirely on what you’re looking to sell. Often the time investment relies on moving on deals quickly before someone scoops up something that you see could be profitable.
The main thing you’re creating value for customers here is your ability to spot deals and items for their convenience.
Remember: Buy low, sell a bit higher.
5. Offering Professional or Trade Skill Services
Estimated income: P15,000 – P40,000 per month
There are many other services you can offer to make money on the side. For instance, anyone can get together a few other people and offer to clean people’s houses, cars, condos or else for a tidy sum of money.
There are platforms to offer such services on, such as:
These platforms create listings for skilled craftsmen and artisans too. Including manual labor jobs for:
- Home repair and improvement
- Moving & trucking services
- Cleaning, electrical, pest control, and plumbing services
- Gadgets and appliance repairs & services
- Food catering services
- Events, performers, and other business services
- Fitness/Personal trainers and more.
Of course, social media is a powerful tool to market your services to people looking for them. As with anything else, your earnings depend on the service you provide and how well you do in the field.
6. Sell online
Estimated monthly income: P10,000 and up
Since the pandemic, selling online has boomed drastically.
This not only allows you to reach more people, but also enjoy the benefits of affordable ads, reduce your operational and processing cost, and try targeting options, among many others.
You can sell practically every item online. You just have to do proper research to ensure there is a proper market for your item.
There are many ways to sell online. Here are some ideas.
In simple terms, dropshipping is a business model where a retailer does not keep stock of his/her merchandise.
Instead of having products in stock, the retailer simply purchases the items from the supplier, and then the supplier ships them directly to the consumer.
How it works
A dropshipping business is run through an e-commerce website or an e-commerce platform. All items for sale are simply listed in the store.
The main task of the business is to advertise and drive traffic to the site. The suppliers are responsible for storage, packaging, and shipping.
Wholesaling is a form of selling goods in large quantities directly from the manufacturer to another business to resell them at a lower cost.
A wholesaler can reap the benefits of volume discounts. Most wholesalers purchase goods in bulk. to reduce cost.
These wholesalers then sell these products to retailers at a smaller profit margin.
How it works
A wholesaler is an intermediary who purchases goods from a producer or manufacturer in large quantities. Then, wholesalers sell products to retailers. The resellers are responsible for selling directly to consumers
Print on-demand or POD is a process of printing a single book, poster, t-shirt, or any other product, only when an order is placed.
Meaning, there are no printed copies of the book or product until an order is placed.
Print-on-demand allows you to get books and other products into the market fast and effectively. There is also no need for storage for unsold products.
How it works
Let’s say you have a book print-on-demand business. When an order is placed, you will print the book. Once it is ready, you can ship it to the customer.
Where to sell items online?
There are many avenues where you can sell your products online. Here are some of the most popular choices of Filipino online sellers:
There are a lot of e-commerce platforms you can use to create your own storefronts such as Shopify and WooCommerce Plugin for WordPress.
Lazada is an e-commerce platform that allows product owners to list and sell their products. It is one of the most visited e-commerce sites in the Philippines.
Facebook Marketplace is a section of Facebook where people can list and sell products. This is a great channel if you want to sell products locally.
Just like Lazada, Shopee is an e-commerce platform that allows you to easily sell and process orders. A lot of mobile users use this app.
For more information, check out our in-depth article on online selling.
7. Blogging & Microblogging
Estimated income: P5,000 and up (depending on followers & readership)
We live in a world where we look to our favorite influencers to buy the latest beauty product, outfits, or even trending restaurants.
The power of social media and influencer marketing is undeniably strong. If you can excel in a certain niche, it is possible to build an online empire.
Here are some ways you can make money from blogging and microblogging.
Blogging simply means you create content on your own website. You can create a blog post about anything under the sun.
It is also a great way to monetize your passion, as well as connect with your audience.
How it works
Start a blog where you write and publish your own content. This content could be about anything such as beauty, fashion, or even your travel adventures.
Then, leverage the power of SEO, ads, and social media to grow your audience.
Once you’ve done this, you can start monetizing your blog through ads, sponsored content, merch, offering consulting services, and many more.
Learn More: How to Make Money through Blogging
Microblogging – Instagram, Facebook, Tiktok Influencer
Microblogging functions similar to blogging, but instead of a blog or website, you need to regularly maintain social media channels such as Tiktok, Facebook, Instagram, and other mobile-specific platforms.
Basically, your goal with microblogging is to become an influencer.
This refers to someone who has a sizable number of followers on a social media platform and is considered an expert or authority in a specific niche.
Influencers get a lot of perks such as paid travels, invitations to exclusive events, and brand deals.
How to Monetize your Blog or Microblogging Platforms?
Earn through ads
Many bloggers and microbloggers use their blog or profile as an avenue to put their advertisements.
For example, if you have a blog, you can sign up for Google Adsense where you can get a commission if viewers click on your ads.
You can also directly contact a brand that may be interested to rent a banner ad space on your page.
Make money through affiliate marketing
This is perhaps one of the best ways to make money today.
Affiliate marketing is when you promote other people’s products or services and get paid a commission when you convert a sale.
You can be an affiliate for platforms such as Lazada, Zalora, Shopee, and many more.
Brand partnerships (sponsored content)
Many bloggers and microbloggers will agree that sponsored posts are a great source of income for them. Because you’ve already established yourself as an authority figure in your niche, brands are willing to back ride on this.
Sponsored content is a form of branded content created by a content creator in the form of text, photo, or video to be shared on the content creator’s own site. A lot of content creators offer packages for sponsored content.
For example, you can get paid a huge sum for a package that includes 1 Instagram post, 2 Instagram stories, and 1-minute Instagram reel.
8. P2P Lending
Estimated Annual Earnings: 6% – 30% of the money invested
A side hustle doesn’t have to take so much of your time. Case in point: investing your money in peer-to-peer (P2P) lending.
As the name implies, P2P lending involves lending money to borrowers (through online platforms such as FundKo, Blend PH, and Vidalia) and earning interest from it.
Compared to other investments such as stocks and mutual funds, P2P lending is less complicated and easier to learn. It also requires only minimal investment.
For as low as P5,000, you can already become a lender on a P2P lending platform.
Estimated Monthly Earnings: P24,000 – P500,000+
Making YouTube videos for a living can be a lucrative side hustle for those who love sharing engaging content online. Monthly earnings can go six digits or even as far as millions, depending on the number of videos posted and their number of views.
YouTubers typically make money from every view or click of ads placed on their videos. They may also get paid filming product reviews and/or attending promotional events (such as product launches) and making a video about them.
With passion and the right equipment, just about anyone can start a side gig as a vlogger.
However, not everyone succeeds in vlogging—it takes a lot of commitment, talent, and strategy to edge out the competition.
10. Live Video Streaming
Estimated Monthly Earnings: P15,000 – P500,000+
Love gaming? Turn your hobby into profit through live streaming.
You can stream a video of yourself playing games online for other gamers to watch on platforms like YouTube, Facebook Gaming, and Twitch.
There are various ways to earn side income as a gaming streamer:
- Subscriptions/Pay per view
- Donations or tips from fans
- Affiliate sales
- Sponsorships and brand deals
- Selling your merchandise
If you live stream on Facebook, the company will even pay you 55% of the advertising revenues if you have 2,000 followers and a video with at least 300 viewers watching at the same time.
This is perhaps why gamers claim they’re making more money on Facebook Gaming4 than on Twitch and YouTube.
Not a gamer? Don’t worry. Since COVID-19 hit, other streaming categories are finally having their moment in platforms that used to be dominated by gaming.
People are logging onto streaming platforms to watch people eat, do their make-up, learn something new, and a lot more. Here are the different streaming categories you can try apart from gaming:
By now, you’re probably familiar with thousands of influencers releasing videos of them whispering into a microphone.
Autonomous Sensory Meridian Response or ASMR streamers whisper in a melodic voice, touch items like water bottles, or do roleplays like getting a haircut. While this may seem simple, a lot of people are captivated by it since it can decrease stress.
If you have a hearty appetite, you can try doing Mukbang videos. Mukbang hosts film themselves in front of an electric burner or a huge plate of food. This relatively new genre of streaming started as a trend in South Korea and has become popular in the rest of the world. ASMR and Mukbang go hand in hand.
AMA (Ask me Anything) or Q&A Interview formats
The roots of AMA can be traced back to Reddit. It’s a perfect live streaming option to try for those who have already built a solid fan base on their social media platforms. You can collect questions before your livestream begins to jumpstart it.
Livestream panel discussions follow the same format as an in-person panel discussion where a group of people gather to talk about something. The topics can range from pop culture, academics, gaming, beauty, and many more.
If you’re an expert, chances are, many people want to learn a thing or two from you. A webinar livestream involves you showing educational or instructive content to your viewers. Make sure to involve audio-visual presentations, or write on a whiteboard to ensure the audience does not lose interest.
This live stream is a very important part of the sales process. If you own a brand, you can do a demo of one of your products. If not, a brand may be interested to sponsor you. Simply demonstrate how to use a product, and let your audience know its key features and benefits.
Live-selling has truly reshaped e-commerce. This live stream category involves showing customers products for sale and giving them a chance to buy the items in real-time through commenting. One live seller on Facebook even reported earning seven digits per month.
Behind the scenes
Just like its name suggests, it shows how something is being made. This is a hit among viewers because it makes the live stream artist seem more authentic. It’s also a great livestream opportunity for brands who want to engage their audience.
How to’s, tutorials, and live boot camps
Nowadays, there is a rapidly increasing demand for digital learning. This live stream category shares similarities with online classes since it allows you to share valuable lessons with your audience.
11. Drop Servicing
Estimated monthly earnings: Php15,000 – P50,000 or more
Drop servicing refers to selling a service that is carried out by another party. When you outsource a service instead of doing it yourself, you will be able to save time and resources.
In a way, you act as the middleman or agency. You don’t need to set up any physical store to do this, especially if you plan on focusing on online work.
Drop servicing works in the same way as drop shipping, only you sell services instead of a physical product.
When done right, this side hustle can be extremely profitable. Drop servicing is an incredible business idea for people who can manage a team of people to deliver various services to clients.
You may not realize it yet but drop-servicing is everywhere in the Philippines.
You may have even experienced it when you hired a cleaning service to clean your home and they sent a freelance representative, or you hired a company to handle your business’ Tiktok page that outsourced the job to a freelance social media manager.
Wondering what services you can try for this side-hustle? Here are some examples:
- Digital products (books, software programs, online courses, webinar content, printables, workbooks)
- Sales and marketing (SEO, email marketing, social media marketing, market research)
- Writing (academic, technical, scripts, blogs, copywriting)
- Production (podcast, audio, video)
- Accounting and bookkeeping
- Design (animation, video editing, art, illustration, graphic design)
Of course, drop servicing doesn’t have to be an online business. If you want to follow an offline model, you can drop service the following:
- Dog walking
- House cleaning
- Pest control
Thanks to drop servicing, you can scale your business in a way that would be impossible to do if you’re working alone. After all, you can only do so much.
There’s no limit to drop servicing since you are not bound by the number of hours you can work in a day. The major thing you just have to ensure is delivering consistent work quality to your clients.
How to get started in Drop Servicing:
Because the demand for freelancing has increased drastically over the last few years, it has become easy to set up a drop service company in the Philippines.
For drop shipping to work, you just need a freelancer/person who is willing to do the work for a set amount of money, and a client who is willing to pay more for that service. Here’s how you can set up your own drop service business.
- Think of an idea (preferably one you’re also skilled at)
Now that you’re decided to start a drop service business, think of something you want to offer to your future clients.
This can be a skill you already know, a skill that is in high demand, or any skill where the pay of services ranges drastically.
- Build a reliable team
If you want a good reputation in the drop service industry, you need to make sure that the quality of your service is consistently top-notch.
Your workers should be skilled in the services they will be providing, whatever service you are selling. You can look for freelancers online through the following:
- Facebook groups
- Common friends
Trial assignments can help you weed out unqualified freelancers. Do not only assess the quality of their initial work but also their response time, ability to follow directions, and communication skills.
If you want to take the extra mile, invest time and effort in training them.
There are two ways you pay your team. First, you can set up a monthly payment structure. Second, you can pay them on an hourly/project basis.
- Find clients
Have an existing network of clients? Then you’re lucky. Start by talking about your business idea to friends and colleagues. In a way, you are marketing yourself to other people.
They may not be interested in your services at the moment but when the time comes that they need your services, they know who to reach out to.
You can also get high-paying clients through direct emails, cold calling, or sending proposals on freelance websites such as UpWork.
- Get paid
Finally, you can start earning. Ideally, you should charge at least 2x more than your team’s payments. This will allow you to earn money faster.
It’s important to note that you won’t become an overnight millionaire with this side hustle. Building your reputation takes time and finding a client who is willing to pay a huge amount may not be on the horizon for the first few months of your business.
Eventually, this side hustle may even become your main source of income.
12. NFT Gaming
Estimated Monthly earnings: Php10,000 – Php50,000
Even though you don’t have knowledge or interest in the world of cryptocurrencies, this side hustle can still be a great source of income. In recent months, different NFT games have taken the world by storm, with Axie Infinity leading the pack.
Just in April, the game’s daily active users were only 30,000. That number went up to 1 million in August 2021 5. Filipinos love playing games, and earning money while playing is a dream come true for gamers.
While the most common way to earn money through NFT is by playing the game, you can also get your foot in the door by breeding and selling rare items and owning NFTs.
How to Start a Side Hustle in the Philippines
Ideally, you begin a side hustle when you have a day job that funds your living expenses and will serve as your fallback in case your gig doesn’t turn out well.
But it’s never easy to run your side hustle on top of a 9 to 5 job. You need to have the right mindset, ability to prioritize things, and enough preparation before diving in.
Here are the steps to start your side hustle properly while working a full-time job.
1. Know your purpose for starting a side hustle
Your full-time job already takes most of your time every day. Adding a side hustle to your daily routine will make your schedule a lot more hectic. Not to mention that it also requires a great deal of effort to succeed.
So before you launch your side hustle, do a self-assessment. Make sure to ask yourself these crucial questions first:
- Why do I want to start a side hustle when my work life is already jam-packed?
- What do I want to achieve out of this?
- Will the things that I gain from my side hustle be worth all my sacrifices?
Whether you want to earn extra income, shift careers, or pursue your passion, it’s important to figure out your purpose for starting a side gig.
2. Pick a side hustle that matches your interest and skills
Choose something you’re good at. You have skills; you just need to know which ones you can reinforce and sell. There’s no point in selling something you’re bad at.
Your side hustle has to be something that requires the skills, experience, and knowledge you already have.
Unlike in full-time employment where you can be on a learning curve, side hustles don’t have that flexibility. Learning a new skill takes time and money, and you can’t afford that if you want to be successful as a side hustler.
3. Validate your side hustle idea with one paying customer
Is there a market for the service you’re planning to provide? Are people willing to pay for it?
Test your idea out by working with and asking for honest feedback just one actual paying customer.
This way, you’re assured that you’re not starting something that won’t solve your target customers’ problems.
4. Set your goals
In any endeavor, it’s hard to track your progress without defining your goals from the get-go.
For example, how much income do you aim to earn? How many customers are ideal?
Setting daily, weekly and monthly goals and where you want to take your side hustle helps you hold yourself accountable and determine whether you’re on track.
5. Create your roadmap
Once you’ve defined your goals, map out how exactly you plan to get there, from launching your side hustle and beyond.
If your goals answer the whys of starting your side gig, your roadmap identifies the hows of it. Put everything into writing and update your roadmap from time to time to adapt to changes as needed.
Tips to Succeed in your Side Hustle
Here’s a recap of tips to maximize your success with your side hustle:
- Do something you’re good at – you have skills, you just need to know which ones you can reinforce and sell. There’s no point in selling something you’re bad at, chances are you’re not going to be making money anytime soon.
- Research. You need to know the market to break into it. How much competition are you up against, what type of customers and niches are you targeting and how much should you be charging?
- Don’t forget it’s a side-hustle. Only put so many hours into this as you can spare. If you want to be entrepreneurial and end up opening your own proper business out of this, you’d better work like it’s your only hustle.
- Fund your side hustle through savings. Taking on debt is a bad way to start a side hustle. As much as possible, use your savings. Even better, start a side gig that won’t require much funding, using resources you already have.
- Commit to a strict schedule. Treat your side-hustle schedule like your day job in the sense that you observe a fixed schedule. Decide the number of hours you can devote each day for your side gig and schedule it after your normal work hours.
- Focus on giving your best performance at your day job. You can’t afford to lose your full-time income. Also, your employer can be a client or a business partner when you go full-time with your business. So never compromise the quality of your work just because you’re juggling two jobs.
- Don’t work on your side hustle in the office. Using company resources or time for your side gig is both unethical and a possible violation of your employment contract. Don’t risk getting the ire of your employer.
- Don’t quit your full-time job too soon. Wait for your side hustle to reach your ideal income level (ideally at least 75% of your full-time income) before you hand in your resignation.
- Always add value to your customers. Think of more ways you can better help your customers through the services you provide. Be creative! And always go the extra mile. In doing so, you can keep them loyal to you because you’re able to give more value for their money.
- Form your support system. You can’t accomplish everything alone. Whether you run your side hustle on your own or with a business partner, you need people who you can turn to for guidance and support. These include mentors, colleagues, and friends who can share ideas and honest feedback with you.
Side Hustle FAQs
How do I find a side hustle that’s right for me?
Start by thinking about what you can do that other people need. The goal is to offer a solution. Then, consider what you enjoy, your skills, and the things you wish to learn and discover.
If you are still starting your side hustle journey, don’t be afraid to try out several different types of side hustles. You may discover something very rewarding along the way.
How much money can I make from a side hustle in the Philippines?
Based on your side hustle, you can make P5,000 to P100,000 per month, or maybe more. It may even be enough for you to quit your full-time job.
How can I fit a side hustle into my busy schedule?
First, be realistic and figure out how much free time you have. Then, schedule your side hustle activities around this time.
The most important thing to remember is to be prepared to work longer and harder. But in the end, a side hustle will bring you more money and freedom.
How do I market my side hustle?
Marketing your side hustle starts with knowing and targeting the right customers, and then making your presence known and easy to find.
Promote your side hustle in platforms where your customers are most active. For instance, you can make a TikTok or Instagram account, or post on Facebook Marketplace so more people can discover your side hustle business.
Meanwhile, if you do your side hustle on platforms like Upwork, you can be more active on Facebook groups and forums.
As much as possible, maintain an excellent online profile whatever your side hustle is. This will give you more clients and customers.
Is it legal to have a side hustle?
Yes, it is legal. However, some side hustles need a license or permit. If you fail to take care of these, you will be at risk of getting penalized or sanctioned.
What are the tax implications of having a side hustle?
It’s worth noting that people who have side hustles are not exempt from tax obligations. Whether you are actively earning through your side hustle or not, your tax will be based on your gross receipts.
You must settle a 12% VAT on freelance businesses that are generating sales and receipts over PHP 1,919,500 per year. If your receipts are less than that amount, you will only be charged 3%.
In conclusion, when it comes to side hustles, keep trying and never stop learning.
You’re not going to make thousands of pesos on your first day, your first project or during your first gig.
- 10 Best Business Books for Young Entrepreneurs
- Best HMO for Freelancers & Self-Employed in the Philippines
- 35 Powerful Time Management Tips that Work
- 10 Ways to Make Your First Million
- 11 Money Mistakes Filipinos Make (and how to avoid them)
Get a grasp of the market and experiment with how you position yourself in the market. Try out some strategies and keep selling and building your presence until you find your niche.