In the digital age, the concept of a side hustle has gained immense popularity, and it’s not surprising why. Side hustles provide a supplementary source of income, help individuals pursue their passions, and offer a safety net in uncertain economic times. For Filipinos, who are known for their entrepreneurial spirit and creativity, content creation has emerged as one of the most prominent side hustles.
But is it truly the best side hustle for Filipinos?
If you’re dreaming to be the next Mimiyuuuh (or god forbid, Rendon Labador), it’s time to explore the pros and cons of being a content creator in the Philippines.
The Rise of Content Creation in the Philippines
Content creation, whether through blogging, vlogging, podcasting, or social media, has boomed in the Philippines. Filipinos have flocked to platforms like YouTube, Instagram, TikTok, and Facebook to share their expertise, experiences, and creativity. This surge in content creation has led many to wonder if it’s the ultimate side hustle for Filipinos.
The Pros of Content Creation as a Side Hustle
- Creative Outlet: Content creation allows individuals to express themselves creatively. Filipinos, known for their artistic talents, find this aspect particularly appealing.
- Flexibility: Content creation offers flexibility in terms of when and where you work. This is especially attractive for those with day jobs or other commitments.
- Low Barrier to Entry: Starting a blog, YouTube channel, or social media account is relatively easy and inexpensive. You don’t need a significant upfront investment.
- Potential for Passive Income: Once you’ve built an audience, there’s potential for passive income through ads, sponsorships, affiliate marketing, and merchandise sales.
- Personal Branding: Content creation can help individuals build a personal brand and expand their career opportunities in various fields.
The Cons and Considerations
However, it’s essential to weigh the pros against the potential cons:
- Saturated Market: The content creation space is highly competitive, with millions of creators worldwide. Standing out requires not only talent but also a unique angle or niche.
- Time-Consuming: Creating high-quality content is time-consuming. Balancing a full-time job, social life, and a side hustle can be challenging.
- Monetization Challenges: Earning a substantial income from content creation takes time. Many Filipino creators struggle to monetize their content effectively, especially in the early stages.
- Income Variability: Income from content creation can be inconsistent. It may take months or even years to establish a steady stream of earnings.
- Algorithm Changes: Social media platforms frequently change their algorithms, impacting visibility and reach. This can affect a creator’s income and growth potential.
- Content Burnout: Consistently producing content can lead to burnout, affecting both the quality of your work and your mental well-being.
So, Is Content Creation the Best Side Hustle for Filipinos?
Whether content creation is the best side hustle for Filipinos depends on individual circumstances and goals. Here are some factors to consider:
- Passion and Expertise: Content creation is ideal if you’re passionate about a particular topic or have expertise to share. Authenticity resonates with audiences.
- Persistence and Patience: Success in content creation often requires persistence and patience. It may take time to build an audience and start earning a substantial income.
- Diversification: Consider diversifying your income sources within the content creation sphere. This could include affiliate marketing, digital products, online courses, or merchandise sales.
What we advocate for is: if you have something to share and you deem that people would get value from your learned experiences, then you owe it to your audiences to share. But, most jobs, if your heart’s not in the right place, if you’re not excited about the conversations to be had with your chosen topic, you’ll feel the burnout early on.
By being a content creator, you are setting yourself up to be a role model to impressionable audiences and you must start it right. Learn the conversations, learn the finances, learn the taxes, learn the extent of opportunity ahead of you and the community you serve.
We can’t help you with everything but we can arm you with useful information! Watch this short video we made: What Influencers Should Really Know About Taxes: An Explainer on BIR’s Memo 97-2021
Content creation is for everyone, but responsible content creation is reserved to those with vigor and perspective. Most of those who succeeded in this field treated content creation as a business more so than a hobby.
And, if you’re operating a business there is one word that you must think of: Legitimacy. Being a legit business is the best way to go!
Let Taxumo be your sidekick in this new venture. Sign up for a free Taxumo account at www.taxumo.com