Having an online business in the Philippines is a good way to have financial stability. And the best way to start is to know why.
Common problem of Filipino Workers
A common problem faced by most Filipino workers is unstable employment. This is because of automation.
Automation creates redundancy among traditional employees. The work that is usually done by a group is now replaced by a single person with the use of a software.
Another trend among big companies is gratuity. Companies with long history of operation knows this. Loyal employees cost a lot when they retire or when they resigned. Their solution for this is regular end of service program and salary restructuring.
And the most unfortunate cause of instability is termination. Employees knew about termination in an instant. Termination can be with cause or without cause. Whatever the reason the company says, it only means that your employment is in jeopardy.
These are some of the reasons why employment in the Philippines is not good anymore.
Rising Cost of Living
Another problem is the rising cost of living. A family with a single source of income cannot cope with this issue.
A great reason for these is Inflation. It makes a country’s currency weak resulting in higher prices of commodities.
Another contributor is family expenses. As children grows and so its expenses. The cost of college education is much higher compared to primary level.
Hidden Expenses of an Employee
Being a traditional employee means having a limited income. Because traditional employment pays an employee a fixed amount of at least 8 hours per day of work. But only a couple of hours will become productive. A waste of time is a waste of money.
Office-based employment also requires an average of 4 hours per day of traveling to and from work. Factor in the hustles of traffic and you find yourself in the losing side. Not to mention to fares incurred as extra expenses.
The best way to get through these problems is by having an extra income. This is through overtime, commissions, and bonuses. But these means putting in extra time and performance based.
The time used in doing these activities will increase the expenses of an employee. If only an employee can save this time to do more long-term productive activities. This includes building an online business and spending time building relationships.
If these problems are not addressed, Filipino workers will be in constant cycle of money issues. But, there are a solution to these matter.
Solution : Online Business in the Philippines
“We cannot solve our problems with the same thinking we used to create them.”
The quote above is very true. There is no way we can solve a problem unless we see it in another way. Or we find creative solutions for it.
Solving employment issues and rising cost of living cannot be solved using an employee mindset. Using the mindset of being self-employed or entrepreneur can help solve these problems.
But do not get excited yet. Because changing from one mindset to another is not easy. And the journey to having an online business in the Philippines is hard.
Opportunities of an Online Business owner in the Philippines
Becoming an Online Business owner means having another source of income. This is beside a job and being an employee. Do it on the side around your job. The generated extra income from the business will pay off debt or save for a rainy day.
If you have an online business in the Philippines, it gives you freedom once it stabilizes. And, it’s often flexible, allowing you to work part-time or during off-business hours.
Potential Customer in Social Media
The Philippines is a top 10 country of Global Internet users. This is according to the recent Mary Meeker’s Internet Trends Report 2019. And, Facebook accounting for 92.3% of Social Media share for the Philippines from May 2018 to May 2019.
These data shows the potential customers in the online world. Filipino Online Business owners must take advantage on this opportunity. This is possible because of the availability of the Internet.
Become an Online Business owner in the Philippines
Unique source of income for Filipino
The internet has given us opportunities that makes one’s goal of financial security more achievable. And, it has given Filipinos unique opportunities to make a living.
Starting an online business in the Philippines will help you and your family have financial security. Because this will give you monthly residual income to live a comfortable life. But, if you already have enough money, then having this business will add to your income. In return, makes you more stable.
There are many internet users every day. And, this means a business opportunity with no limit. Digital products such as eBooks and videos are two of the things that you can sell online.
Basic Computer Skill
To make money in traditional business, your level of skill will play a great role. An advantage of an online business is that it only needs a basic level of skill to start. You will learn the technical aspects of the venture during the building process. Alison offers a free course about building an online business if you want to learn the basics.
Low Initial Cost of Operation
To start an online business in the Philippines with no money is not possible. What they usually meant was less initial investment involved. You do not need a lot of initial capital for you to begin. Domain Name and hosting for your website are a few of those initial costs that you must spend at the early stages. The costs of starting an online business is dependent on the type of business you are going to start. The cost of starting an e-commerce platform is different from starting a blog.
Help is everywhere
One of the reasons becoming an online business owner is so appealing is outsourcing. In today’s digital age, there are a lot of resources almost available everywhere. Online freelancers are available for any type of work. Whatever your online business needs. Outsourcing jobs from graphics design to content writing to marketing is easy. It is up to you as a business owner how you will maximize this opportunity.
What is an Online Business?
There are many ways to earn money besides a job. And, an Online Business is one of it. Do not confuse an Online Business with easy money. An ideal business should always benefit the society.
An Online Business is a type of business where you earn money through the internet. This can be through a job, advertisements or partnerships.
It can take in the form of a blog, Facebook Fan Page or a YouTube Channel. As long a you can earn money by serving the needs of your followers, then you are in business.
Online Freelancing is a type of Online Business
One way to solve employment issues is to become an Online Freelancer.
Online Freelancing is still an Online Business. Because, you are still earning through the internet. This is by having an online job.
Benefits of Online Freelancing
College graduates and laid-off employees turn to freelancing to support themselves. Because most freelance work is home-based, they don’t have to stick to jobs that are close by. “From a business standpoint, companies hiring freelancers can get better talent by escaping the local economy,” Pearson said. “It helps freelancers too in areas where there’s not much local work.”
Though competing with a national pool of applicants might be intimidating, you may be more qualified for a job than someone who’s geographically closer to the company. Freelancing ensures that you won’t lose a job because of your location.
Rural Impact Sourcing
Another positive about Online Freelancing is Rural Impact Sourcing. This is a program by the Philippine government. Rural areas are the target of these initiative.
Digital.PH provide free technical skills training for unemployed and underemployed. This is available throughout the country.
To avail of the free training near your area, just follow Digital.PH in their Facebook Page. You may also follow your local DICT Cluster for schedules and updates of their program.
The journey to becoming an Online Business owner in Philippines is not easy. That is why you need a strong reason to act. Learning about Online Business is a good start.
Finally, a better life by having an online business in the Philippines is a challenge. It requires a lot patience to change from your old mind set to a new one. The time is now for you to decide the road that is best for you.
Before you go, we ask to share this with your friends. And, help them improve their lives too.