I enjoy the flexibility and freedom that this type of business offers me. As long as the work is done with quick turnaround, you are free to complete it whenever you choose. It is empowering to earn money from your own business and exciting to watch it blossom.
Obviously to enter the wonderful world of transcription the first thing you must have is a desire to type, and the first skill you must have is proficient typing speed and accuracy. Given the fact that this will be your main function you must truly be honest with yourself about whether you want to type that much on a full-time basis. Remember that a faster typing speed will get the job done quicker, but if it’s not error-free you may not get repeat business from a client.
The next crucial skill is excellent grammar. With all of the technology included with word processing programs these days (i.e. spell checker, thesaurus, formats, etc.), it makes this process and skill a great deal easier; however, you still must be able to proofread documents and possess the knowledge of formatting, using correct language, and at times, restructuring sentences to be grammatically correct.
Following is a list of the equipment needed to run a successful transcription business:
Computer with up-to-date word processing software
Quality printer, preferably a laser printer
Foot pedal to play voice/cassette files
Transcription Cassette Recorder if not doing files remotely over the Internet
Dictaphone – this is for the client’s use, whether cassette recorder or digital
Office supplies – paper, envelopes, etc. (You may need to get a supply of your client’s letterhead and envelopes too, if you are printing letters for them.)
Other equipment that is helpful but not necessary:
Fax machine
Hi-speed Internet connection
Scanner
You need to decide how you want to operate your business in order to determine the correct type of equipment you need. When I began my transcription business I bought software that could open voice files onto my computer that included a foot pedal. I also, however, bought mini- and micro-cassette recorders (with their foot pedal and headsets), so that I could also offer cassette recorder tape transcription.
Since I run my business completely over the Internet the cassette recorders sit on a top shelf in my office. However, I do keep them in case I ever decide to expand to include this type of transcription.
Chapter
3, What Rates Should I Charge?