How to Build a Home-Based Transcription Service

If you have the proper skills, you can make money from home as a transcriptionist, even if you do not have any medical terminology background. Many industries are in need of individuals who can transcribe the spoken word into text that are not health-care related.

Below are the the basics for starting your own business, maintaining a professional appearance when working from home, finding the proper equipment to do the job, marketing your skills, pricing your services, and industries to target to find work. To be successful, you'll need patience, diligence, and resourcefulness to get the job done and bring the customers to your door.

Marketing can be the most challenging obstacle to building a transcription service. If you have the confidence, ability, and know-how, you can be successful. However, there are large transcription services in the industry already that you will be competing with, but it doesn't mean you cannot build your own local clientele over time. Below are ideas on who to contact when marketing for particular areas of work:

Recorded Insurance Statements - Contact the claims department of insurance companies. If you don't feel you have the marketing skills to get in the door, you can find work through large transcription services already servicing these companies who routinely hire work-at-home individuals. An Internet search can provide you with companies to contact. Also, contact attorneys in your area who specialize in auto accidents and workers' compensation.

Administrative Law Hearings - Market to attorneys who specialize in DUII (driving under the influence cases) or employment matters, who routinely attend hearings.

Law Enforcement - Local law enforcement agencies will sometimes outsource the transcription of tape recorded interrogations or witness statements. You can obtain the work usually after stringent background checks on yourself and fingerprinting, but if you can get into a local agency it's a good source of income. Market to your local law enforcement agencies.

911 Calls and Wire Taps - Criminal lawyers and private investigators occasionally need 911 transcripts or wire taps transcribed. You may find private individuals as well going through divorce or custody battles who tape record telephone conversations that need transcribing.

Focus Groups - Research centers do focus groups and often need the group conversations transcribed. Contact any research centers in your area.

Sermons - Yes, sermons. Large churches or religious organizations need transcription of preached sermons.

General Marketing - In your marketing to the general public, you'll find individuals who may need transcription of government hearings, client interviews, business seminars, and public testimony at planning commission meetings or city council meetings.

Business Correspondence - Some industries still dictate. However, you'll still find those who prefer to dictate letters, memorandums, legal pleadings, appraisals, proposals, briefs, books, etc. Market to the general business public for these types of transcription items.

Freelance Companies - There are a variety of online freelance sites that you can register on the Internet where you can bid on transcription jobs. Check the link here.

Procurement Departments - All cities and states have portals on the Internet where you can register as a potential vendor. Bids are also placed on those sites for transcription work needed. Check them out, register, and keep on top of the work sent out for bid.

Now you're set up, how do you price your services? There are a variety of ways. Some services charges by the hour, some by the word, some by the line, some by the page. You can purchase software that will count every five keystrokes as a word or the number of lines in a document.

What are industries standards? Industry standards are published standards of how long it should take to transcribe a document based on the number of minutes/hours of audio. There are published standards on the Internet. Years ago, Association of Business Support Services International (no longer in existence) published such standards. Their publications, however, can still be purchased. Check the link below.

Market rates are rates you can obtain locally by contacting other transcription services to see what rates they are charging. Remember, you not only want to make money, but you want to be competitive as well and give customers an incentive to use your services.

I'm currently writing a small booklet with more detail information and tips on starting your own transcription & word processing business. Check back soon to order online.