What is Transcription?
Transcription is the act of taking audio speech and converting it into written or electronic text. Many companies use transcription to convert their podcasts, legal proceedings, conversations, etc. into written form for different reasons. In a digital age, the need for transcription is growing. Generally, transcription work is categorized into general, medical and legal. General transcription work typically doesn't require any experience. Medical and Legal does so for a quick cash side hustle, general transcription work is what to work on.
The beauty of being a transcriptionist is the ability to work from pretty much anywhere as long as you have your laptop, internet connection, and headphones. You could work from home or you could work at a local coffee shop. The world is your oyster.
You can also choose when you want to work. If you're an early riser or a night owl being a transcriptionist gives you the flexibility to do your best work on your time.
Starting and maintaining a transcriptionist side hustle is also relatively inexpensive as long as you have an existing computer. Just grab your computer and headphones and start getting to work.
Whose It Good For?
Transcription is a great side hustle for those that are great typists and are able to pay attention to audio well. You have a great attention to detail because detail counts in this type of business. It also helps if you have a decent grasp of the English language.
How Do You Make Money?
With Transcription you can make money two different ways: 1) Audio Hour or Per Word 2) Bonuses:
Earnings Estimate Range
Transcription earning potential varies fairly widely. You're earning potential is determined by the following variables:
- Available transcription jobs
- Transcription speed
- Experience (Medical and Legal)
Monthly earning estimates vary depending on many factors. Below is an approximate range on what you can expect to make as an independent transcriber without accounting for expenses incurred as an independent contractor.
Transcriptionist incur very little cost. All you need is a computer and internet access to start your transcription side hustle.
To receive work, play the video or audio, and type you'll need a computer. It doesn't need to be a fancy powerful computer, just enough to be able to reliably play video and audio. Most companies provide the software you need to work so you don't need your own.
You'll need an internet connection to do most of your work. Most companies provide their own software and you'll need internet access to use it.
It helps to have a decent pair of headphones that allow you to clearly hear the audio or video while you're transcribing.
Some companies require that you have a paypal account to receive payment. If you don't have one, it's easy to set up.
Most companies will require that you are able to type a certain amount of words per minute to qualify as a transcriptionist.
Sign up with one of the transcription companies below and get started making that cheddar. To increase the number of transcription jobs you get, you can sign up for multiple transcription companies, as many people do.