Earn Money by Typing (Transcribing) - Side Hustle Review
Updated: Aug 4, 2022
You want to keep your day job or you have other commitments? You do not have to feel dishearten because with this side hustle, you can earn money from home at your own convenience. You get to decide how many hours and the place of work. Sounds interesting right! Let’s discuss, how can you start earning money by transcribing.
But first let’s understand, what is transcribing?
Transcribing means converting an audio or video recording into usable text, that means typing what you hear word- for-word. In this era of technology, when we can record every thing by a push of a button, and it facilitates business and professionals to record any important event like meetings, interviews, phone calls etc. But listening and seeking information one needs form such files can be cumbersome. So, many business and professionals hire people to convert the audio or video files into written form.
What will you require to start earning?
To become a successful transcriber, you will be needing the following skills and tools:
Writing skills – you will require a working knowledge of English language. You will know grammar, punctuation, tense and more. Transcribing will require you to type the file exactly the way it was said. Hence, knowing the language is the first requirement
Listening skills – you will need to have a good ear for listening. You will require to listen the audio/video files carefully, so that you do not miss any details.
Typing Speed – you will need to have a decent typing speed. The faster you type, more efficiently you will be able to transcribe and earn more money
Computer – you will require a laptop or a desktop, with a word processor like Microsoft word.
Headphones – its is not mandatory, but with headphones you will able to hear the audio more clearly
Internet Connection – to be able to work form anywhere, you will require Internet connection.
Foot – pedal – It is a device that will make your job a lot easier. With the help of this you can play, pause, rewind and fast forward the audio more easily and efficiently.
Challenges you will face in transcribing!
Like every job there will be some challenges you may face, but knowing it beforehand will help you to prepare for it.
Difficult audio – it may happen that you are not able to understand the audio. It may be due to the poor quality of the audio or the person is speaking in an accent you are not familiar with.
Difficult words – many a times you will be hearing the audios of medical fields or finance fields or legal fields, the words or terminology used is not known to you. You, will have to do time consuming research to know the correct spelling.
Less work – as a freelancer, it may happen in the beginning you are not getting enough work.
Now, that we understood what is transcribing, what we will have to prepare for the job and the challenges we may face to do our job. Check the following website you can enroll to provide transcribing services.
Now, the most interested thing you really want to know – How much you will earn?
In the beginning, the income will not right away substitute your day job. But you are in a mindset that you want to earn some thing extra in your free time, then it is one of the most ideal among many side hustles.
Generally, you can earn from $ 0.4 to $2 per audio minute transcribing depending on the projects or platforms you are working. Which makes it to $24 per hour and many a time an experienced transcriptionist earns even more. Many full-time transcriptionists earn as high as $3,000 a month.
Sounds lucrative right! But you need to hold your horses, why? You will receive payment based on the time of audio / video you are transcribing. So… The catch is???
You are not paid on the basis of time of the day you are spending, you are paid on the basis of time you actually able to transcribe. That’s means the lesser time you take transcribe an audio or video file, then you will be able to earn in this level.
When you just starting out, you will take more time but with patience and hard work – you will be able to earn more.
This side hustle will allow you to work at your own pace and schedule. You will be able to decide your place of work, your home or café or tropical beach. When you are master of your own schedules, you will be able to spend time with your family and indulge in your other passions.
All you need do is, sign up and start earning. There might be some websites, which will require you to give a test before, but do not worry. With the help of skills, we have discussed before you will be able to start you transcribing journey. In the beginning the task may seems very tedious but with time you will be able to grasp the technics of transcribing.
Do not forget, “practice makes man perfect”.