To transcribe or not to transcribe?

[Jill T]

Good Morning All,

Has anyone done transcription work to supplement their income until they have some steady clients? I know there are some reputable companies out there that hire independent contractors to transcribe, but the pay is not fabulous.

I've been unemployed since April and I'm starting to panic because I need to get some steady money coming in the door within another month or so. I'm almost ready to officially "launch" my VA business. I'm heading downtown next week to file my DBA and get all my accounts up and running (new phone number, bank account, etc.). Website is nearly complete and I'm starting my business cards and flyers today.

The thought of going back to work full-time is not at all appealing. My daughter loves spending more time with me and I'm not very willing to give all that up, BUT... I need to keep a roof over our heads and food on the table.

Your thoughts on the subject are appreciated!

Jill

[SAGreene]

Hi Jill,

First of all -- congratulations on getting ready to officially launch your business! I wish you every success.

Re: transcription companies. When I first started working from home, I signed up with a company (not sure if we're allowed to name names, so I won't). My experience was not the best. When you first start out you have to sign up for hours. You were assigned a day and time to head to their website and sign up for hours for the coming week. There were very few hours available and sometimes they even wanted you to sign on for stand-by (of course unpaid). The pay was also very low. I ended up deciding it was a huge waste of my time and focused on building my business.

If you are a good transcriptionist, perhaps you can find some sub work through other VAs. You will likely command a better rate.

[Jill T]

Hi Sarah ,

Thanks for your help. This is exactly the feedback I'm looking for. I'm very skeptical and I'd really like to use my time wisely (i.e., building my business). If I do end up doing transcription work, I'd like it to be on my terms and part of the services I offer.

I have a lot of transcription experience which is why I thought about working for one of transcription companies. But, I don't want to do it if it becomes a scheduling nightmare. I'm sure I can find better ways to utilize my time!

Thanks again,
Jill

[April]

My experience with transcription is the exact opposite. I have a regular Monday through Friday schedule, my pay is hourly, and while its a lower rate than what I was making as an in-house legal assistant, the amount of money I'm saving by working at home balances it out.

Its not something I want to do forever because obviously I'd rather work on my own as a VA but its no different for me than if I were taking on a regular out-of-home job. In fact, I'm saving time by not having to commute.

[Jill T]

April,

That's encouraging! Perhaps we could compare notes through a PM? I currently have two companies I'm looking to work with. I'd love to know who you had a good experience with.

Well readers, I now have one pro and one con...

Anyone else care to comment and share their experience???

Thanks!
Jill

[April]

Jill,
Feel free to PM me and I'll share with you whatever info I have.

[Jill T]

Hi April,

Thanks for your willingness to help. I just typed you a PM and hit the send button -- and WHAM! Got the lovely message that I have to have 25 posts to send a PM.

I'm not sure where to go from here... I'd really like to get some advice regarding reputable companies. Hopefully I'll get up to the 25 posts within the next few days and I can send you a quick PM next week.

Have a great weekend!
Jill

[virtual writing]

Jill - If you're serious about being a VA, I suggest operating solely as an independent business, and not as an employee - even if you're doing the work at home. They're just two totally different things. To be honest, you may not have 'steady money coming in the door' within two months, but you will definitely see your business build steadily if you aggressively market, and do fabulous work for your clients.
I think if you have to generate quick money, it may be best to get something part-time outside your home office, and build your VA biz in off hours.

[virtual writing]

Oh yeah, I meant to suggest you check out oDesk.com and eLance, if you don't already. Many jobs there are seeking transcriptionists, and you do it as an independent.

[April]

Hi April,

Thanks for your willingness to help. I just typed you a PM and hit the send button -- and WHAM! Got the lovely message that I have to have 25 posts to send a PM.

I'm not sure where to go from here... I'd really like to get some advice regarding reputable companies. Hopefully I'll get up to the 25 posts within the next few days and I can send you a quick PM next week.

Have a great weekend!
Jill

Ahhh, I didn't even think about that. You can email me through my website, the link is in my sig.