Would you do it all again?

[TessaDee]

It's my first post but I've been lurking for a while wondering if transcription is for me. I started out doing some writing but the bottom dropped out of the freelance market making it difficult for a newbie to make consistent money so I'm looking for something new.

So, here's my question: If you were just starting out, would you do it all again? Do you consider this market stable enough to invest your time and effort in or, given what you know now, would you go a different route? Currently, I type 55 wpm. I believe I can bring that up significantly with some effort. If I pursue this, my goal is to bring my wpm up to 65 before seeking work. My spelling and grammar skills are good. I know that transcription is more than just wpm and spelling but that's all I bring to the table right now.
I can only work around 25 hours a week. Financially, I would be happy making about $1000 a month to start-- of course, more is always better. Is that possible for a newbie, working only 25 hours a week?

So, if you were me (based on the info above) would you pursue transcription again-- given what you know currently about this industry? I have read the old posts but industries change and newibes are especially vulnerable to those changes. What is a bump in the road for the experienced can seriously derail a newbie. That was my experience with freelance writing and I'm trying to avoid the same disaster.

Thanks very much!

[Emery]

You have to work more hours than that as a new person to start because you don't start out making a high wage unless you are really good with grammar, punctuation and that kind of stuff.

That being said, just start applying to the higher paying jobs and see what happens.

[pawp11]

For me when I first started in online transcription, I was still working my regular B&M job. I killed myself for a bit over three months. The best thing I ever did was jump into this world head first! It turns out I am good at it, enjoy it, and make a decent living.

My first online gig paid $40 an audio hour. I averaged 4-5 hours of audio a week which was $150-200 a week. That 4-5 hours probably took me the better part of that 25 hours a week you mention in your post, if not more than that. So I say it is slightly unrealistc but not impossible. My guess would be you can do 4-5 hours of audio a week in 25 actual hours of work. As you work, the faster and more efficent you will become.

If you are good at it, your resume appeals, you can pass the test at a decent company, and you work hard I think the odds are better. Have you attempted an transcription tests? Some places even have them on their website and don't require a resume or anything to attempt. That would give you an idea if this is for you.

Good luck whatever you do!

[MagiScript]

If you want to make $200 - $250 a week doing this work only working 25 hours a week, you really have to get your typing speed up since you're paid by the file, not the working hour.

To answer your question, I'm not sure if I would do it again. It's been a painstaking two to three years for me, especially at the beginning. I felt like I spent more time looking for work than I actually did working.

My story is different, though. I had a regular job that didn't pay enough to cover my expenses. I was looking for a new job, but the job market was tough and since my husband was in the Army, I wasn't planning on staying at the job for more than a year.

I did take lower-paying jobs. I took whatever I could get because I was desperate for ANY money at all.

Since I started almost three years ago, I've gained 50 pounds.

Anyway,

I think if you're not desperate for money and just want to do it in your spare time for extra money, then do some applications and only take the higher-paying jobs when they come in.

Otherwise, with your typing speed, my advice would be to get a second part-time job.

If you need money NOW, you can log on to MTurk and start making money immediately via Casting Words and get it drafted to your bank account in 2-3 days. The pay sucks, but that's the only resource that I know of that will get you paid now.

[MTHome]

I do medical but, yes, I'd do it all over again.

[Chad1522]

You sound like a smart person for recognizing our great biz! I look forward to seeing you here in the forum!
Sue

[TessaDee]

Thanks very much for all your responses. I feel very encouraged.

@MagiScript: Thanks for the warning. I'll have to be careful. I really can't afford the extra, uh, baggage

[SoccerMomx2]

Yes, I would do it all over again. When I first started out at home in 2005, I worked extremely long hours. I decided working those long hours wasn't worth being stressed out. I went back outside the house to work. My bosses at the hospital told me in 2007 I would be working 12 hour shifts. I put my foot down. I refused to work those hours for them and be away from my family. I came home that day, found a job with Sten-Tel and haven't looked back. I also work for three to four criminal court reporters in my state. So, if Sten-Tel is not busy, I usually have work from these court reporters. Would I do it all over again? You bet! It's the best decision I've ever made. There are days I work six hours. There are days I work eight hours. If I am working on a tight schedule on a trial, I might work ten hours. You will have to work a full day in order to see what you will bring it. It also depends on how you are paid, audio hour, by the line, etc. I am paid by the line by Sten-Tel and per page with my court reporters. I will NOT do depositions because the money is not in doing depositions. The money is in the criminal/civil cases. Sten-Tel has been awesome to work with. I've been with them for four years and absolutely love them. I couldn't ask for a better company to work for and people to work with.

[Fingers]

I would do it all again in a heartbeat. The best thing I ever did.

[TessaDee]

I ordered an infinity foot pedal-- can't wait to get it! I'm so excited

Thanks everyone!