Hey there! I’m Lettie. I help transcribers go from freelancing to starting their own transcription companies. Hopefully, my story will inspire you to take the next step in your own journey to becoming a small business owner. Let me tell you how I got started and share what I’ve learned.
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Table of Contents
Life Before Freelance Transcription
I used to work at a corporate financial services provider and honestly, I never intended to develop a career at that company, or in the financial industry. From day one, that job was a step towards a bigger goal. Don’t get me wrong, I loved the company and the people I worked with, but eventually, the company started to make some major changes and I could see it was time for me to take the next step toward achieving my goal.
Do you love what you’re doing right now? If so, think about how it fits into your future. If not, think about what needs to change. Then, set goals!
Setting Goals
My goal was simple, work fewer hours while making more money. Sounds impossible, right? Well, I was a single mother at the time. I needed to make more money to move us to a safer neighborhood. And I needed fewer work hours to spend more time with my kids. I felt like I was paying daycare to raise my kids for me. The turning point for me was discovering that my kids had been learning their shapes and colors at daycare, a huge milestone moment in my toddlers’ lives. And I had completely missed it. Someone else got to see the proud joy on my twins’ faces the moment they realized they could identify a circle. And I only got to hear about it. I had to ask myself, “How many more of these milestones am I going to miss because I’m working so much?” I immediately amended my goal to work fewer hours from home while making more money.
What are your goals? Write them down, even if they seem impossible. You never know what you can achieve until you try.
Overcoming Obstacles
The transition process from a corporate job to working from home took a lot of work. I spent a lot of time researching to ensure freelance transcription would be viable for me and help me achieve my goal. I started my virtual office long before working from home was common. In order to be seen as professional and credible, I had to give the appearance that my office was located outside of my home. It was really the only way clients would take me seriously. Technologies like Zoom, Dropbox, and DocuSign were definitely not what they are today, and AI tools were nonexistent. In fact, Zoom had only been out for a year and no one trusted that DocuSign’s electronic signatures were secure. My success depended on finding creative ways to conduct business 100% virtually. Last, but certainly not least, I needed to get certified in transcription. How on earth could I expect anyone to take me seriously without the proper education?
What obstacles will you need to overcome? Start conquering your roadblocks today!
Starting Out as a Freelance Transcriptionist
When I first started freelancing, most of my income came from short-term federal contracts I had won through the government’s procurement process. I was constantly looking for the next gig and spent so much time on bidding, paperwork, and other administrative tasks. I soon realized this was time I needed to be spending on paid work, actually transcribing! There were benefits though. I had proven to myself that I could achieve my goal as a transcriber. The government contracts also gave me a lot of experience in several different types of transcription. And the best part was connecting with really great people, many of whom I still keep in touch with more than a decade later.
What I Learned About Transcription Work
My experience as a freelance transcriptionist taught me that smaller governments paid more and required less paperwork and oversight. This meant I could spend a lot more time transcribing (the work that made me money) and less time managing the contracts. But I also learned that smaller governments were more hesitant to hire individual freelancers and in order to get their business, I needed to establish myself as a company. So, I started my own company.
What have you learned? Think about how you can apply those lessons to starting your own transcription company.
Goal Accomplished!!!
Today, (12 years later at the time of this writing) I have clients throughout the United States. I also have a professional and dedicated team I can depend on to consistently provide my clients with the customized services that they deserve and have come to expect from my company. And I’m proud to say that all of my new business comes from referrals, no advertising budget needed!
I’m eager to teach other freelance transcriptionists everything I’ve learned along the way. Starting a transcription company is a lot of work, but the rewards far outweigh the struggles. And the sooner you get started, the sooner you’ll start accomplishing your goals.
Full Time Transcription: The Perfect Career for Work-Life Balance
Related Reading
Follow my new blog, Tips For Transcribers, where I share about the mistakes I’ve made, lessons I’ve learned, and the resources that have helped me get to where I am today. You can also download my free guide “How to Start a Transcription Company in 30 Days.” My guide breaks down startup tasks into easy and manageable pieces. It’s also packed with tools, resources, and best practices for getting started. Download the free guide and follow my blog for more tips and resources.
