We’ll get right back to dive deeper into the videos themselves, but there has indeed been a spate of those YouTube channels where the content creator pretty much just runs through some ways through which people can earn money online, from home. At some or other point they talk about transcription, but they almost always make it appear to be much easier than what the reality actually is. If for instance they point you to an online transcription site that pays transcriptionists (or transcribers) $10 per audio hour, the YouTuber will tell their viewers that they can make $10 per hour, but that’s not quite the case.
No matter how fast you type, there is no way you’re going to type out an audio hour in an hour! It takes so much longer, because of considerations such as some inaudible parts which you’d go on to replay over and over again, trying to make out what was being said, as well as having to adhere to a style guide which basically just adds more time to the overall job.
Bringing things closer to reality reveals that an audio file of around six minutes takes at least one hour to transcribe if you’re a beginner, while you might be able to complete it in 40 minutes if you get a file with clear audio and you’ve had a bit of practice, making you an intermediate transcriptionist.
So with that said, how do work-from-home transcriptionists double and even triple their income?
This brings us back to the content I led with in introducing the topic, which of course would be YouTube videos. Many transcriptionists supplement their earnings by documenting their journey as online transcriptionists, using screen recording software similar to that you can learn how to use on sites like https://www.loom.com/blog/how-to-screen-record-mac, and in some cases to create content they can monetize via YouTube ads. There’s a gap in the market for this if you choose to focus on sharing the reality of this type of work, as explored above.
In addition to the ad revenue you will eventually go on to generate as you share videos about your journey, you can follow the lead of those transcriptionists who take advantage of the subsequent opportunity to refer new transcriptionists to the platform they’re using. They do this via their unique affiliate link and get remunerated from that platform.
Taking Matters into their Own Hands
YouTube videos and referrals can only add so much more earnings to the primary earnings of an online transcriptionist. Those transcribers who are taking matters into their own hands are the ones tripling their earnings in some instances, using tools such as Callmart – an app to earn money taking calls from clients.
The clients are billed real-time by the minute, at a rate set by the transcriptionist who works more directly with clients as opposed to going via a transcription company. It’s more like running a consultancy, with some clients even sourced on popular platforms such as Fiverr, to be re-billed via what would subsequently be the value-added service.