Transcription is converting audio and video into text. This business idea is about becoming a part-time audio and video transcriber and making some extra cash.
How Much Can You Make?
On average, 1 minute of audio costs $0.5 – $1 (around R7.50 to R15) to transcribe. You will be able to make $10-20 per hour (R150 – R300). Don’t get so excited though. Sometimes, audio quality sucks (focus groups when a lot of participants talk to each other without microphones), this means it will take longer to transcribe.
Different people and different companies need transcription services for different purposes:
- Marketing companies conducting focus groups;
- Popular YouTubers adding captions to their videos;
- Bloggers, journalists taking interviews;
- Speakers, influencers, other experts.
If you are on a low budget, you can use your laptop or a computer, but if you are serious about this idea, this is what you will will need to buy a nicer keyboard and headphones
Marketing Your Services
There is no need to build a website or buy ads from Google and put a lot of effort into promoting your service, just create an account at freelance marketplaces such as Fiverr and let people know that you have several hours per day to assist them.
If it doesn’t work, use other marketplaces.
- YouTube is pretty good at recognizing human speech and creating automated captions. Don’t miss this opportunity. Whether you have an audio or video file, upload it to YouTube and reap the benefits. Don’t share the video though: make it private and delete after the job is done.
- Sometimes audio files are of a bad quality. You might be willing to buy more professional headphones or even an acoustic system.
- If the file is inaudible, don’t be afraid to decline an offer politely.
- Learn blind typing and become a faster typist in 14 easy steps. This will save you time and help make more money in a shorter time.