It’s time to get up and make your dreams a reality. There are many people who want to start their own business, but they don’t know how. This blog post is going to give you step-by-step instructions on how you can start your very own legal transcription business!
The best part about doing this type of work from home is that it does not require any special skills or experience. You only need a willingness to learn and a drive to be successful.
As far as equipment is concerned, all you need is a computer with internet access, some basic office supplies, and an hour or two each day for completing online assignments. You’ll be able to set your hours as well as choose what kind of equipment suits your needs.
If you’re interested in learning more about starting a home-based transcription business then keep reading because you are in the right place.
What Is Legal Transcription?
Legal transcriptionists are hired by legal firms to quickly and accurately type transcripts of court hearings, depositions, interviews with clients, witnesses, family members, and police interrogations onto paper or into electronic files.
The forms of media used can vary widely; some companies use software that allows for editing while others do not. Legal transcriptionists may also type up transcripts of depositions, interrogations, and meetings.
Transcriptionists will typically use computer software to record the sound files. Accuracy is of utmost importance in this because their work is often used as evidence in a court of law.
Legal transcriptionists must have excellent typing skills, good grammar and punctuation, and knowledge of legal terminology. They must also be able to work independently as well as part of a team.
Their main focus is on being accurate while maintaining a fast-paced environment.
There are commonly two types of legal transcriptionists: those who work for a company, and those who are self-employed. The ones who work for a company typically have more benefits, such as health insurance and paid time off (which is to be expected). However, the self-employed transcriptionist may have higher income potential, but we will go more into that in a minute.
Legal Transcription Equipment Needed
The equipment needed for legal transcription can vary depending on your needs. In general, you will need a computer, a word processor, and a good quality microphone.
In order to get started in legal transcription, you will also need to be certified. The National Court Reporters Association (NCRA) offers the Certified Legal Transcriptionist (CLT) designation. This certification is recognized nationwide and it demonstrates that you have the skills and knowledge necessary to work as a legal transcriptionist.
Before you start an independent legal transcription business it’s important to understand that you will probably need two different types of equipment – a good quality digital recorder and transcription software.
The recorder is used to capture the audio from legal proceedings (although in many cases you will simply be receiving the audio files already recorded), and the transcription software is used to convert the audio files into text documents.
There are many different types of transcription software on the market, so it’s important to do your research before you make a purchase.
The audio recorder is the most important piece of equipment you will need for legal transcription. It should produce high-quality recordings with little background noise. If possible, look for a digital recorder that allows you to upload your audio files directly into your computer so you can start making your transcriptions right away.
Since the majority of legal transcription is now done through voice recordings, a good quality microphone is essential. Look for a microphone that is specifically designed for speech capture. It should be able to filter out background noise and produce clear sound recordings.
Outside of those couple of things, that’s all that’s really needed to get going with your own transcription business.
Tips On Starting Your Own Transcription Business
- Have a high level of accuracy and attention to detail. Although some transcription services only require a general knowledge of punctuation and grammar, most also want their transcribers to understand legal terminology and contractions as well as the differences between business, technical and medical language.
- Be organized. Organize your home office with filing systems that keep track of completed work as well as paper copies and electronic files of work in progress.
- Have a fast, reliable computer with transcription software and a high-speed internet connection.
- Become familiar with the types of transcription jobs that are available and be prepared to take on any type of project that comes your way. Different projects require different levels of knowledge and expertise.
- Work from home and set your own hours. In general, transcriptionists should be able to type at least 60 words per minute while listening to audio files and have a minimum typing speed of 50 words per minute while proofreading transcripts.
- Become a Certified Legal Transcriptionist (CLT) through the National Court Reporters Association or an Accredited Legal Transcriptionist (ALT) through the International Association for Healthcare Documentation Integrity (IAHDI). These designations can attract potential clients and may help you find work with legal transcription companies.
- Familiarize yourself with the many online resources available to transcriptionists, such as the National Transcription Services Association (NTA) website and the American Society of Transcriptionists (AST) website. These sites offer online forums, job postings, webinars, and other helpful information.
How Much Do Legal Transcriptionists Earn?
The average annual salary for a legal transcriptionist is $43,000. However, this figure can vary widely depending on factors such as experience, skills, and location.
For example, court reporters working in major metropolitan areas can earn up to $65,000 per year. Many legal transcriptionists work from home, and this offers a number of advantages.
For one, you can often set your own hours. Additionally, working from home can save on commuting costs, and it’s a great option for people with families.
At some point, you can even begin to subcontract transcriptionists of your own to really begin to earn some major income making this a much more passive way to make a very good living.
The Benefits Of Owning Your Own Transcription Business
There are many benefits of owning your own transcription business. Perhaps the most obvious benefit is that you are in charge of your own destiny. You set your own hours, make your own rules, and decide how much money you want to make.
You also have the satisfaction of knowing that you are self-employed and that your success or failure depends solely on your own efforts.
Another big benefit of owning your own transcription business is that you can work from home. This means that you can avoid the hassles and expenses of commuting, and you can spend more time with your family.
It also means that you have greater control over your work environment, which can be important if you are easily distracted or need a quiet working environment.
Yet another advantage of owning your own transcription business is that you can choose the clients you work with. This gives you the freedom to work with clients who are easy to work with, pay on time, and provide interesting and challenging work.
It also allows you to refuse work that you don’t want to do or that you don’t feel qualified to do. It’s important to always keep in mind that this is your business and you are more than able to fire clients that you are simply not happy working with, whatever the case may be.
Finally, owning your own transcription business gives you the opportunity to make a good income. Depending on your skills and experience, you can earn anywhere from a few hundred dollars per month to a six-figure income. And if you are willing to work hard and put in the effort, there is no limit to how much you can earn.
Learn More About Legal Transcription
I hope you found this article helpful! If you’re interested in learning more about starting a legal transcription business, head over to my complete review of this awesome course.
The best part about all of these courses is they’re online meaning anyone can take them from anywhere as long as you have internet access. If you have any questions don’t hesitate to reach out! I would be happy to help!