Starting a business now: Dumb idea?

• Starting a business now: Dumb idea? - Curious Georgette
  • No idea is "dumb" - go for it. I have and it worked out well. sm - MT is ME
  • Just did it... - pdo
  • I think a lot of the private practice docs like smaller ones. - MslaMT
  • Big MTSOs aren't always attractive to - private practices. sm
    • Administrative tasks are there - whether you are digital or pick-up
      • No, it's not equivalent at all if you have - proper setup. sm
  • Go for it, I am planning to send out a brochure - sm -
  • If you don't try, you won't make it - Patti
    • I agree with this post... - I also think if you get a good
  • There are still a lot of small companies that make it...nm - blondie

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I've been in your shoes, though many years ago, and I had 12 years experience before I had the guts to go solo. 

There is so much more that you need to know beyond the specialty you'll be transcribing.  You need to know how to run a small business.  Things like zoning laws - I kid you not; there are still places where it is technically illegal to work in your home.  Do you need a license?  Do you know the tax implications?  Do you know the insurance/liability implications?  Are you adequately capitalized?  You'll need backup equipment, supplies and something to live on until you start getting paid.  Banks don't like to lend to small transcription services because they so often fail.  As another poster said, contracts are difficult, if not impossible to enforce.  Are you aware of regulatory issues like HIPAA (especially for the speciality you have chosen)?  Are you technically savvy?  Not all offices use tapes with pick-up/delivery of work anymore.  Do you know what you need to make to live?  Sure you could undercut the competition, but can you live on what you'd make?  Do you have someone you trust to cover for you if you are sick, the power goes out or you just want a day off?  There's so much more, but I'm sure you are getting the picture.

Look for a business college, junior college/city college or regional state university in your area that offers classes for small business owners.  Is there an office of the Small Business Administration (government agency - your tax dollars at work) or SCORE (Service Core of Retired Executives) in your area that offers classes?

You are looking to do a tough thing.  I'm not sure I'd want to do it again, but I don't regret the years I did it.  Give it some more thought.  Best of luck to you.

MY SHRINK KEEPS ASKING ME IF I HAVE TRIED GETTING MY OWN ACCOUNTS VERSUS WORKING FOR A NATIONAL....(we are working on how to better handle life stressors).  (MQ?)  Anyway, I always tell him, yes, I have thought about it and I do know of two MTSOs as aquaintances.  I told him I am getting closer and closer to sending letters out to these MTSOs letting them know I am working as an MT and ask if they have any overflow work, to keep me in mind.  I told him I thought that would be the first step as I don't have a clue as to what equipment they use and how you go about the whole deal versus what I am doing now (wav files over internet). 

I am sure some of you who are or were MTSOs could clue me in as to how it is done, equipment wise, and what is involved.  I already know about the tax issues as we have had two small businesses previously. Is it still done with tapes that you pick up and what kind of equipment for that, or can it be done over the internet as per the nationals?

Thanks,

In the dark here.

Need some advice, please.  I am starting a small company and I want to market myself to be able to take overflow work from larger companies (or hospitals/clinics/medical centers) to give and send out to my group of MTs and QAs.  I do not want the hassle of trying to approach the large hospitals, clinics, medical centers, themselves and I do not have the capital to purchase my own dictation system or program. 

I was thinking of going to the MT conventions and networking there but was not sure who/what companies attend these conventions.  Does anyone have any ideas or can anyone point me in the right direction?  I would appreciate any advice anyone could give to me.  TIA

Maria Maz

You could do all kinds of stuff (do a Google search under virtual assistant, there are some webpages that explain stuff).  U-Haul I believe also hires people to do phone customer service from home.  If you look on guru . com they have people who advertise for odd jobs and lots of them are virtual assistant kind of stuff.

Just some ideas.  You could also do daycare, pampered chef, that kind of stuff.  :)

First of all, I have worked for several nationals in the past few years, and equipment has always been provided.  I currently have a f/t position with a national that I use my own personal computer for, they just put their software on it.  I had what I needed already, as far as foot pedal, Expander program, etc.

I have just been sort of rolling ideas around in my head about possibly starting up something small perhaps on a p.r.n. basis just to bring in a little extra income.  As I am still just mulling this around in my mind, my questions are:  How do I go about getting started? Do I try to purchase equipment first, or start out using tapes? I am worried about spending the money and not having any takers, so I am thinking, I should send out some sort of letters first; but, without having the equipment already, how do I tell them I plan on doing their transcription.  Maybe mention tapes first, and tell them I have plans to go digital after I get up and running? These are all just things I wonder about.  If anyone has any ideas, please feel free to email me with any advice. 

I have been an MT for 16+ years, but as I said, I have always had all of the stuff provided for me and just don't know how to start. 

Thanks in Advance!

If you make a mistake while typing and you know it, do you correct it then, or do wait until you spellcheck to correct ?   I tend to correct it when I see it, but began to wonder if it would be more productive to wait until I run spellcheck to catch it.

From what I gathered on Google, it is transcribing what the court reporter types into a readable document.

Hi!  If you are responding to a job posting on the job seekers board and you hit "apply now," does it actually go to the person who is looking to hire or do you have to send it as a completely separate e-mail.  I'm asking because there is no identifying information when you reply to the ad.  Thanks!

I have a CRNP who must think MTs are not very intelligent.

So far, she has spelled: passed (not once, but twice!), spleen, and clicks.