Transcription is a work on transfering audio to text. Some people might think that this is an easy job. As long as you can type very fast and have normal ears, you’ll go along the way. But, no it’s not just so. You need some knowlegde to have an accurate transcription.
You need to think. There are so many conditions and factors in being a transcriber. First, you must have right tools, forget all outdated audio tapes, nowadays digital audio files are mostly used. But, who knows you’ll get the offer of old audio tapes. Second, you must be ready for the kind of tapes, is it narration, monolog, interview, or conference, in which has more than two speakers.
Dialect is also another problem, as much as how fast the speaker talk. And last but not least, topic is important to consider. If you think you can handle that topic, go for it. Medical transcription, for example, needs to be as accurate as possible, and therefore you must have knowledge of medical terms, which mostly unknown to non medical experts.
Risk. Though usual program like windows media player or other similar is usable to work on a transcription, some other tools are recommended. Transcriber has a responsibility of his transcript. Choosing to put inaudible words with what you think it might be possible, is a big risk. That’s why research and modern tools are sometimes needed.