How to Start a Data Entry Business?

Earlier, piles of papers, stacks of files, shelves full of folders, scribbled notes everywhere, and a bulky typewriter as the centrepiece of the table was the scene inside a data entry business office. But gone are those days when people would visit these secluded shabby shops to get their typing work sorted.

Today, in this 21st century of technological advancement, the office scene has been replaced by leaps and bounds. The bulky typewriter that would shudder at the sight of papers has been replaced with the desktop or the laptop, thus making this option one of the best business ideas for professionals looking forward to starting their own small-scale business. Diving into the subject deeper shall surely answer your question about how to start a data entry business.

But before we begin with the steps that can lead to a successful data entry business, let’s check out what all the data entry business implies.

• Large amounts of databases that involve spreadsheets and documents.
• Purpose being record-keeping or analysis of data given.
• Work usually involves the input of data through various mediums of information into software like Microsoft Access, Microsoft Excel, or other company-built applications for internal use.

We are sure this answers your question of how to start a business when it is into the field of Data Entry. Let’s check the stepwise plan now.

1. Getting Started

Every business can work phenomenally well only when it has a plan. It may not be a fool-proof plan but a plan has to be in place. Data entry business plans can work out rather easily only if you are a keen observer and have a good hand at typing. A good hand at typing is very well understood, but why do we say a keen observer is because this field has many scams to its credit. Thus, when venturing into this business, you must keep your eyes and mind wide open. Cross-verification from all digital platforms can be a good way to keep the scams at bay. Testing your typing skills through various online typing tests can be fruitful for getting started.

2. For Work

When you are brainstorming some shortlisted new business ideas, and have closed down on data entry business you should start searching for work online. Just chalking out the plan on paper shall not help. You need to search and analyse various sites, portals, and groups on social media. There are numerous websites that offer work to newbies and experienced professionals. But you need to keep an eye on its authenticity and standards as various websites promise to offer work by either demanding money or not paying after completion of the assigned tasks. Thus, building good connections through social media platforms and groups can land you on the right pages.

3. The Setup

Data entry is one of the best small business ideas from home that necessarily does not need an office setup, to begin with. You can initiate the process from your home itself. This not only saves cost, but you can also relax and take a break whenever needed. The data entry process can be tiresome and tedious; thus taking regular intervals is always suggested.

The setup for operating a data entry business needs a desktop or a laptop with a multi-user operating system, a good data connection with high speed, a high-quality scanner, and also a printer if need be. So this equipment can be arranged in a small room too.

4. Human Capital

Out of various small-scale business ideas, the data entry option can work perfectly for a sole proprietor. This business does not need a lot of helping hands at least in the initial stage. You can work single-handedly for companies and websites as long as the assignments are manageable.

Once you start receiving a good regular flow of work, you can plan on outsourcing the work or hiring another partner.

5. Black and White

All small business ideas come with a list of compulsory documentation and regulations. A business big or small must be documented with the prescribed government bodies. It not only regularises the business but also builds trust amongst the clients you approach for generating business. The tax certificates and licenses should be updated regularly to keep the operations uninterrupted.

6. Scope of Operations

While planning to grow and expand after rigorous hard work one can transform small profitable business ideas into something huge and valuable. Catering to the data entry business one can utilise technological advancements and globalisation for expanding the horizons. India’s rapid growth through the IT sector is directly proportional to the increase in demand for the data entry business. Data entry management can flourish their venture from basics of data entry management like form filling, sheet management, toandedious management information systems.

7. Sheet

One of the most interesting aspects of this business is its low investment. Thus data entry becomes one of the ever-growing and unique business ideas in the market. As this business can be operated at the ease of your homes through freelancing options, it does not require high capital. Also, the margins and profit ratios are always on the higher side, as the overheads and expenses are the bare minima in comparison to other business options, thus tallying the balance sheet of your business on the profitable side.

8. Branding your business

Advertising through various free and popular social media platforms can get you more assignments. Once you start receiving a good flow of work, you can create your website to transform the business professionally. The previous work, client feedback, and other services can be dynamically uploaded on the website that can attract more clients. You can also redirect prospective customers to the website for increasing its traffic and acquiring more work.

Now let’s get enlightened about the types of data entry being operational in the market.

Types of Data Entry

The data entry business is broadly divided into two major types: online data entry and offline data entry. The difference is based upon the availability of the internet and work without it.

1. Online Data Entry

The name of the type itself specifies its features. Using the internet to complete the assigned work is called online data entry. The requisite file and folders are provided by the client to be submitted over a digital platform. Some of the common forms are as follows -

• Database entry
• Numerical data entry
• Accounting and financial data entry
• Data mining
• Insurance formats
• Government schemes data entry

2. Offline Data Entry

Offline data entry simply means completing the typing work without the help of the internet or online information. The types are as follows -

• Converting hard copies into soft copies
• Form filling
• Converting handwritten notes
• Novel typing, etc.

Knowing the forms now will become easier and simpler for you to pick the type of data entry you are looking for.

Conclusion

Lastly, we would give you some concluding important tips to transform your business into a profitable one.

• Keep your investments low initially to gain more profits.
• Establish a trustworthy and viable web presence to vouch for newer clients.
• Once the assignment is completed, ask for feedback from every client and publicise those statements for creating a good reputation.
• Always stay updated with the latest technological advancements and upgraded with the applications and software to be used.

Thus by utilising this strategic plan and aspects, one can establish a good name and fame through the data entry business. Though the market is highly competitive, perfection, honesty, accuracy, and efficiency can generate huge profits for an entrepreneur in this business.

Also read:

1) How to Use Google Adwords for Digital Marketing?
2) Tips & Tricks to optimise the Google Maps Listing for Your Business
3) Is Market Research Useful for a Small Business?
4) Top-10 Things & Technologies that will be trending in the year 2021

Stay updated with new business ideas & business tips with OkCredit blogs in English, Hindi, Malayalam, Marathi & more!
Download OkCredit now & get rid of your bookkeeping hassles.
OkCredit is 100% Made in India.

FAQs

Q. Can you do data entry with no experience?

Ans. Though the field is technical, a person with no experience too can venture into this business and earn profits within no time.

Q. Do data entry jobs really pay?

Ans. Legitimate jobs and assignments taken up after thorough cross-verification can surely pay well. All you need is a good eye for detail and a hang of the technology and its automated tools.

Q. How do companies get data entry projects?

Ans. A few basic computer skills and good typing skills with accuracy can fetch you good projects online. Staying abreast with the online portals can generate new work for you.

Q. Do you need a minimum degree for the data entry business?

Ans. Ideally, companies look for graduates to outsource their work. But many firms hire freelancers or small-scale business owners who are skilled with technical knowledge but have lesser education qualifications.