When an individual or an organization decide to author a cookbook they are making a decision to launch a business. As with any new business there are guidelines to follow to ensure success. Here are a few elements you need to think about when producing a cookbook.1.) A written business plan--who is your book going to target? What price will it be? In what formats will you offer the book? Where do you plan to sell it? What is your overriding goal in publishing this book?
These are just a few of the questions that must be answered before launching a book; otherwise there is no road map and you are likely to get lost along the way. During our Cookbook University we spend considerable time on the necessity for developing a business plan before you begin.
2.) Financing--almost all small businesses that fail do so because they were under capitalized. If your book is intended to operate for the first year on book sale revenue without anything else you will not make it. Even though you can sell books year round there is no doubt that the fall months are the "biggies" when it comes to revenue generation. Plus, you have to utilize marketing dollars if you want the target market to know your book exists.
3.) Accounting--I have found in my business that the value of a good accountant and accounting system is of uppermost importance in knowing whether I am making money or losing money. Do not launch a cookbook without this key position being filled. It doesn't matter if the accountant is a volunteer or a paid individual but it does matter that they know what they are doing.
4.) Commitment--In my experience it always takes longer to get a project started and on track than expected. Without a strong commitment to the finish line you are likely to fail. No business can succeed without an extraordinary effort and commitment.
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