Personal Financial Cookbook Analysis

1228 Words 5 Pages
It started at a dinner with friends. Just ended my engagement with my employer and after a closer analysis of my financial situation, I realized that I could stop working. Of course, everyone wanted to know what my plans were and number one on my list was a financial cookbook. No one moves from their parents without a cookbook in their luggage. However, a proper and complete personal finance cookbook would result in an immense difference compared to being able to boil an egg, so why didn’t such a cookbook exist?
My reason for not starting was a need for support from a financial expert. Luckily, later that evening and after a little too much red wine, one of my friends revealed that her father could help and that he actually had been teaching
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I ended up studying around 50-60 new books in addition to those I already had read. The research took months, but I did find a number of un-covered areas. Areas such as proper financial calculations, decision schemas, setting goals, understanding economics, ideas on how to handle life’s important decisions, how to plan your retirement, and a lack of certainty, that these authors actually covered all financial areas. As a consequence, I engaged in research on consumption patterns, brushed up my lessons in economics, strategy, decision making, etc. At this point I had already spent several months preparing and doing drafts. If you want to deliver a decent non-fiction book research will take considerable time, the same will probably be true for fiction.
Fortunately, I discovered Linked Ins author groups, a place for help and inspiration. However, the first article that caught my eyes were chocking; how to write a book in less than a week. Who would ever want to read that kind of thoughtless junk? I started wondering if that’s the kind of books that are flooding Amazon and how that has influenced publishing. Due to free on-line publishing without any quality control, the book market is flooded with books. Unless your book stand out both marketing wise and in content it will drown in this sea of
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It might surprise that the retailer profit for POD books often is quite low. One of our local bookstores revealed their price and profit list, and in the worst cases their profit margin is as low as 12.5%. Compare that to certain of the on-line stores immense profits of up to 65%. In consequence, it seems like we substitute these online retailers war against normal bookstores.
One final lesson, when I was categorizing my book, I discovered that all my categories added up to around 10-15.000 books and it became obvious that finding my book would be as finding a needle in a haystack! Engage in a thorough market research before starting, you may face an overwhelming marketing task.
That was my lessons. 2 years of work and no sales, Think it through before engaging in such a venture. So far my only bonus has been the ideas for boosting my finances that I found in the process, ideas that luckily will and have saved us thousand of dollars each

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