Creating your Red Velvet Pound Cake is a straightforward process. Follow these easy steps:

1. Preheat your oven: Set your oven to 350°F (175°C). Grease and flour a 10-inch bundt pan or tube pan.
2. Mix Dry Ingredients: In a medium bowl, sift together the flour, cocoa powder, baking powder, baking soda, and salt.
3. Combine Wet Ingredients: In a large bowl, mix the vegetable oil, granulated sugar, and buttermilk until well combined.
4. Add Eggs: Beat in the eggs one at a time, ensuring each is fully incorporated before adding the next.
5. Add Food Coloring: Mix in the red food coloring and vanilla extract until the batter is uniform in color.
6. Combine Mixtures: Gradually add the sifted dry ingredients to the wet mixture, stirring until just combined. Be careful not to overmix; a few lumps are acceptable.
7. Pour into Pan: Transfer the batter into the prepared bundt or tube pan, smoothing the top with a spatula if needed.
8. Bake: Place the pan in the preheated oven and bake for 55-60 minutes, or until a toothpick inserted in the center comes out clean.
9. Cool: Remove the pan from the oven and allow the cake to cool in the pan for 15-20 minutes. Then, gently invert the cake onto a wire rack to cool completely.
10. Prepare Frosting: While the cake cools, beat the softened cream cheese until smooth; gradually add powdered sugar and lemon juice. Mix until the frosting is creamy and spreadable.
11. Frost the Cake: Once the cake is completely cooled, spread the cream cheese frosting generously on top and drizzle down the sides if desired.

You now have a stunning Red Velvet Pound Cake ready to impress!