Page 328 - IMDR JOURNAL 2023-24

IMDR’s Journal of Management Development & Research 2023-24

engagement cakes during the festive season.

Next Steps: Strategies for Business Expansion
Ms. Rachana's vision extends beyond her current success. She recognizes the immense

potential for expansion and has outlined compelling strategies to propel her business forward.
Human Resource- The solopreneur extraordinaire, acknowledges the need for support as she

navigates expansion. Establishing a dedicated workspace and assembling a talented team will
allow her to delegate tasks and focus on strategic growth initiatives. Her initial small team

can gradually expand, fostering a collaborative and dynamic work environment.

Beyond Digital Marketing- Ms. Rachana talks about the power of direct engagement.
Participating in Flea Markets, Exhibitions, and Business Expos will serve as valuable

opportunities to enhance brand visibility. By creating an eye-catching stall design,

incorporating interactive displays, and offering enticing promotional materials, she aims to
leave a lasting impression on potential customers.

B2B Sales- Ms. Rachana envisions strategic partnerships with event organizers, opening
doors to bulk orders and corporate clientele. This B2B focus holds immense potential for

scaling her business and reaching new customer segments.
Targeting the Emerging Market- As highlighted earlier, the sugar-free and keto dessert

market presents a fertile ground for growth. Ms. Rachana plans to capitalize on this trend by

developing a unique product specifically designed for this market. In addition, she has crafted
marketing strategies tailored to effectively penetrate this segment and garner a loyal customer

base.
Baking a Brighter Future for Viksit Bharat:

Ms. Rachana's journey beyond delicious cakes embodies the true spirit of Viksit Bharat by
contributing to both economic growth and social progress. As a woman entrepreneur, she

challenges stereotypes and paves the way for aspiring women. Her success story ripples

outwards, driving social progress in multiple ways:
1. Economic Empowerment: Cake My Day, shortly, will strengthen the local economy by

creating jobs, sourcing ingredients locally, and contributing to the bustling startup ecosystem.

Ms. Rachana will surely inspire other women to become self-reliant through
entrepreneurship, fostering financial independence, and building a more inclusive economy.

2. Social Upliftment: By employing and mentoring women, Ms. Rachana will empower
them with skills and confidence, breaking down gender barriers and contributing to a more

equitable society. Her commitment to ethical practices fosters positive change within the
community.

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