Peggy Farabaugh started Vermont Woods Studios, an online retailer of fine Vermont made furniture, a few years ago. You might think that an online business selling high value items was bound to fail. But what Peggy and her handful of colleagues have done is to prove that assumption wrong. Her business is thriving and individual online sales average over $2,000. She and her team have developed a model that is well worth you taking a look at. The lessons apply to many small online businesses–and perhaps to big ones, too!
Peggy is based in Vernon, Vermont and recently a team of my strategy students did a consulting job with her as part of their MBA program. One of their recommendations was to use online video to create a more intimate online experience. Peggy has now implemented their idea and you can see the results on different pages of the Vermont Woods Studios website.
One initiative is a video series she has called Bare Naked Business, where she shares the inside story of matters to do with running a small enterprise. I think they’re great. Go take a look at an example of Bare Naked Business–about an office move.