The Business Book

177

Organizations recognize the power
of feedback and often encourage
customers to post comments
online. Fashion retailers, furniture
manufacturers, and retail stores—
even dental and medical practices
—invite customers to comment on
and share their experiences. Small
companies benefit from this trend,
since their personal service is more
likely to generate positive reviews.

A more personal service
The Internet has removed the
“middle man” from many areas of
business. The travel industry is one
example, since travelers can now
book direct with airlines. Another
example is the book industry, where
authors can self-publish via the
Internet, taking their fiction straight
to readers without the need for
literary agents or big publishing
houses. The runaway success Fifty
Shades of Grey by E.L. James began
life as a free ebook on the Internet.
Previously, mass production and
limited space in brick-and-mortar
stores dictated the range of goods
a business could stock. Now, small
businesses selling niche products
or services can thrive because the
Internet connects them to
consumers looking for exactly these

offerings. People wanting to buy a

spare part for an old car, or a rare

edition of a book, can search and

buy from anywhere in the world.

Small companies can also thrive

through customization. Digital

methods of production and online

retailing enable narrowly targeted

goods and services to be profitable.

Customized production of a single

item is possible—from personalized

books, mugs, and clothing to

customized cars, furniture, and

even houses, which can be

designed and tailored online.

Customers can get exactly the

item they want, delivered at the

right time and at a price they are

willing to pay. Websites offering

personalized printed items are

small businesses with software

that allows consumers to approve

the final design and send it straight

to print, so employees are only

needed for packing and shipping.

WORKING WITH A VISION

Although small businesses can

thrive on the Internet through their

own websites, many now use portal

websites as a “store window” to

reach a wider audience. The British

company Not on the High Street is

one such portal. Started by two

working mothers as a marketplace

for personalized creative items, it

launched in 2006 with 100 small

businesses (many of them women

working at home). In 2013, the

business had grown to include

1,600 partners and had a turnover

of more than $23 million.

Not on the High Street is

successful because it combines the

idea of personalized products with

an awareness of the producer, giving

buyers the chance to select a local

maker. Although it promotes global

trade, the Internet can enable a very

personal form of communication

between buyer and seller, regardless

of size or scale. ■

The Web does not just

connect machines, it

connects people.

Sir Tim Berners-Lee

UK inventor of the World

Wide Web (1955 –)

Small businesses can receive market information just

as quickly as large companies thanks to the Internet,

but due to their size are often better placed to respond

quickly and adapt to changes in demand, supply niche

products, and deliver a more personalized approach.

Small

business

Online

market

information

Large

business