One example of a successful small business is "Warby Parker," an American online retailer for prescription glasses and sunglasses. Warby Parker was founded in 2010 by four friends, Neil Blumenthal, Andrew Hunt, Jeffrey Raider, and David Gilboa, with the aim of disrupting the eyewear industry by offering affordable and stylish eyewear options.

Warby Parker's success can be attributed to several key factors:

1. Innovative Business Model: Warby Parker introduced a direct-to-consumer model, cutting out middlemen and offering high-quality eyewear at a fraction of the price of traditional retailers. By designing their own frames and working directly with manufacturers, they were able to offer affordable prices without compromising on quality.

2. Socially Conscious Approach: For every pair of glasses sold, Warby Parker donates a pair to someone in need through their "Buy a Pair, Give a Pair" program. This socially conscious approach resonates with consumers, attracting a loyal customer base and positive brand image.

3. Strong Online Presence: Warby Parker's online platform allows customers to try on glasses virtually, offering a seamless and convenient shopping experience. They also provide free home try-on kits, allowing customers to try multiple frames before making a purchase. Their online presence, combined with excellent customer service, has helped them establish a strong brand identity.

4. Physical Retail Expansion: While Warby Parker started as an online retailer, they recognized the importance of physical retail presence. They strategically opened brick-and-mortar stores across the United States, providing customers with the opportunity to try on glasses in person and receive personalized assistance from knowledgeable staff.

5. Brand Differentiation: Warby Parker's unique and stylish frame designs set them apart from traditional eyewear brands. They have successfully positioned themselves as a trendy and affordable alternative, attracting a younger demographic seeking fashionable eyewear options.

Warby Parker's success is evident in their growth and recognition. They have expanded their product offerings beyond eyewear, including contact lenses and eye exams. The company has raised significant funding and has been valued at over $3 billion. Moreover, they have been recognized as one of the most innovative companies by Fast Company and have received numerous accolades for their socially conscious business approach.

References:

• Warby Parker website: https://www.warbyparker.com/
• Forbes: "How Warby Parker Changed the Way We Buy Glasses" - https://www.forbes.com/sites/forbestreptalks/2019/12/09/how-warby-parker-changed-the-way-we-buy-glasses/?sh=5f5d0c1a3e3e
• Fast Company: "The Most Innovative Companies of 2020" - https://www.fastcompany.com/most-innovative-companies/2020/sectors/retail