package.json

{
  ...
  "scripts": {
    "server": "NODE_PATH=./src node ./server.js",
    "build": "webpack --config webpack.config.js"
  }
  ...
}

server.js

// Run this using `npm run server`.

// Allows us to import ES6 modules.
require('babel/register')();

var UserProfile = require('components/users/UserProfile');

// render <UserProfile />

UserProfile.js

// This file is src/components/users/UserProfile.js

import Icon from 'components/base/Icon';
import doFunStuff from 'utils/doFunStuff';

// Would normally be:
// import Icon from '../base/Icon';
// import doFunStuff from '../../utils/doFunStuff';
// This is handled by Webpack using resolve.root (or resolve.alias).
// In Node, it's handled by using NODE_PATH=./src

...

webpack.config.js

module.exports = {
  ...
  resolve: {
    // Makes require('components/base/Icon') reference src/components/base/Icon.
    root: __dirname + '/src'
    // Or you could manually specify aliases:
    // alias: {
    //   'components': __dirname + '/src/components/',
    //   'utils': __dirname + '/src/utils/'
    // }
  }
  ...
};