Amit Kumar, unSEXY Presentation

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The document discusses wisdom for small and medium sized businesses (SMBs) across four topics: time, money, economy, and mindset. It notes that SMB owners have little time and juggle many tasks, so products should integrate with their workflows. It also advises understanding SMBs' modest expectations but willingness to invest in growth, as well as the economic challenges they face. Finally, it suggests speaking to SMBs in plain language and gaining their trust through personal recommendations. The document promotes Lexity's platform for merchants to outsource services like onboarding, billing and reporting.

Technology Economy & Finance

Wisdom about SMBs
(and how to apply it)

Amit Kumar @

@akumar lexity.com

app outsource your
platform merchant setup,
focus on your
core product.

Proprietary and Conﬁdential lexity.com

Time

Money

Economy

Mindset
@akumar lexity.com

Time

Always juggling many balls at once

@akumar lexity.com

Time

Always juggling many balls at once

Don’t have contiguous chunks of time

@akumar lexity.com

Time

Always juggling many balls at once

Don’t have contiguous chunks of time

Second chances are harder to come by

@akumar lexity.com

Time

Push notiﬁcations and tasks over email -
instead of waiting for them to login.

@akumar lexity.com

Time

Push notiﬁcations and tasks over email -
instead of waiting for them to login.

Design around the length of a ‘coffee
break’ - that’s how long they’ll have.

@akumar lexity.com

Money

‘Modest’ expectations of success

@akumar lexity.com

Money

‘Modest’ expectations of success

More likely to pay for increased sales

@akumar lexity.com

Money

‘Modest’ expectations of success

More likely to pay for increased sales

Understand ROI, but will take risks

@akumar lexity.com

Money

Provable ROI will gain you fans. Measure
and report (and push this via email).

@akumar lexity.com

Money

Provable ROI will gain you fans. Measure
and report (and push this via email).

Pay attention to price granularity. Flat fee
pricing might not be most proﬁtable.

@akumar lexity.com

Economy

Recession is real

@akumar lexity.com

Economy

Recession is real

Many SMBs live hand-to-mouth

@akumar lexity.com

Economy

Recession is real

Many SMBs live hand-to-mouth

A lot do go out of business

@akumar lexity.com

Economy

Model organic churn separately from
non-organic churn.

@akumar lexity.com

Economy

Model organic churn separately from
non-organic churn.

Understand realities of credit card
management.

@akumar lexity.com

Economy

Model organic churn separately from
non-organic churn.

Understand realities of credit card
management.

Model your pricing to capture the reality
of failure.
@akumar lexity.com

Mindset

SMBs are smart - in their own domain

@akumar lexity.com

Mindset

SMBs are smart - in their own domain

Unfamiliar jargon comes in the way

@akumar lexity.com

Mindset

SMBs are smart - in their own domain

Unfamiliar jargon comes in the way

Put a lot of trust in ‘people they know’

@akumar lexity.com

Mindset

Build simple, but not simplistic. Use
screenshots and hold their hand.

@akumar lexity.com

Mindset

Build simple, but not simplistic. Use
screenshots and hold their hand.

Raise awareness through domain
inﬂuencers, organizations and services.

@akumar lexity.com

Lexity’s a la carte suite of functionality to
turn merchants into customers.

app • distribution
• onboarding
platform • billing
• instrumentation
• reporting stack
• user experience
pick any and all you need!

Proprietary and Conﬁdential lexity.com

Are ecommerce merchants your customers?
Lexity’s App Platform was made for you.

Get in touch.

Amit Kumar
Founder & CEO, Lexity

@akumar / amit@lexity.com

@akumar lexity.com

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2 0 1 8 A N N U A L R E P O R T To our shareowners: Something strange and remarkable has happened over the last 20 years. Take a look at these numbers: 1999 3% 2000 3% 2001 6% 2002 17% 2003 22% 2004 25% 2005 28% 2006 28% 2007 29% 2008 30% 2009 31% 2010 34% 2011 38% 2012 42% 2013 46% 2014 49% 2015 51% 2016 54% 2017 56% 2018 58% The percentages represent the share of physical gross merchandise sales sold on Amazon by independent third- party sellers – mostly small- and medium-sized businesses – as opposed to Amazon retail’s own first party sales. Third-party sales have grown from 3% of the total to 58%. To put it bluntly: Third-party sellers are kicking our first party butt. Badly. And it’s a high bar too because our first-party business has grown dramatically over that period, from $1.6 billion in 1999 to $117 billion this past year. The compound annual growth rate for our first-party business in that time period is 25%. But in that same time, third-party sales have grown from $0.1 billion to $160 billion – a compound annual growth rate of 52%. To provide an external benchmark, eBay’s gross merchandise sales in that period have grown at a compound rate of 20%, from $2.8 billion to $95 billion. Why did independent sellers do so much better selling on Amazon than they did on eBay? And why were independent sellers able to grow so much faster than Amazon’s own highly organized first-party sales organization? There isn’t one answer, but we do know one extremely important part of the answer: We helped independent sellers compete against our first-party business by investing in and offering them the very best selling tools we could imagine and build. There are many such tools, including tools that help sellers manage inventory, process payments, track shipments, create reports, and sell across borders – and we’re inventing more every year. But of great importance are Fulfillment by Amazon and the Prime membership program. In combination, these two programs meaningfully improved the customer experience of buying from independent sellers. With the success of these two programs now so well established, it’s difficult for most people to fully appreciate today just how radical those two offerings were at the time we launched them. We invested in both of these programs at significant financial risk and after much internal debate. We had to continue investing significantly over time as we experimented with different ideas and iterations. We could not foresee with certainty what those programs would eventually look like, let alone whether they would succeed, but they were pushed forward with intuition and heart, and nourished with optimism. Intuition, curiosity, and the power of wandering From very early on in Amazon’s life, we knew we wanted to create a culture of builders – people who are curious, explorers. They like to invent. Even when they’re experts, they are “fresh” with a beginner’s mind. They see the way we do things as just the way ...

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Amit Kumar, unSEXY Presentation

1. Wisdom about SMBs (and how to apply it) Amit Kumar @ @akumar lexity.com

2. What’s Lexity? @akumar lexity.com

3. @akumar lexity.com

4. @akumar lexity.com

5. @akumar lexity.com

6. @akumar lexity.com

7. app outsource your platform merchant setup, focus on your core product. Proprietary and Conﬁdential lexity.com

8. @akumar lexity.com

9. Time Money Economy Mindset @akumar lexity.com

10. Time @akumar lexity.com

11. Time Always juggling many balls at once @akumar lexity.com

12. Time Always juggling many balls at once Don’t have contiguous chunks of time @akumar lexity.com

13. Time Always juggling many balls at once Don’t have contiguous chunks of time Second chances are harder to come by @akumar lexity.com

14. Time @akumar lexity.com

15. Time @akumar lexity.com

16. Time Push notiﬁcations and tasks over email - instead of waiting for them to login. @akumar lexity.com

17. Time Push notiﬁcations and tasks over email - instead of waiting for them to login. Design around the length of a ‘coffee break’ - that’s how long they’ll have. @akumar lexity.com

18. Time Push notiﬁcations and tasks over email - instead of waiting for them to login. Design around the length of a ‘coffee break’ - that’s how long they’ll have. Get the experience right, or get on the phone and help them out. @akumar lexity.com

19. @akumar lexity.com

20. @akumar lexity.com

21. Money @akumar lexity.com

22. Money ‘Modest’ expectations of success @akumar lexity.com

23. Money ‘Modest’ expectations of success More likely to pay for increased sales @akumar lexity.com

24. Money ‘Modest’ expectations of success More likely to pay for increased sales Understand ROI, but will take risks @akumar lexity.com

25. Money @akumar lexity.com

26. Money @akumar lexity.com

27. Money Provable ROI will gain you fans. Measure and report (and push this via email). @akumar lexity.com

28. Money Provable ROI will gain you fans. Measure and report (and push this via email). Pay attention to price granularity. Flat fee pricing might not be most proﬁtable. @akumar lexity.com

29. Money Provable ROI will gain you fans. Measure and report (and push this via email). Pay attention to price granularity. Flat fee pricing might not be most profitable. Revenue generation in the short term vs profit in the longer term might be fine. @akumar lexity.com

30. @akumar lexity.com

31. @akumar lexity.com

32. Economy @akumar lexity.com

33. Economy Recession is real @akumar lexity.com

34. Economy Recession is real Many SMBs live hand-to-mouth @akumar lexity.com

35. Economy Recession is real Many SMBs live hand-to-mouth A lot do go out of business @akumar lexity.com

36. Economy @akumar lexity.com

37. Economy @akumar lexity.com

38. Economy Model organic churn separately from non-organic churn. @akumar lexity.com

39. Economy Model organic churn separately from non-organic churn. Understand realities of credit card management. @akumar lexity.com

40. Economy Model organic churn separately from non-organic churn. Understand realities of credit card management. Model your pricing to capture the reality of failure. @akumar lexity.com

41. @akumar lexity.com

42. @akumar lexity.com

43. Mindset @akumar lexity.com

44. Mindset SMBs are smart - in their own domain @akumar lexity.com

45. Mindset SMBs are smart - in their own domain Unfamiliar jargon comes in the way @akumar lexity.com

46. Mindset SMBs are smart - in their own domain Unfamiliar jargon comes in the way Put a lot of trust in ‘people they know’ @akumar lexity.com

47. Mindset @akumar lexity.com

48. Mindset @akumar lexity.com

49. Mindset Build simple, but not simplistic. Use screenshots and hold their hand. @akumar lexity.com

50. Mindset Build simple, but not simplistic. Use screenshots and hold their hand. Raise awareness through domain inﬂuencers, organizations and services. @akumar lexity.com

51. Mindset Build simple, but not simplistic. Use screenshots and hold their hand. Raise awareness through domain inﬂuencers, organizations and services. Engage in relevant forum boards, and employ content marketing. @akumar lexity.com

52. Mindset @akumar lexity.com

53. Time Money Economy Mindset @akumar lexity.com

54. Lexity’s a la carte suite of functionality to turn merchants into customers. app • distribution • onboarding platform • billing • instrumentation • reporting stack • user experience pick any and all you need! Proprietary and Conﬁdential lexity.com

55. Are ecommerce merchants your customers? Lexity’s App Platform was made for you. Get in touch. Amit Kumar Founder & CEO, Lexity @akumar / amit@lexity.com @akumar lexity.com

Amit Kumar, unSEXY Presentation

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