The best private label strategy often means not starting with private label at all. It's the end goal for many, but as Jim points out on Silent Sales Machine Radio, you almost certainly should not start there. It's a hard road, and his co-host Robin Joy Olson often emphasizes the need to focus on one strategy instead of jumping between them. The real key, as the hosts of The EcomCrew Ecommerce Podcast discuss, is building a truly defensible brand, and that takes time and resources you might not have on day one.
That's why a hybrid strategy is so effective. On an episode of the Amazon Legends Podcast, Corey Lawson lays this out perfectly. He recommends starting by sourcing and reselling existing products competitively. This gives you immediate revenue and teaches you the platform much faster. You can then use that cash flow and experience to simultaneously work on your private label brand without taking on as much risk.
Your first step isn't to start hunting for a private label product. It's to source a few existing products you can resell to get revenue flowing today.