Hello everyone!
I am just starting out on my Amazon FBA journey. If I have some good budget for products so, do you recommend starting out with just 1 product and focus on creating a brand out of it and launch more new products afterwards or do you recommend starting out with multiple products?
Thanks!
Hi Oscar! Great question. I would say it really depends on your risk tolerance and the style of products you are looking at. You could go wide or deep as your build a brand meaning take one product and launch in variations (sizes, colors, textures, etc) and in multiple marketplaces to grow or you could do a series of products to upsell or cross sell in multiple marketplaces to scale. If you have sifted the data and are willing to go all in one one product idea with great differentiation, sufficient opportunity and it is an in-demand item, by all means you can. The same as if you have enough budget, it never hurts to diversify. However, I will note the first round for many people is also a lot about learning the platform. While I can't give you a definitive answer, I hope you can take these things into consideration to make a decision you feel more content with. As an example, Bradley once did a project called Project 5K (you can find content about this on our site if you look it up) where he launched multiple products with $5K and grew it whereas I just launched a new brand a few months ago and turned great profits just with the one.