Moat

Simply making a product and selling it won’t automatically give you a lasting competitive advantage. We call that advantage a “moat.” A moat is what protects your business for years to come, and you build it by planning from day one. If you cannot build a moat around your business, it is almost guaranteed to be a poor business—one you probably don’t want to enter. Here are the moats that you commonly will see in the business world. You want them in your business.