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In this video tutorial I explain what is a moat that can be built around your business, why you need a moat around your business, and how to actually build a moat around your business in order to prevent other businesses from competing with you. A moat is a defensive strategy. For example, if you create a new kind of technology, someone can easily copy it even if you have a patent. They can get around your patent by achieving the same effect with different methods than the ones you patented. But if you have many users, it is another barrier to that new competitor because even if they copy your product, they can"t easily copy the community of users that you created around your product. And that is called a moat, and when you write a business plan, think about how a moat can help your defensive strategy.

One Comment

  1. Start & Grow Your Business Reply
    March 3, 2015

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