Moat
Also called Defensibility and Competitive Advantage
The durable advantage that makes it hard for competitors to copy you and take your customers: network effects, switching costs, a brand, proprietary data, or economies of scale.
Why it matters
Anyone can copy a feature. A moat is why you keep winning after they do. Early on you rarely have one, but knowing which moat you are building toward shapes what you invest in before rivals arrive.
Related terms
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