When I sometimes ask startup founders, “what’s your moat?”... I’ve often seen puzzled looks, and once someone also asked me what’s the full form for the word...
Well, “moat” is the competitive advantage that your business / product has over the competition. It’s derived from the trench that would surround a castle and protect it from invaders.
It’s what protects you from competition. What makes you defensible in the market, and does not have a full form.
The following are the broad 6 types:
1/ “Brand”, which he calls “better marketing” - Nike is the best example, yeah?
2/ “Quality”, an attribute that everyone uses to justify why their product is higher priced than the competition. You could say JBL, or Bang & Oulfsen, of course, as Greg does.
3/ “Price”: that’s competing at scale for the masses. Think BoAt in the context of audio equipment / wearables.
4/ “Community”, or the audience / fandom you’ve built around your product. I’d say look at all your cohort based courses or even the MBA programs. The learning from peers and the alum network is priceless.
5/ “Technology”, which is your patents and designs and copyrights and all intellectual property that you have legal rights to use commercially till China copies your apple watch Ultra and starts selling it at Rs 3k
6/ And “Network Effects” that’s probably no longer Uber/Ola, but definitely WhatsApp.
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A Chartered Accountant with about 10 years of experience in areas of Tax Advisory, Startup Consulting, Fundraising, Audits, Deal Advisory, Business Modelling and contract CFO services.
Winner of the ISB Young Leader Award 2017 and the Best All Rounder, PGP Class of '17, Sarthak has also been published about in the leading financial newspapers such as The Financial Express as possibly the youngest Indian to have completed the courses of CA, CS and CMA along with a graduate degree in Financial & Investment Analysis from University of Delhi, all by the age of 23 years.
