Something durable that protects a business from competitors copying it. A real reason customers choose this one and not another.
Example
Lego has been around for decades. People still ask for Lego specifically, even when cheaper plastic blocks exist. The brand and the trust took fifty years to build, which is why a new competitor cannot just copy Lego in a year.
How it fits in
Buffett's image of a moat is a structural reason a business stays profitable even when others try to take its place. Real moats are rare and tend to be one of a few kinds. Strong brand trust, network effects (more users make the product better), large scale advantages, high switching costs, or proprietary technology. Anything less usually erodes within a few years.
Where this is taught
Entrepreneurs who exemplify this
Related terms
Someone who builds a product or service to solve a real problem and tries to make it pay for itself and grow.
A short, honest sentence that names who you help, what problem you solve, and why your way is better.
The smallest version of an idea that is real enough for someone to actually use it and tell you the truth about it.