Building a Moat: The Secret to Long-Term Business Success
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Building a Moat: The Secret to Long-Term Business Success
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Why do some companies, like Coca-Cola, dominate for decades while others, like Blockbuster, are just a flash in the pan? The secret is a sustainable competitive advantage. In this episode, we break down the four essential "moats" that can protect a business long-term: network effects, intangible assets, cost advantages, and high switching costs. We explore real-world examples from Apple to Walmart and discuss why having a hit product isn't enough. Plus, we teach you 10 key vocabulary terms like "formidable," "inimitable," and "complacency" to help you analyze business strategy like an expert.
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