Episode #1544
How to Build a Defensible Moat Around Your Income
October 28, 2020

In episode #1544, we discuss the value of building a defensible moat around your income. People like Warren Buffett and Charlie Munger like to invest in businesses with a moat for a good reason – they don’t fall as easily when things go awry. Tune in to hear examples of the kind of moats you can build around your income and business to shield yourself from uncertainty. 

TIME-STAMPED SHOW NOTES:

  • [00:25] Today’s topic: How to Build A Defensible Moat Around Your Income. 
  • [00:35] What we talk about when we refer to businesses that have a moat. 
  • [00:58] Examples of what a moat in your business can be.
  • [01:19] Over the years, moats have become harder to build but brands still seem to work. 
  • [01:41] Brands take a long time to build and you have to offer a quality product. 
  • [02:21] Get people to interact with your brand seven times by going omnichannel.
  • [03:00] The importance of diversifying your income to protect yourself and how to do it. 
  • [04:00] Survey and ask your audience what they need and expand by offering the solution. 
  • [04:21] Building multiple income streams and making it defensible takes time – so be patient. 
  • [04:56] A list of things you can do to create defensible moats. 
  • [05:37] That’s it for today!
  • [05:39] To stay updated with events and learn more about our mastermind, go to the Marketing School site for more information or call us on 310-349-3785!

 

Links Mentioned in Today’s Episode:

 

Warren Buffett 

Charlie Munger 

Coca-Cola

See’s Candies

Ubersuggest

Crazy Egg 

 

Leave Some Feedback:

 

  • What should we talk about next? Please let us know in the comments below
  • Did you enjoy this episode? If so, please leave a short review.

 

Connect with Us: 

 

Discover Latest Episodes

Episode
This YouTuber Grew to 2.3M Subs in 1 Year (The Formula for Sam Sulek) #2631
December 09, 2023

In episode #2631, We discuss the unconventional success of YouTuber Sam Sulek, who gained 2.31 million subscribers in just one year. Despite defying conventional wisdom, Sulek's daily, long-form worko...

Episode
What’s Old in Marketing Is New Again, and What’s New Is Old #2630
December 08, 2023

In episode #2630, We discuss the concept of "what's old is new again" in marketing. We highlight the importance of considering industry-specific strategies and adapting them to the current market cond...

Episode
How to Deal with Ad Fatigue #2629
December 07, 2023

In episode #2629, We discuss how to deal with ad fatigue in the ever-evolving world of marketing. We define ad fatigue as the decline in performance due to repetitive ads. Signs of ad fatigue include ...