Andrej Kiska is an Associate at Credo Ventures. The team, the product and the size of the market: these three ingredients are typically preached to us as the key to a successful startup. But what if someone much bigger or much better funded comes along, essentially copies the product, devotes a much larger team to the task and spends heavily on sales and_marketing to grab the market? Many of the pitches I have listened to over the years underestimate the value and importance of raising high barriers to entry to their target market. Looking at companies like Groupon, it seems...

This story continues at The Next Web