There are a couple of healthy and productive ways to look at competition.
If competition exists, and it's for a product or service, then naturally this means there's a market. This is awesome news, mainly because someone already did the heavy lifting:
Researching the market.
Validating product market fit.
Generating data points to mine and analyze.
Getting things wrong (and getting things right).
Creating happy and unhappy customers.
In other words, there's untapped opportunity to exploit and improve on what the competition is doing or not doing.
Don't shy away just because competition already exists. Not one every has 100% of the pie. There's plenty of pie to go around provided you're offering value worth trading for.
Or
You can also choose to ignore the competition.
Only compete against yourself.
Be better each day, week, month, year than you were previously.
This is how you win without insecurity or distractions, and develop the best version of the value you have to offer.
There's only one you, and that's your monopoly.
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