Unfortunately this doesn’t mean that once you have one investor interested in your company that the rest will clamor to commit ever larger amounts of capital on increasingly more favorable terms. What is does mean is that an investor will gain confidence in your idea if you can identify specific competitors and then go on to demonstrate why your business has an advantage over them. Claiming that no-one else can do what you are doing shows lack of research. Further claiming that on-one else can do what you are doing shows lack of research and overconfidence. Homework and realism are much more likely to attract funding.

                                                                                                                                                                                                       

Other guides

Which Venture Capital Stage Fits Your Business?

Business Plan Ready?

When not raise money

The Naked Truth of Raising Venture Capital Finance

Venture Capital Providers Don’t Care About Your Resume

The Customer is King in Your Business Plan

Venture Capital Loves Competition

Is Your Business Plan Aimed at the Right Audience?

Is Your Business Plan Out of Date?

Marketing

Does Anybody Need What You Are Selling?

Cash flow management

How to Make Your Capital Go Further

Investor selection

Where to Look for Angel Financing and Venture Capital