Be explicit about what differentiates your product from competitors, especially in a crowded market where many offer similar solutions.

In discussions about competition, it's beneficial to ask founders how they plan to win against competitors rather than making them defensive about their market position.

Competitive and comparables analyses are essential for understanding the market landscape and should include a head-to-head summary of features and strengths.

Having competition is often a good sign for a startup idea, as it indicates that there is a market, but you need a new insight to compete effectively against entrenched players.

If you're trying to sell a technology and it's not gaining traction, consider building a competing product that effectively addresses the same need, like creating a fintech co-pilot if the market isn't responding to your current offering.

Identifying your competition is essential. If you're competing against a giant like Walmart, you need to understand their strategies and how they impact your business.

Conduct thorough market research to determine if there are billions of dollars being made in your market, and analyze your competitors' products to inform your strategy.

When facing competition, if a direct competitor enters the market and underprices you, engaging in a price war is not a winning strategy; instead, differentiate your product based on functionality or value.

Understand your market by analyzing your competitors, their market segmentation, and where your product fits within that landscape.