It's only fair that the next one is yours, so here's a lead to follow up. A little competition can keep you on your toes while too much can knock you off your feet. As with all areas of life, there's a healthy balance. And, since you will have competition, learn to deal with it and maximize its benefits. Here are some suggestions.
Some competitors are truly good.
Some will cooperate. Some are highly ethical. Some will trade business with you. Some will help you. Although they aren't hostile, they also aren't eager to share profits and prospects.