People might think that portraying everything well and good is the key to gain funding; however, this is not the case with business investors who are extremely careful regarding what kind of business they choose.
The statements like “Our business has no competition” might seem amazing to a person with a little knowledge of business, but this very statement could make the investors frown upon your market research and knowledge. This kind of thinking might act as one of the reasons behind the lack of strategies to combat the competition in your business plan. Generally, products and services do have alternatives. Even if you couldn’t think of direct competition for your business, there must be many organizations and enterprises that act as indirect business rivals.