Don't dive into entrepreneurship, thinking that you're the only fish in the pond. There are a lot of others competing for the same customer base.

And the thing is, some of those competitors may be better than you! Their branding may be snazzier, their pockets deeper, their talent superior and their knowledge greater.

So, be prepared for it, but don't be discouraged by it. Without competition, you could easily grow lazy and lose your edge. Embrace the competition and improve because of it.