[stevenameyer]

From my second hand knowledge of investors, I actually believe that competition actually works in your favor when seeking investments. It is a good for establishing that the idea is viable and can really help them understand the product and vision. It's just important to understand what your competitive advantage is and focus on that.

As much as people seem to believe that all investors are looking for the next new idea that no one has ever seen before, its not really the truth. They are often looking for a high probability of a return and nothing has a higher probability of a return then something that is already working with a different take or a couple improvements.