In a business plan presentation, being frank about
competition wins the respect of investors. Savvy investors know every product/service
has substitute. Showing your competitors’ strengths, according to Fc Expert’s Mark Suster, is a great chance to show the positioning of the company; if you intentionally
hide them, investor will know.
A business truly with no competitors, on the other hand,
means it is too early to invest. The precursor of iPhone, Apple Newton, did not
have any competitor 15 years ago in mobile devices. But it was “15 years too early”, says Ex Apple CEO John Sculley.