A proper answer would take a whole book :)
You need to find _your_ central idea about what you are best at, what you value, and what you care about.
Focus on that. Not! the competition.
The competition is largely not relevant, early on. Do what you do best. Don't react to them. Do your own thing!
Let the competition find the potholes in the road. You may then avoid the problems that they were bogged down solving.
If you have solved the right problems, your value will be apparent. If not, adjust, and repeat :)
Don't let the competition define you!