How do I respond when an Investor asks if I’m just like one of my competitors?

Don’t be alarmed by a question like that, the secret is to build on your competitors’ success.If a competitor of yours just was acquired or received major funding, use this to show how hot the market is, hint that you might be next because you have a secret sauce that they don’t and make them feel that they could be missing the opportunity of a lifetime. No Investor likes to feel that they missed out on the next big thing. For example, I had a client building an Enterprise solution that had 3 competitors that were acquired by Gartner in the past 12 months. That’s a pretty big signal that if he could prove his capabilities that he might be snapped up by a Gartner competitor.