Keeping up with the competition is an exhausting fight. Not so much if you use unfair advantages to protect you.
Think of an advantage as something others don't have compare to you, e.g. a skill, an experience, contacts, and that gives you the edge. Use it to fend off you competitors!
A good technique is to reuse what you have at hand and others don't, be it software components, hardware, methods, a database of customers. This way it'll always be hard for your competitors to rival and it'll give you legitimacy.
Keep reusing everything you do and learn as a source of further inspiration. You'll build up a reputation and expertise that people will truly give you and not the others.