I don't think "entrepreneurs are bad at finding their competition" as the OP suggests. In my experience, "We don't have any competition" usually translates to

I don't think "entrepreneurs are bad at finding their competition" as the OP suggests. In my experience, "We don't have any competition" usually translates to "We are so differentiated from the competition that it effectively isn't competition." That's more often than not an unrealistic conclusion, but the reasons an entrepreneur might favor such a conclusion are fairly obvious.