1. Do a competitor analysis

First, identify your competitors. You can do this by doing a quick google search and subscribing to the your competitors' newsletters. Gather all the information you can get.

Secondly, analyze your competitor's strengths and weaknesses. What do they have that you don't and how can you incorporate this into your own moving forward?

Lastly, Identify your competitive advantage. A competitive advantage should be something that makes you distinctive from the rest.