As you form your business idea, take the time to learn more about the market for your product. In particular, get into the minds of your customers, scope out your competition, and get up to speed on industry trends. You probably have a general idea of your target market, but this is the time to drill down even more. Google has many resources to help business owners learn more about their markets and customers. Far from being a bad sign, having competition means that your idea has commercial value. The key for you will be to differentiate your business from those that already exist.