Answer: By thoroughly understanding those competing businesses and then doing one of two things:
(1) Finding a position in the category you can own.
This will separate you from all the other businesses and will make you uniquely qualified in the eyes of your prospect to fill their need.
This usually requires finding a specific market niche you can focus on, or finding a specific product or service attribute or benefit, that is of value to your prospects, that none of your competitors can claim or are currently promoting.
This puts you in a class of your own and virtually eliminates the competition. No one does exactly what you do. Or in the quite the way you do it.
(2) By turning your competitors into “co-opitors.”
What the heck is a “co-opitor?” It is a competitor that you turn into a partner or a cooperator. Are there businesses or individuals with whom you could partner, with the idea of referring business to each other?
For example, a wellness coach could partner with a weight watchers clinic or a health club or a massage therapist. All of these practitioners are selling improved health and well being, but they can also be positioned as complementary services.