You might be so excited about your new business that you’re living in a fantasy land of self-deceit, blissfully unaware of the real threats your competition poses. No, you say. That can’t be. After all, you’re excited about starting your new business. It’s going to be awesome; it’s going to be brilliant; maybe even rival Facebook one day. You know you are destined to be a multi-millionaire and retire rich at 40. You’ve got it all figured out. You know the market. Maybe you’ve even worked in the industry or niche before. You’re confident that there can’t possibly be any hidden surprises because you know it all. Wrong! Knowing the market can be both a good or a bad thing, but it’s something you absolutely must do. To be successful, you must understand your limitations, accept that your knowledge may be flawed, and have a realistic understanding of what you have to offer.