Here are some points on what i have found useful on competition

• If you can answer this you will make more money: How will i make money from the people that don't buy what i have to sell?

• Use your affiliate marketing, once you have enough people promoting your product you won't need to pay for google adwords :)

• This is very powerful so take note: create a product that compliments your competitors product so that you can become partners rather than competitors.

• If you are thinking about doing a JV (joint venture) with your competition i would advice you to purchase there product and test before you do so, this will save you alot of money in the long run.  

• Unfortunetly people will by other peoples stuff you might as well get paid for it when they do! If there is a niche you can't break why not promote them?

• Recommendation: a book called "think and grow rich" by Napoleon Hill