Do not become obsessed with beating the competition. Instead, obsess over beating the problem you are out to solve. There are several reasons for this:
1) The goal is not to win over the competition, the goal is to put a dent in the universe.
2) It's possible that the competitors are not solving the same problem and don't care about the same things. You are better off solving the problem you want to solve and that you think there's a market for, then someone else's definition of the problem.
3) You will never know all that is going on with your competition. If you're paranoid, you will think they're doing most things right. If you're an optimist (or delusional) you may think they're doing everything wrong. Either way, you're likely wrong. Don't let the competition define your strategy. Focus on the problem.