Start-up companies / entrepreneurs: You say you don't have any competition??

That's pretty-much the worst thing you can say to a potential investor.  If you really don't have any competition, then you probably don't have a market either.  So, either you haven't really looked at your competition, or you are coming up with a product or service that no one cares about.  There must be an incumbent way that people are solving the problem, or at least trying to solve the problem.  That's your competition.  Be sure to study it intensely, and acknowledge it's existence (and potential threats) in your investor presentation.  This will give you much needed knowledge and credibility.