We don't have any competitors
This is the bit where I have to resist the impulse to push half a grapefruit into their face James Cagney style. (I'm a nice guy really - honest)
Almost every company has competition. If not a directly comparable product, then ask yourself how someone is solving the problem now. When you figure out that question then you have either identified:
Am I being a bit harsh with the second one? Perhaps, but if your potential customers don't have a problem then they are unlikely to be motivated to buy your product. If you haven't thought this through, then the odds are you have the high-tech equivalent of a belly button fluff remover.
Yes you can suggest instant messaging, the walkman and text messaging as being exceptions - successful products where a problem didn't exist before they were invented. However I suggest you don't - I still have that half a grapefruit and I'm prepared to use it remember.
Is your product really that unique and that compelling that it can invent it's own new niche*? My experience is not In fact my experience is that people who say they have no competitors are not paying enough attention to the market and are just plain wrong.
Instead of using the grapefruit I tend to use my time to try to help them understand that there are competitors and maybe they should consider them if they want to drive off in a Ferrari, ditch their wives/husbands and trade them in for a younger version.
