As coaches, we always have competition.
However, that competition is not always in the form of other coaches. It may come in the form of alternative approaches to resolving the prospective client's problem; through a consulting exercise, some mentoring work, advice from a professional associate, etc. It may be something as basic as a conversation with a trusted friend or family member. It may indeed be the old and comfortable approach of "doing nothing."
Competition is not normally an issue provided that you have engendered:
basic like-ability and trust
credibility in the eyes of the client
a sense that you have heard their issues at a deep level
an understanding of the benefits you deliver
In the case of business or executive coaching, selection onto a shortlist may be based on objective and emotional factors. These might include items such as formal coaching qualifications and individual certification by an organization like WABC (Worldwide Association of Business Coaches). There may be additional factors such as foreign language capability, physical location, past business experience and level of seniority attained. However, once you are on the shortlist, your ability to win business is once again down to the basic personal like-ability and trust perceptions you develop during the first meeting with the corporate client and person-to-be-coached.
There is little point in focusing on what the competition have that you don't....because focusing on the competition acts as a distraction. Focusing on maximizing the number of opportunities you have to connect with potential clients and holding the best on-line and off-line conversations will be your best chance of building a client base.
Source: Stephen Newton: Success as a Coach: Start and Build a Successful Coaching Practice
Frank Bresser: The global business guide for the successful use of coaching in organizations