I think competition was never your problem. A lack of passion for your industry/product over the long-term, is most always the high level reason people start and stop projects like this.
There was also a fear of letting this be my full time gig and not having a steady paycheck. My brick and mortar business had just closed its doors as my biggest client stopped paying people (he literally disappeared into the woods and had a class action lawsuit from many people he owed money).
Here's mine: http://redtagcrazy.com/blog/2011/03/28/rise-and-fall/