Ask HN: Before developing a new website/startup do you look at competitors?

Or do you first go full steam ahead, create a prototype of the idea and then look at other websites to see how they have solved that problem?

With some ideas I feel that if you start with looking at competing websites, you will get discouraged that someone has already solved that problem. Also, after looking at other website, the mind tries to confine its creativity to what it has already seen.

Please let me know what is your methodology in this regard.