If 8,000 people voted in a three-way race, you need 3,000 votes to win. If 8,000 voters voted in a two way race, you need 4001 votes to win. Do you know YOUR win number?
Do you know how much money you need to be competitive? Incumbents will always have an advantage in fundraising and one needs to be honest about how much is needed to be raised and spent for their race.