Paranoia is generally a bad thing. It creates unnecessary stress and can lead to hasty, regrettable decisions. This holds true when paranoia is unjustified or applies only to small ideas that don’t have large implications.
In this video, Entrepreneur Network partner Patrick Bet-David explains why paranoia, when it comes to big ideas, is absolutely necessary.
He notes 10 specific aspects of entrepreneurship in which paranoia is vital to success, ranging from meeting deadlines to monitoring competition and constantly innovating. Instead of turning a blind eye to these elements, it is important to be conscious of them and embrace the threats your business may face.