All entrepreneurs should be a little paranoid.

Somebody out there is going to do what you’re doing and do it better, at least in the minds of consumers.

Minds of consumers is key to not getting outflanked by someone.

If you’re launching a new product or service, one that no one else is doing, don’t launch at a high price, which will invite imitators.

It’s awkward to have to go back to customers who’ve perceived that yeah, maybe you overcharged them.

Do the product/service lifecycle right the first time.

We generally think the product/service lifecycle is around 18 months on average, before someone somewhere makes a run at your product or service.

Have your counterattack ready, too. What that might be is all over the spectrum but have one. Review it with a trusted consultant.

You don’t know it all.