A cautionary tale for entrepreneurs

A cautionary tale for entrepreneurs:

A 20 year old Englishman was handed his uncle’s shoelace factory when he passed away. He was shocked to find it had been losing money for years. Determined not to let the factory shut down, he committed to learning everything he could to make the company successful.

One of his main competitors was a Chinese shoe lace company. He decided to copy everything he could, from their pricing and different colored laces, to the design of their website. But still, t...