But you didn't just do it in the abstract; you actually built something specific, and more importantly, you built it somewhere specific. You built it in America, which, as every flag-waving patriot will insist, is the best place in the world to build a business.
Why? Just like in real estate: location, location, location.
These remarks by President Obama have been widely misquoted and even more widely misunderstood:
If you were successful, somebody along the line gave you some help. There was a great teacher somewhere in your life. Somebody helped to create this unbelievable American system that we have that allowed you to thrive. Somebody invested in roads and bridges. If you’ve got a business — you didn’t build that. Somebody else made that happen. The Internet didn’t get invented on its own. Government research created the Internet so that all the companies could make money off the Internet. [Emphasis added]Given the choice of building an office on clear, level and stable land or building on steep slopes, eroded areas, or swamps, which would you choose?
Given the choice of building on a lot with roads, sewers, water and communications infrastructure already in place, or somewhere where you had to build all that yourself, which would you choose?
Admittedly, some like to be remote, or fiercely independent, or to seek a challenge and would pick the more difficult location. Some of those iconoclasts might come to regret it, too.
Most would prefer to build where there is already a good foundation. Your challenges are fewer, your costs are lower, your speed to completion is faster and your chances of success are higher.
So too with businesses. You must build it yourself, but a smart businessman scouts his location carefully. And that's why entrepreneurs build more businesses in America, even with the regulations and taxes, than in libertarian paradises like Somalia. And how many businesses get built in places where you literally have no help, no foundation at all?
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