Obama: Business Owner ‘Didn’t Do It By Himself’

President Obama remarked “he didn’t do it by himself” while discussing the success of a business owner during a speech in La Crosse, Wisconsin on Thursday.

Obama began by saying said that he gets letters from Americans who do “amazing and inspiring things.” He then turned to the subject of one of the letters, stating “Steve Cottrell lives right here in La Crosse. I’m going to use him as an example. … In 2002, he started a small business out of his house to help manage data for car companies and dealerships. By 2007, he employed a handful of people. Then he was hit with a double whammy. The recession came, and the auto industry almost went belly up. But we refused to walk away from people like Steve. That shot in the arm, Steve says, was enough to keep his company’s confidence going. During the worst years of the recession, Steve invested in new people, new technology, decided to double down, was absolutely confident his business model was right. As the auto industry came roaring back, things began booming. Since 2007, Steve’s revenue is up 1000%. His company, Authenticom, has gone from 18 employers — 18 employees to more than 120. So, this business that began in Steve’s son’s old bedroom is now one of America’s own fastest-growing private companies, based in a restored historic building right here in downtown La Crosse.”

Obama added, “Now, I guarantee you Steve worked hard, he put everything he had into it, he took enormous risks. But he’s also somebody who recognizes that he didn’t do it by himself. He’s proud of what he’s accomplished, but he also talks about how fortunate he’s been to be part of a community like La Crosse, to be part of an industry that got back to basics, determined to do things better and smarter.”

The president continued, citing some of the policies Authenticom implemented, and arguing, “if you treat everybody like family, that’s good for us.”

(h/t Real Clear Politics)

Follow Ian Hanchett on Twitter @IanHanchett