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Jay's Tuesday Free Enterprise Quote

"Distinction is the consequence, never the object of a great mind."

                                                       George Washington

The thought, "Build a better mouse trap and the whole world will beat down your door," comes to mind here!

The very essence of capitalism, as born by the free market, is innovation and distinction.  The freedom to bring a new product to market, or to market a product in a different, more efficient, way, is the very thing that made the west rich.

And particularly the United States.

Few realize the great entrepreneurship of George Washington.  He is emblematic of the greatness the freedoms this country offer in terms of his business savvy and visionary entrepreneurship.

Only 11 when his father died, he was the youngest boy in the family and so his inheritance was not much.  The family was not rich, but not poor either, but still, in fact, lacked the funds to give young George a formal education!

WHAT'S A GREAT MAN TO DO?  DISTINGUISH HIMSELF!!

When finally inheriting Mount Vernon from his brother Lawrence, his first step in entrepreneurship was to abandon the most common cash crop of his era, and Virginia.  That crop?  Tobacco.

Everyone was producing tobacco, so much that by 1766 prices had gotten very low.  Too low for a profitable return.  He had to make a decision.  He needed a commodity in demand, but would also fetch a good return. 

The entrepreneur George Washington chose WHEAT!  And he needed good wheat, one that was distinguished from other wheat crops.  He needed better wheat.

WHAT'S A GREAT MAN TO DO?  DISTINGUISH HIMSELF!!

Washington also had a fishery.  He lived on the banks of the Potomac River!  It was full of fish!  Shad, herring and other fish, Washington put together a small navy of rowboats and large nets.  According to the Reynolds Museum at Mount Vernon his group netted 1.5 million fish!  He sold the good parts at market, and reserved the inedible portions of the fish for fertilizer!  This fertilizer was used on his wheat fields.

It became quite the cash crop.  In 1771 he replaced a deteriorated grist mill his father built.  He ground his wheat there, as well as wheat from the other farms around Mount Vernon.  He also planted other grains and when returning to Mount Vernon after his presidency, he improved the grist mill in 1791.

What did he do when he retired from politics?

Washington built a distillery in 1797!

And what did he do with his distillery?

WHAT'S A GREAT MAN TO DO?   DISTINGUISH HIMSELF!!

According to one Virginia magazine, he produced whiskey, "rye, malted barley and corn were mixed with boiling water to make a mash in 120 gallon barrels."  That was probably a continuous source of cash!  The Mount Vernon Foundation was awarded a grant from the Distilled Spirits Council of the United States in 2007, and the distillery reopened.  A few times a year Mount Vernon's visitors can purchase whiskey produced from his original recipes and generated from this distillery.

George Washington's entrepreneurial spirit saw a need and went about filling it as best as his abilities would allow.  That is the very essence of free enterprise and free market economics!  He had the spirit of so many of our Founding Fathers, who simply MADE IT HAPPEN.  THEY DISTINGUISHED THEMSELVES!!

 

 

Jay Markanich Real Estate Inspections, LLC  

Based in Bristow, serving all of Northern Virginia.

Office (703) 330-6388   Cell (703) 585-7560

www.jaymarinspect.com


Comment balloon 21 commentsJay Markanich • May 03 2011 07:50AM

Comments

Good morning, Jay. By George, I'm sure he collected a few of those from brewing "the recipe"... 

Posted by TeamCHI - Complete Home Inspections, Inc., Home Inspectons - Nashville, TN area - 615.661.029 (Complete Home Inspections, Inc.) almost 9 years ago

Jay, this is an amazing amount of knowledge about our Georgie!  It is so inspiring & since it is my birthday today, it invigorates me to feel the beat & know that I'm on the right path even if it's going slower than I like...best

Posted by Ginny Gorman, Homes for Sale in Southern RI and beyond (RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate) almost 9 years ago

What a GREAT recap of Washington's entrepreneurial skills. Thanks for the review Jay.

Posted by Bob "RealMan" Timm, Owner of Ward Co. Notary Services, retired Realtor (Ward County Notary Services) almost 9 years ago

Interesting information about GW..great initials. Have a great day.  GW (Gary Waters)

Posted by Gary L. Waters Broker Associate, Bucci Realty, Fifteen Years Experience in Brevard County (Bucci Realty, Inc.) almost 9 years ago

One thing stands out in this description of the business life of George Washington.

HARD WORK!

 

Posted by Lenn Harley, Real Estate Broker - Virginia & Maryland (Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate) almost 9 years ago

Jay,  Really enjoyed your post.  Thank You for shining a light on President Washington's business acumen!

Posted by John Howard, GRI, Mountain Home, Arkansas 870-404-3614 (Century 21 LeMac Realty) almost 9 years ago

You have to wonder how many recipes he went through before he settled on one he likes Michael.

Wow, happy, happy Ginny!  Mr. Washington is quite the study.  More of us should be aware of what a great, and complete person he was.

Bob - this is a recap of a small part of the tip of the iceberg!

From where you stand Gary, those are great initials!  Is your signature as cool as his was?

Posted by Jay Markanich, Home Inspector - servicing all Northern Virginia (Jay Markanich Real Estate Inspections, LLC) almost 9 years ago

That's it in a nutshell Lenn.  He was non stop that guy.  And into so many things.  A real Renaissance man.

John - light on this man could be shined, but it would take an encyclopedia series to cover it all!

Posted by Jay Markanich, Home Inspector - servicing all Northern Virginia (Jay Markanich Real Estate Inspections, LLC) almost 9 years ago

A lot of people are unaware of what a great person Washington was; not because he was the first President but because of how innovative he was in all aspects of his live. 

Posted by Lois Davies, Cape Coral & SW Florida (Century 21 Birchwood Realty, Inc.) almost 9 years ago

George Washington was a great man. There was nothing he could not succeed in doing when he put his mind to it. Money does not equal a great education. If you know how to read, and without all of the distractions of today (television, radio, media), you would become self-educated through reading, and doing.

Posted by Paul Walker, Scott AFB IL Area Realtor (Equity Fifty Five Realty, LLC) almost 9 years ago

Lois - he was a true Renaissance man!  As you say, in all aspects!

Paul - the true purpose of education is to learn to think for yourself, in many different disciplines.

Posted by Jay Markanich, Home Inspector - servicing all Northern Virginia (Jay Markanich Real Estate Inspections, LLC) almost 9 years ago

Jay, he was a great man with a great mind.  

Posted by Jack Gilleland (Home Inspection and Investor Services, Clayton) almost 9 years ago

He was quite the dude, Jack, and I could write blogs every day for a year and just touch the surface!

Posted by Jay Markanich, Home Inspector - servicing all Northern Virginia (Jay Markanich Real Estate Inspections, LLC) almost 9 years ago

He distinguished himself by declining a third presidential term, though he was still very popular.

Posted by Yolanda Hoversten, Broker - O Fallon, IL Real Estate (Berkshire Hathaway HomeServices Elite Properties) almost 9 years ago

Making him, Yolanda, in the opinion of European leaders, the a greater man than they imagined!

Posted by Jay Markanich, Home Inspector - servicing all Northern Virginia (Jay Markanich Real Estate Inspections, LLC) almost 9 years ago

Love your posts Jay. While there may be some that post more there isn't anyone with better content. I always leave your posts knowing a little more than when I started. Thank You!

Posted by Randy Ostrander, Real Estate Broker, Serving Big Rapids and West Central MI (Lake and Lodge Realty LLC ) almost 9 years ago

What's a great man to do? Distinguish himself!

What would he do if he were alive today and in realestate or home inspection?

Why of course he would be on AR blogging his brains out.

Posted by Robert Butler, Montreal Home Inspector | Aspect Inspection (Aspect Inspection) almost 9 years ago

Jay,

So true. If we seek fame it often eludes us. When we set off to do all that we can of to make a difference, the recognition follows. :)

Steve

Posted by Steve Hoffacker, Certified Aging In Place Specialist-Instructor (Steve Hoffacker LLC) almost 9 years ago

Randy - Mr. Washington is one of the most fascinating people in history.  We could read thousands of blogs on this guy!  I am glad you enjoyed this so much!

Robert - or have his first assistant doing it for him!  And he'd probably still be at Mount Vernon, which is some really PRIME real estate!

Steve - this is truly a man who did not set out for fame.  And while it was all happening he was very humble about it all.  It cost him.  There is an interesting note in a display case at Mt. Vernon which reads something like, "Martha and I shared a quiet dinner together and alone tonight.  It was the first time in 38 years that we had enjoyed such a moment."  Fantastic...

Posted by Jay Markanich, Home Inspector - servicing all Northern Virginia (Jay Markanich Real Estate Inspections, LLC) almost 9 years ago

Jay,

Congratulations. This post is now featured on "The Law Of The Land." :)

Steve

Posted by Steve Hoffacker, Certified Aging In Place Specialist-Instructor (Steve Hoffacker LLC) almost 9 years ago

Thank you Steve!  A pleasure once again!

Posted by Jay Markanich, Home Inspector - servicing all Northern Virginia (Jay Markanich Real Estate Inspections, LLC) almost 9 years ago

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