‘Business and family don't naturally mix'

Michael Russell, president & CEO of H.J. Russell & Company in Atlanta, discusses fostering Black entrepreneurship, serving the community and distinguishing the family from the family business.

Michael Russell, President & CEO, H.J. Russell & Company, Atlanta, Ga.

Generation of family ownership: Second.

Revenue: Approximately $200 million.

Number of employees: 190.

- Advertisement -

First job at this company: Sweeping the sidewalk and clearing breezeways at apartments when I was 8. I always wanted to work for the family business, but my dad and I both thought I should get some outside experience first. After college, I worked at Portman Properties in the development and construction group for three years. I completed an MBA at Georgia State in 1990 and returned to the company in 1991.

Most memorable thing I learned from my father: The ability to multitask. He was an entrepreneur; when he was growing our company, which specializes in construction, program management, and real estate development, he was also growing other companies. He also taught me the importance of your reputation and doing what you say you're going to do.

Our greatest success: A number of future entrepreneurs have come through what we call H.J. University. We're well known for people, especially Black entrepreneurs, coming to work for us and going on to start their own company. They've added to the diversity in the real estate and construction industry. Also, we're continuing to grow, and we have a bright future.

A quote from our mission statement: Enhance the quality of life in the communities we serve.

On my desk: A flip file with cards, like a big Rolodex, that holds The Russell Fundamentals, 25 key behaviors that we espouse and expect our team members to exhibit. They help instill the culture we think is important. We do one a week, such as “collaboration.” This card explains that team members are expected to share information, work together and learn to ask themselves, “Who else needs to know this?”

One of my greatest accomplishments:  I expanded the business outside Atlanta, opening an officein Dallas almost 15 years ago, and one in Boston two years ago.

Best thing about working in a family business: It's satisfying to have a business that's generational. Also, you can have a long-term vision about where you want to go [and] you're not forced to work on short-term financial goals. In addition, I get a lot of satisfaction knowing that not only can we have an impact within our family, we can also impact the families of the people who work for us, whether it's helping to send members to school or something else.

Advice for other family business leaders: Make sure you distinguish between family and business. You will always love your family and what they bring to you, but business and family don't naturally mix and you need to be aware of that to make both work.

On a day off I: work out, play golf and travel. I like to see and learn different things and find time to enjoy the small things with family.

Book I think every family business leader should read: In the Black, an autobiography by T. Dallas Smith. He used to work for us and was the first Black real estate broker in Atlanta.

Philanthropic causes our family supports: Five years ago, we started a nonprofit, The Russell Innovation Center for Entrepreneurs. The mission is to help entrepreneurship, particularly in the Black community. It's an incubator, a coworking space and a center for innovation.

Words I live by: Be humble, listen more than you speak and treat people the way you want to be treated. Be prepared for opportunity when it presents itself so you can take advantage of it.

About the Author(s)

This is your 1st of 5 free articles this month.

Introductory offer: Unlimited digital access for $5/month
4
Articles Remaining
Already a subscriber? Please sign in here.

Related Articles

KEEP IT IN THE FAMILY

The Family Business newsletter. Weekly insight for family business leaders and owners to improve their family dynamics and their businesses.