Think back to when you were 16 years old and envision the most
important thing you wanted to buy at that point in your life. Maybe
it was a car, or perhaps it was just your favorite record or cassette
tape. Chances are that you weren’t thinking of a lifetime investment, but that’s why Herman J. Russell is a little different — and
undeniably successful.
As a 16-year-old growing up in Atlanta during the 1950s, Russell
had already been working for eight years and had saved a hefty
chunk of money. Instead of blowing his money, he invested it by
buying a vacant lot for $125 — a lot he says would cost $50,000
today.
“My daddy taught me the art of saving at a very young age,”
Russell says.
He then built a duplex on that lot during his senior year of high
school, and when he returned from his freshman year of college,
he painted it.
“That was just the beginning of my real estate development,”
Russell says.
Now, more than a half a century later, what started as a duplex
built on a vacant lot has turned into H.J. Russell & Co., a $300 million construction and real estate development company.
It’s not always easy to build an organization from scratch, let
alone to sustain it for as long as Russell has, but as he gets older,
his one desire is to ensure that the company he founded and still
serves as chairman for, lives on long after he does. So just as he
builds solid foundations for all of his clients, he has done the same
for his business by doing three things to ensure his company’s
foundation is strong enough to stand the test of time. Over the
years, he’s focused on hiring the best people, creating a great
atmosphere for them and moving them up in the organization, and
that even included moving someone into his own position.
“I always have in mind that I’m building an institution — something that will live when I’m not here and continue to live,” he says.
“That’s what you want.”
