On December 1, 2021, four great Washingtonians will receive the region’s signature lifetime achievement award, joining the more than 125 Laureates in the Washington Business Hall of Fame who serve as role models to the next generation of business leaders. Their careers and backgrounds are as broad and diverse as their accomplishments are far-reaching.
The Learn About the Laureate series serves as an opportunity for the Greater Washington business community to get to know the 2021 Washington Business Hall of Fame inductees just a little bit better.
Check out Russ Ramsey’s Q&A with JA below!
russ ramsey
chairman and ceo,
Ramsey asset management
JA: What was the hardest job you have ever done?
Ramsey: My hardest job was something I’d imagine a lot of young people can identify with: getting my first real job after graduating from college. I was a student-athlete—more athlete than student—and was very stressed because I had no savings and I had student loans to pay off. Happily, I got a commission-only job selling office machines door to door with a reputable company, and I seized the opportunity. I realized in that job that hard work and tenacity could overcome many obstacles. I also learned that mentorship and teamwork in the business world are every bit as powerful as they are on the athletic field—maybe more so, because physical size and skill have no correlation to success.
JA: Did you have a mentor or a role model over the course of your career?
Ramsey: I have been blessed to have multiple mentors at key parts of my life throughout K-12, college, and in the early parts of my professional career. My message to young people is to recognize that everyone is a role model—good or bad—and to seek out mentors that model the goals and behavior you admire and can learn from. It’s equally important for business leaders at all points of their careers to pay it forward, and remember how important and helpful their own mentors were to getting them where they are today.
JA: Did you have a teacher or educator over the course of your schooling who had a lasting impact on your life?
Ramsey: I would not be anywhere without the Boys and Girls Club of DC. It instills a sense of community, teamwork, responsibility, and accountability—all essential attributes for success in the business world. I am forever grateful that I was given the opportunity to be part of such a wonderful organization at an early age, and a central focus of my work now is to ensure other children in the DC community have that same chance.
“We have to work together to break down the long-standing, institutional barriers that have prevented inclusive growth, and insist that considerations around inclusivity and diversity are top of mind for business leaders.”
JA: The global pandemic has caused young people to reconsider the connection between their education and an uncertain future. What should students be doing today to help prepare them for a successful tomorrow?
Ramsey: Educational institutions and employers are certainly more flexible about how people are interacting, and where. The ability to work and learn from anywhere is a game-changer in many ways, but it’s also reinforced the value of face-to-face, human-to-human interactions. There will never be a substitute for in-person conversations. The back and forth is more meaningful, and the discussion is often more fruitful and productive. For students, it can be tempting to rely on the incredible advances in technology to reduce old-fashioned tactile conversations. I would say, as long as it’s done safely, that there is still very much a role for in-person meetings and experiences in education and in business. I’m not giving up my office quite yet!
JA: What can the Greater Washington business community do to build and sustain a more diverse, equitable, and inclusive workforce?
Ramsey: This is one of the most important, but also challenging questions that will determine if our region can thrive in the new economy. To do this, we have to work together to break down the long-standing, institutional barriers that have prevented inclusive growth, and insist that considerations around inclusivity and diversity are top of mind for business leaders. The Greater Washington Partnership and its member companies are laser-focused on this very topic, and continue to do excellent work to close the racial wealth gap, which studies show could unlock anywhere between $35-50 billion in GDP by 2028.
JA: If you were to create a slogan or theme song for your life, what would it be?
Ramsey: Come Together by The Beatles comes to mind, and not just because the Beatles stand the test of time in a way that is virtually unmatched by any other music group. Unity—the power of cooperation and coming together around a common purpose—is a recurring theme in many of the successful organizations I’ve been part of.
I want to focus though on one example that wasn’t necessarily successful, at least by the initial criteria by which we defined success. As chairman of Washington DC’s bid to host the 2024 Olympic Games, I oversaw the region-wide effort to convince the US Olympic Committee that the nation’s capital should represent America on the world stage in vying for the 2024 Olympic and Paralympic Games. The USOC disagreed and chose another city, but what happened next in DC is an important example of the power of unity. The bid process had united a diverse and extremely impressive group of business, civic and political leaders to think comprehensively about the region’s economic and social future in a way that had never been done before. We decided to seize that momentum and turn it into something that could have a lasting impact and mean real, inclusive growth for the region, and formed the Greater Washington Partnership. The Partnership’s work continues today.
You’re invited to support Russ Ramsey’s induction into the Washington Business Hall of Fame. All proceeds benefit Junior Achievement of Greater Washington’s work to prepare local students to be future-ready.