GradingJun 02, 2022
State of the Colored Stone Market: The Biggest Research Developments of the Past 5 YearsColumnistsJun 21, 2022
State of the Majors 2022: Reflections on Resilience
After suffering a professional setback, columnist Peter Smith reflects on our ability to bounce back even when the hits keep on coming.
Peter Smith is an industry consultant, speaker, and sales trainer. He is the author of three books (“Hiring Squirrels,” “Sell Something” and “The Sales Minute”) and a columnist for National Jeweler. He can be reached at TheRetailSmiths@gmail.com.
Editor’s Note: This story first appeared in the print edition of the 2022 State of the Majors. Click here to see the full issue.
“Everyone has a plan ‘til they get punched in the mouth.” So said Mike Tyson, the former heavyweight champion boxer and a man who administered a few such punches in his day.
I got punched in the mouth recently. I lost my job.
Well, to be more accurate, my position was “eliminated.”
The circumstances surrounding that decision are decidedly less interesting than my reaction to it; an exterior calmness, followed immediately by a deeply rooted sense of excitement at the adventures to come. Adventures unknown, to be sure, but adventures nonetheless.
I thought afterward about one of my favorite Truman Capote quotes, “Failure is the condiment that gives success its flavor.”
Except, by no reasonable standard, could my recent three-year stint be classified as a failure. I believe, in fact, my tenure at my former company might just be the best work of my entire career.
So, what was it that fed my optimism in the face of a job loss, an event often compared to death in the way it can psychologically derail people?
In “The Myths of Happiness,” Sonja Lyubomirsky wrote, “Recent research reveals that people who have experienced some adversity (for example, several negative events or life-changing moments) are ultimately happier (and less distressed, traumatized, stressed or impaired) than those who have experienced no adversity at all.
“Having a history of enduring several devastating moments toughens us up and makes us better prepared to manage later traumas, big and small.”
“Everyone has a plan ‘til they get punched in the mouth.” So said Mike Tyson, the former heavyweight champion boxer and a man who administered a few such punches in his day.
I got punched in the mouth recently. I lost my job.
Well, to be more accurate, my position was “eliminated.”
The circumstances surrounding that decision are decidedly less interesting than my reaction to it; an exterior calmness, followed immediately by a deeply rooted sense of excitement at the adventures to come. Adventures unknown, to be sure, but adventures nonetheless.
I thought afterward about one of my favorite Truman Capote quotes, “Failure is the condiment that gives success its flavor.”
Except, by no reasonable standard, could my recent three-year stint be classified as a failure. I believe, in fact, my tenure at my former company might just be the best work of my entire career.
So, what was it that fed my optimism in the face of a job loss, an event often compared to death in the way it can psychologically derail people?
In “The Myths of Happiness,” Sonja Lyubomirsky wrote, “Recent research reveals that people who have experienced some adversity (for example, several negative events or life-changing moments) are ultimately happier (and less distressed, traumatized, stressed or impaired) than those who have experienced no adversity at all.
“Having a history of enduring several devastating moments toughens us up and makes us better prepared to manage later traumas, big and small.”
“Failure is the condiment that gives success its flavor.”—Truman Capote
Perhaps, as Lyubomirsky implies, I’ve endured sufficient upheaval, personally and professionally, to have formed the necessary psychological calluses to carry me through a job loss?
Maybe it was something entirely different; a sense of a job very well done, a box ticked, an opportunity for personal reinvention?
Or perhaps it was a quiet confidence, knowing that I am primed and ready to make meaningful contributions elsewhere in our industry?
The newly found time could be a great opportunity to do some more store trainings based on my new book, “The Sales Minute,” or to speak to organizations about the hugely important job of hiring salespeople.
It also could be that I now have the opportunity to work with smaller brands and suppliers to help get them on track, or the luxury of working with interested retailers, who might appreciate my perspective and counsel.
Whatever the reason for my positive attitude and upbeat demeanor following my job loss, what is clear is that most of us have a remarkable capacity for resilience in the face of setbacks.
That resilience can reveal itself in the face of the biggest obstacles, such as losing someone close to us, having a major health scare, breaking up with a significant other, or losing a job.
As I write this, we are still in the throes of a global pandemic, Russia has commenced the invasion of its neighbor, Ukraine, the stock market is in freefall and inflation is at its highest level in 40 years. And yet, somehow, we will survive all this, pick ourselves up in the morning and get in the game.
We will tap the necessary reserves of resilience to tackle the demands of our day, minor and major, because of our capacity to keep on keeping on, even in the face of potentially devastating setbacks.
We’ll do it in our stores when the customer walks out without making a purchase, or when a vendor lets us down with a delivery that seemed important at the time.
We’ll do it at trade shows when people fail to show for their appointments, or when our outreach efforts are rebuffed, or ignored completely.
We’ll tap into that resilience when that perfect job applicant takes a position somewhere else, when our jeweler decides to move to another state, or when our best salesperson chooses to go work for someone else.
In “The Happiness Advantage,” Shawn Achor wrote, “Because thousands of years of evolution have made us so remarkably good at adapting to even the most extreme life circumstances, adversity never hits us quite as hard, or for quite as long, as we think it might.”
Resilience is not an antidote to disappointment or suffering. It doesn’t mean we won’t occasionally become derailed when we get punched in the mouth.
It does, however, give us the capacity to pick ourselves up off the canvas and get back in the fight.
Even when your job is eliminated.
More on Columnists
The Latest
SourcingJul 30, 2026
De Beers Sale in ‘Final, Most Challenging’ Phase, Anglo CEO SaysThe goal is for the De Beers sale to be finished by the second half of 2026, with the subsequent approvals process expected to take a year.
Policies & IssuesJul 30, 2026
JA Heads Back to Washington as New Wave of Tariffs Takes Effect David Bonaparte, along with Tim Haake and Ronnie VanderLinden, continue to lobby for tariff exemptions for diamonds, gemstones, and pearls.
SurveysJul 30, 2026
Consumer Confidence Slips in JulySurvey respondents were concerned about the rising prices of food and groceries as well as unemployment.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
Events & AwardsJul 30, 2026
Vicenzaoro Releases 2026 Education LineupThe trade show, slated for Sept. 4-8 in Vicenza, Italy, will feature sessions on trends, AI, gemology, and manufacturing.
Weekly QuizJul 23, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsJul 30, 2026
Hillsborough Show Moves to New Location for 2026The public shopping event featuring art, jewelry, watches, and rare collectibles, will take place in Santa Clara, California, this fall.
EditorsJul 29, 2026
Q&A: The Past and Future of Angola’s Diamond Industry Endiama Commercial Director Elton Escrivão knows people have a lot of misperceptions about Angola. He wants to change that.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
MajorsJul 29, 2026
Kevin Reilly Retires After 39 Years in the Jewelry Industry Reilly has been with PGI USA for the last 20 years, leading partnership development and professional education.
FinancialsJul 29, 2026
Kering’s H1 Jewelry Sales Up 14%Boucheron reached record sales while Pomellato found success in its signature collections.
Events & AwardsJul 29, 2026
Lauren Harwell Godfrey Designs a Flag for ArkansasShe was one of more than 120 American designers who created flags for the “United Flags of Fashion” project led by CFDA and Vogue.
FinancialsJul 28, 2026
Tiffany & Co., Bulgari Lead the Way for LVMH in H1LVMH’s jewelry and watch brands outperformed the company’s other divisions in an environment the company described as “disrupted.”
CollectionsJul 28, 2026
Lionheart’s New Collection Unites Spiritual Iconography“Sacred Heart” features symbols like crosses, angel wings, the Star of David, and the evil eye as a representation of coexistence.
Events & AwardsJul 28, 2026
The Edge Funding 2 Scholarships Via 24 Karat Club SEUS The scholarships will go to early-career professionals looking to study gemology, bench work and jewelry design, or store operations.
SurveysJul 27, 2026
Jewelry Leads Luxury Market Amid Stabilization, Bain SaysBain & Company delved into the trends shaping the luxury market, the impact of AI, and more in its recent study.
SourcingJul 27, 2026
‘Rubies’ Goes on Display at Harvard MuseumThe exhibition reveals the gemology, geology, and cultural history of the iconic red gemstone.
Policies & IssuesJul 24, 2026
New Trump Tariffs: What They Mean for Jewelry The new sweeping slate of tariffs impacts 60 countries, including India, China, Thailand, Hong Kong, and the United Arab Emirates.
TrendsJul 24, 2026
Amanda’s Style File: Ode to ‘The Odyssey’From coin pendants to diamond shields, these old world-inspired jewels are the perfect accessory for an epic journey.
TrendsJul 24, 2026
Courtney Leidy’s Silk Cord Pendants Center Unexpected Pairings Our Piece of the Week pairs a checkerboard-cut amethyst with an ivy green silk cord.
PodcastsJul 23, 2026
Episode 7: Reinhold Jewelers on the Power of RelationshipsMildred Marcano Abrams and Yael Reinhold join the podcast to talk community connections, holiday plans, and preserving Reinhold’s legacy.
SourcingJul 23, 2026
De Beers’ Production Jumps 88 Percent in Q2 Production also was up in the first half of 2026 but is expected to “substantially” decrease in H2 as two key mines undergo maintenance.
CollectionsJul 23, 2026
Silvia Furmanovich’s New Collection Travels Back to the 1920s“Art Deco” fuses ancestral techniques, rare materials, and modern perspectives as a tribute to the optimism and curiosity of the movement.
IndependentsJul 23, 2026
Sissy's Log Cabin Opens Casino StoreThe jeweler’s newest store is inside Arkansas’ Saracen Casino Resort.
WatchesJul 23, 2026
Movado Inks Licensing Deal With Kate Spade New YorkThe watch company will design, manufacture, and distribute Kate Spade New York watches.
Policies & IssuesJul 22, 2026
Trump to Put 50% Tariff on Canadian Goods The higher tax is set to go into effect in August and will apply to loose polished diamonds as well as precious and base metals jewelry.
CollectionsJul 22, 2026
Monica Rich Kosann’s High Jewelry Is FruitfulThe “Enchanted Garden” series features a cherry, lemon, and pear that each hold a little secret inside.
IndependentsJul 22, 2026
Liljenquist Beckstead Opens Rolex New BoutiqueIt’s located in Tysons Galleria, an upscale shopping center in the Washington, D.C., metro area.
