Columnists

State of the Majors 2022: Reflections on Resilience

ColumnistsJun 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.

2021_Peter Smith.jpg
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.”

“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. 

 Related stories will be right here … 

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.  
Peter Smithis a principal partner at The Retail Smiths, a consultancy for jewelry vendors and retailers. He is the author of four books, including the recently released “Essentially Human, On Sales and Salespeople,” and he teaches sales behavior master classes. He can be reached at theretailsmiths@gmail.com.

The Latest

Dunkelberger’s Fine Jewelry
IndependentsJun 05, 2026
Pennsylvania Jewelry Store To Close After 79 Years

Jim Springer, owner of Dunkelberger’s Fine Jewelry, is heading into retirement.

Stock image of a person shopping at the grocery store
SurveysJun 05, 2026
Consumers to Cut Back on Spending Amid Rising Prices, Survey Shows

When conducting its May consumer confidence survey, The Conference Board asked extra questions about consumers’ budgeting strategies.

Rebel Jewelry Tunnel Charm
CollectionsJun 05, 2026
Rebel Jewelry’s Charm Symbolizes Perseverance for Pride Month

The “Tunnel” charm, our Piece of the Week, celebrates Pride Month with its design inspired by hope and the light at the end of the tunnel.

PG-05-SHOT-2-LUCIDA.033 1.png
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in Vegas

As gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.

Three gold rings set with yellow- and brown-hued diamonds
SourcingJun 05, 2026
State of Diamonds: The Way Forward for Natural Diamonds

The jewelry industry is reassessing its positioning as Gen Z reshapes the retail landscape and lab grown continues to gain market share.

Weekly QuizJun 05, 2026
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
A Marvelous Journey: The Collection of Maurice Tempelsman
AuctionsJun 04, 2026
Treasures from Maurice Tempelsman’s ‘Marvelous’ Life Head to Auction

Up for auction at Sotheby’s, the collection of Tempelsman’s personal effects includes a Cartier Tank watch Jackie O. gifted him.

Dakota Badia and Nancy Badia
CollectionsJun 04, 2026
Buddha Mama to Spend the Summer in Aspen

The Miami-based fine jewelry brand will host its first summer residency in the Colorado mountain town from June 5 to Aug. 23.

1872x1052-NextGem-2026-National-Jeweler-Advertorial.jpg
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry Retailers

With the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.

AGS at Peter Yantzer Building dedication
MajorsJun 04, 2026
AGS Honors Late Peter Yantzer, Holds Time Capsule Ceremony

The organization also announced its international board of directors for the 2026-2027 term.

Neiman Marcus downtown Dallas store
MajorsJun 04, 2026
Neiman Marcus’ Downtown Dallas Store to Close in September

Saks Global confirmed the closure this week, spelling the end for a store that’s been part of downtown Dallas for more than 100 years.

Screenshot of the Tracr website homepage
GradingJun 03, 2026
GIA’s Tracr Investment Is First Step Toward Industry-Owned Platform

The Gemological Institute of America is now a 30 percent stakeholder in Tracr, the De Beers-backed blockchain for diamonds.

The 1916 Company Coast to Coast Roadshow
WatchesJun 03, 2026
The 1916 Company Taking Pre-Owned Rolexes on the Road, Again

The retailer is bringing Rolex Certified Pre-Owned watches to five U.S. cities in 2026 for collectors to see, try on, and purchase.

Jessica Alba in Gabriel & Co. campaign
IndependentsJun 03, 2026
Jessica Alba Is the New Face of Gabriel & Co.

The actress and entrepreneur stars in the jeweler’s new campaign that celebrates life’s quiet moments.

Anna Maccieri Rossi Ora Wood Sunrise Cuff, Marie Lichtenberg High Jewelry Bandana, Anna Maccieri Rossi Carpe Diem Pendant
TrendsJun 03, 2026
State of Design: Only the Innovative Will Survive

The price of gold has risen, affecting the number of pieces designers make, the materials they use, and how they position themselves.

Woman with crossed hands and rings on fingers
FinancialsJun 02, 2026
Signet Jewelers’ Q1 Sales Up 2% As It Focuses on ‘Core Four’

The jewelry retailer is zeroing in on Zales, Jared, Kay Jewelers, and Blue Nile as it looks to create unique brand identities for each.

Dr. Akinwumi Adesina, chairperson of the Diamonds for Development Fund
SourcingJun 02, 2026
Leader Appointed for Botswana’s Diamonds for Development Fund

Dr. Akinwumi Adesina, a development economist, will head the fund created to help Botswana diversify its economy.

James Marks
WatchesJun 02, 2026
Watch Industry Veteran James Marks Joins Sotheby’s

Sotheby’s has appointed the former Phillips executive as its global head of private sales and retail in its watches division.

Sothebys 10-carat blue diamond, 120 carat Harry Winston diamond necklace
AuctionsJun 02, 2026
Sotheby’s to Auction 10-Carat Blue Diamond, 1960s Harry Winston Necklace

A private collection of five Paraíba tourmalines also will be up for sale at Sotheby’s High Jewelry auction in New York, scheduled for June 16.

People shopping in a jewelry store
IndependentsJun 02, 2026
State of Retail: 6 Things Retailers Should Know About Consumers Today

From Gen Z’s view of luxury to “doom spending,” these are the six consumer trends to note this year.

Zahn-Z Big Zaha Art Deco Ring
Events & AwardsJun 01, 2026
Design Atelier Brands Have a Big Night at Emotional Couture Design Awards

The show started by honoring Mildred Marcano, ended with a tearful Beth Anne Bonanno, and recognized a dozen-plus designers in between.

Rapaport's rebranding
SourcingJun 01, 2026
RapNet Rebranding as Rapaport Trade

The revamped online diamond marketplace will feature pricing intelligence and data-driven tools for more efficient buying and selling.

Gemfields emeralds
SourcingJun 01, 2026
Gemfields’ Higher-Quality Emerald Auction Achieves $26.8M

The miner said demand for higher-quality emeralds is stable, but there is notable caution in the market.

Cultus Artem River of Heaven Necklace
CollectionsMay 29, 2026
Cultus Artem’s Necklace Is the Oasis in Las Vegas’ Desert

The “River of Heaven” necklace, our Piece of the Week debuting at Couture, combines 26 salt and pepper diamonds spaced by Tahitian pearls.

Sean Dunn, Amy Greenberg, Elise Greenberg, Coleman Clark, Mitchell Clark
IndependentsMay 29, 2026
Meet the 2026 Retailer Hall of Fame Inductees

This year’s inductees include second-, third-, and fourth-generation jewelers.

Jesse Itzler
Events & AwardsMay 28, 2026
JCK Announces Jesse Itzler as 2026 Keynote Speaker

The author, speaker, and entrepreneur will give his presentation, “Spiritual Billionaire,” on Saturday morning.

JCK Rocks Nelly Graphic
Events & AwardsMay 28, 2026
JCK Rocks To Ride With Nelly

Three-time Grammy award-winning artist Nelly is set to perform at the annual event at Tao Beach on Sunday night.

A screen shot of The Clear Cut's website
MajorsMay 28, 2026
Signet Jewelers to Buy The Clear Cut

Signet will integrate the online-only, natural diamond-focused jeweler into Blue Nile, which it wants to position as a higher-end retailer.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy