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.

“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.
The Latest

Moses, who started at GIA’s Santa Monica lab in 1976, will leave the Gemological Institute of America in May.

Increased competition, falling lab-grown diamond and moissanite prices, and the rising cost of gold took a toll on the moissanite maker.

The earrings, our Piece of the Week, feature pink tourmalines as planets orbiting around an aquamarine center set in 18-karat rose gold.

Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.

“The Price of Freedom” campaign video for International Women’s Day confronts the quiet violence of financial control.


Also, a federal judge has ordered that companies that paid tariffs implemented under the IEEPA are entitled to refunds.

The ever-growing collection, which just expanded with the addition of Olga of Kyiv, features cameos of 12 women from history.

With refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.

We asked a jewelry historian, designer, bridal director, and wedding expert what’s trending in engagement rings. Here’s what they said.

The annual event will be held in Orlando, Florida, from Sept. 14-17.

The “Outlander” star modeled for the digital cover of the magazine’s spring issue, which features a story on her relationship with jewelry.

This year’s annual congress, which will mark the confederation’s 100th anniversary, will take place this fall in Italy.

Beverly Hills was chosen as the location for the brand’s first store, designed as a “private residence for modern monarchs.”

Kering, Apple, and other retailers have reportedly temporarily closed stores in the Middle East region in light of the recent conflicts.

Beth Gerstein discusses the vibe of the new store, what customers want when fine jewelry shopping today, and the details of “Date Night.”

Nearly half of buyers are prioritizing silver and fashion collections this season, organizers said.

The “Live Now. Polish Later.” campaign features equestrians wearing the brand’s jewels while galloping across the icy plains of Kazakhstan.

The precious metals provider has promoted Jennifer Ashworth to the role.

Nelson will be honored as the inaugural grant winner at the Gem Awards gala on March 13.

Experts from India weigh in the politics, policies, and market dynamics for diamantaires to monitor in 2026 and beyond.

The American precious metals refiner’s day-to-day operations remain the same post-acquisition.

These aquamarine jewels channel the calming energy of the March birthstone.

The “Innovative Design” category and award will debut in the Spectrum division of this year’s AGTA Spectrum & Cutting Edge Awards.

Diamond jewelry was the star of the event formerly known as the SAG Awards.

Consumers were somewhat less worried about the future, though concerns about rising prices and politics remained.

Foerster is this year’s Stanley Schechter Award recipient.

Sponsorships and tickets to the annual fundraising event, set for May 31, are available now.

























