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.
Editors' Picks
Sponsored by
More on Columnists
The Latest
Events & AwardsJul 21, 2026
Apollo Funds Completes Emerald AcquisitionFormer Emerald President and CEO Hervé Sedky has transitioned to the role of senior advisor.
CollectionsJul 21, 2026
Graff’s New Butterfly High Jewelry Brooches MetamorphosizeThe 12-piece capsule collection transforms from brooches to pendants.
SourcingJul 21, 2026
Anglo Reportedly Selects Gareth Penny’s Consortium as Top Bidder for De BeersA Botswana government official told lawmakers Anglo has selected The Global Diamond Consortium, an entity chaired by Penny, to buy De Beers.
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.
Policies & IssuesJul 20, 2026
Tariffs on Brazil to Increase But Rough Gemstones ExemptThe new tariff, imposed after a Trump administration study, is 25 percent and will stack on top of existing tariffs.
Weekly QuizJul 17, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJul 20, 2026
Vhernier Transforms ‘Freccia’ Collection Into High JewelryThe collection from 2014 has been reinterpreted into high jewelry with its signature triangular-shaped elements.
MajorsJul 20, 2026
Krista Collins Walters Promoted to Publisher of InstoreShe will also take on the role of vice president of jewelry for SmartWork Media, a newly created position.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
Events & AwardsJul 20, 2026
TJS Accepting Speaker Proposals for 2027 EventOrganizers are looking for presentations on topics like manufacturing, technology and research, bench work, gemstones, and sustainability.
CollectionsJul 17, 2026
HOWL Taps Shailene Woodley for ‘Home Sweet Home’ CampaignWoodley is seen in the campaign wearing our Piece of the Week, the “Frida” collar featuring 13 pieces of hand-carved Venetian glass.
SourcingJul 17, 2026
U.K. Woman Pays £5 for £15K Diamond Ring at Car Boot SaleA WeBuyVintage jewelry expert uncovered how much the flea market find was actually worth.
SourcingJul 17, 2026
Diamond Dealer Jeff Pancis Pens MemoirThe founder of natural colored diamond wholesaler Pancis Gems shares stories from his five decades in the industry.
Events & AwardsJul 17, 2026
Gem Awards Opens 2027 Nomination PeriodSubmissions for the milestone 25th annual Gem Awards will be accepted across three categories from now through July 31.
EditorsJul 16, 2026
Q&A: Guzema’s Co-Owners On Its US Expansion, 10-Year AnniversaryValeriya Guzema and Mariana Lenha look back on the last decade and discuss the Ukrainian brand’s first U.S. store.
SourcingJul 16, 2026
Ekati to Close, Leaving Canada With One Diamond Mine The diamond mine, which opened nearly 30 years ago in Canada’s Northwest Territories, is expected to shut down by mid-August.
FinancialsJul 16, 2026
Richemont’s Jewelry Sales Soar for the Seventh Quarter in a RowJewelry sales for the company, which owns Cartier, Van Cleef & Arpels, Vhernier, and Buccellati, rose 21 percent in the first quarter.
Events & AwardsJul 16, 2026
MJSA Mentor & Apprenticeship Program Certifies First Advanced Apprentice GraduateThe graduate, Grace Barden, credited the program with helping her secure a job as a bench jeweler.
Events & AwardsJul 16, 2026
Jewelers of Louisiana to Host 80th ConventionThe event, scheduled for next month in New Orleans, will include dinner, a custom jewelry design contest, and education sessions.
SourcingJul 15, 2026
1,305-Carat Diamond Recovered from Mine in BotswanaThe yet-to-be named stone is the 10th diamond weighing more than 1,000 carats to come out of Lucara’s Karowe mine.
IndependentsJul 15, 2026
New Jersey Jeweler Barry Berman Dies at 81The founder of Fords Jewelers, Berman is remembered for his love of connecting with his community.
FinancialsJul 15, 2026
Watches of Switzerland’s US Sales Jump 18%, Declines to Comment on Sale Report The watch and jewelry retailer had a strong fiscal year despite what its CEO described as a “complex operating backdrop.”
Events & AwardsJul 15, 2026
Hamptons Jewelry Show to Return in JulyThe open-to-the-public luxury jewelry and timepiece show, in its second year, is slated for July 23-26.
CollectionsJul 15, 2026
Pomellato’s New High Jewelry Is LiberatingBold color, expressive gem-setting, and sculptural form define the three chapters that make up “Stile Libero.”
IndependentsJul 14, 2026
Foundrae Opens First Standalone Store Outside USThe New York-based jewelry brand has expanded overseas, opening a store in London’s Mayfair district.
TrendsJul 14, 2026
Amanda’s Style File: Shoulder Dusters These long, fluid drop earrings are sure to catch the eye.
CrimeJul 14, 2026
Man Charged in $1M Jewelry Store Heist Lands on FBI Most Wanted ListAlberto Perez-Elias is one of four men charged with robbing a Cape Coral, Florida, jewelry store and is the only one still at large.
Events & AwardsJul 14, 2026
Conference on Mining, Sustainability Kicks Off in NYCInitiatives in Art and Culture is hosting its 16th annual Gold and Diamond Conference, with the theme of “Resilience.”
