11 and ½ Thoughts on Leadership
From prioritizing “big rocks” to practicing transparency, Peter Smith explores what it takes to be an effective leader.
![Peter Smith is an industry consultant, speaker, sales trainer, and author. He can be reached via email at TheRetailSmiths@gmail.com. Peter Smith](https://uploads.nationaljeweler.com/uploads/a05fdffbe6d7afeb4f84836eb9f8a818.jpg)
The power Barker writes about in his fascinating book is that which comes with leadership. That very thing about which Abraham Lincoln opined, “Nearly all men can stand adversity, if you want to test a man's character, give him power.”
While we are hardly unique in this regard, it seems to me that our industry is rather prone to celebrate people in high-profile positions as though titles alone beget leadership excellence.
The reality, of course, is that titles no more serve as a proxy for leadership than the lack thereof indicates the absence of said qualities.
In thinking about important attributes of leaders, I’ve come up with the following partial list.
I’m sure you, as an observer of leaders good and bad, or as a practitioner, hopefully of the former variety, could add a few more yourself.
1. Articulate Your Vision
One of the most damaging assumptions in business is that everyone knows what you are trying to accomplish.
Be crystal clear in establishing what your company mission is and know that ambiguity and uncertainty kill ambition.
Inc. magazine asked executives at 600 companies to guess the number of their employees who could name the company’s top priorities.
The executives predicted 64 percent would be able to do so.
When Inc. asked the employees to identify the top priorities, only two percent could name them.
Park the euphemisms and hyperbole and speak in plain language so that everyone knows what you’re trying to achieve.
2. Focus on Controllables
You can’t control the weather, the political climate, or the impending plague of locusts.
You can, however, control the most important aspects of YOUR business.
You can control the quality of your people, the merits of your compensation plan, the relevance of your product, the clarity of your messaging, the sensory experience in your store (lights, sound, scent, etc.), your commitment to CRM, and myriad other tangible aspects of your business.
Manage the controllables and leave the excuse peddlers to battle the locusts.
3. Attack the Big Rocks
There are many aspects of your business that cry out for attention. Resist the urge to lose yourself in the minutia, as though every task and challenge delivers equal returns.
Devote your time, energy, and most important resources to the things that make the most difference in moving the business forward and delegate the time-consuming things that won’t materially impact results – but which still need to be done - to members of your team.
4. Spend More Time With Your Best People
There’s something counterintuitive in suggesting you spend more time with your best people, those who by any reasonable measure already know what they’re doing.
Small improvements from your top producers will have the biggest impact on your business and, even though they may not always act like it, your best people need your attention and acknowledgement too.
As Abraham Maslow wrote, "Recognition is a need we all crave, and there are no exceptions."
5. Speak Last in Meetings
The aptly-named author and speaker, Julian Treasure, described meetings as places where minutes are taken, and hours are lost.
Somewhere between nonsense meetings (a platform for weak leaders to hear themselves talk) and no meetings at all (because you believe your team are mind-readers) exists a place for learning and a meaningful exchange of ideas.
The leader should always speak last, to avoid groupthink – where everyone aligns with the boss and suppresses important and often necessary debate.
Good leaders also ensure that all voices are heard, not just the loudest ones.
6. Take Risks and Practice Psychological Safety
No real growth can come without some risk-taking, and no risks can be taken in environments that are not psychologically safe.
If you want your people to stretch beyond their comfort zones, encourage them to challenge the status quo.
Fear-based cultures are the shortest route to stagnation, underperformance, and talent drain.
It may be true that there is a high instance of sociopathy in leadership – and that can occasionally produce short-term gains by (brute) force of personality–, but without empathy, there can be no long-term and sustainable growth and development of your talent and business.
7. Be Transparent
Good leaders share good news and bad. They’re never less than fully transparent about the challenges ahead, and they respect their team enough to be honest and truthful about current and future challenges.
When things don’t go well, empty platitudes and meaningless euphemisms ring hollow and are often disrespectful.
Share the credit when things are good, and tell the truth when things are not going well.
You’ll be amazed at how a modicum of humility and honesty can galvanize a team.
8. Make Hard Decisions Respectfully
There is never an excuse for demeaning or belittling an employee, internally or externally, when he or she is being released from their employment.
When I hear about managers making veiled inferences about someone’s underperformance after they have been released, it makes me question the ethics and decency of the manager doing the bad-mouthing.
Treat all people with dignity and respect and recognize that not everyone will work in every environment.
Likewise, if someone is just not working out in your business, and you have done all you can to help them, make the hard decision to respectfully part ways. You owe that to all parties and everyone (including the parting employee, eventually) will thank you for it.
9. Leverage Data and Automation
Running your business on gut-instinct and the strength of your experience and convictions alone is a bad idea.
Using data to understand your business is not mutually exclusive to using your finely-honed instincts and expertise.
Whether that is knowing your inventory performance, your price-points activity and gaps, your head-count conversion, your sales and profitability by salesperson, etc., real-time data is critical to maximizing performance and identifying (often contrary to instincts) areas of concern.
Related to gathering data is the concept of automation. Anything that can be automated, that you don’t have to touch, is one more opportunity for you to work on the business instead of being a slave to it.
10. Develop a Hiring Process
When it comes to Big Rocks, building a team must be top of the list and yet it is very often relegated to the status of a perpetually annoying chore that never seems to get easier.
Hiring the right people is the best way to create energy and efficiency in a business and doesn’t have to be the complicated morass that we’ve made of it.
Get help if you need it, but whatever you do, prioritize creating a hiring process and structure.
11. Prize Performance
You can prize harmony, or you can prize performance.
The former frequently masks underperformance, but the latter can be accomplished in a culture of mutual respect that is never less than clear that results will always matter.
You can and should deliver an exceptional experience to your customers. There is no conflict between doing that and selling them beautiful jewelry that they can treasure for decades.
11.5 Hire Smarter People Than You
And the half point is if you’re worried about your direct reports being smarter than you, leadership is probably not your thing!
Happy Retailing!
The Latest
![The “Fabergé x Beetlejuice Beetlejuice” collection features 22 jewels inspired by the new film. Fabergé Beetlejuice Beetlejuice jewelry collection](https://uploads.nationaljeweler.com/uploads/78361e751f2e3238b13e547c8e85c65d.jpg)
It’s showtime for these jewels, inspired by the motifs and color palette of the new Tim Burton film.
![A set of Movado Connect 2.0 watches. The company reported declining sales in its recent second quarter results. Movado Connect 2.0 watches](https://uploads.nationaljeweler.com/uploads/5d1cc61baba5bd86849eb79a0df1fd7c.jpg)
CEO Efraim Grinberg pointed to a challenging consumer spending environment, particularly in the watch category.
![Lizzie Mandler’s Liquid Gold Hoops](https://uploads.nationaljeweler.com/uploads/746314458eb97f28efb151c2315cddd7.jpg)
Inspired by a 19th century sculpture, Mandler transformed gold into liquid for these earrings.
![How to Increase Instagram Followers Naturally in 2024 2.0 (1).jpg](https://uploads.nationaljeweler.com/uploads/ce0b2d506437b6b5b6e9ea7de9150001.jpg)
Growing your Instagram following organically is more important than ever in today's technological environment.
![On the right, Hadid models for her first campaign as Chopard’s brand ambassador, while, on the left, she appears in the jeweler’s “Sculpted by Light” campaign. Bella Hadid in Chopard Campaigns](https://uploads.nationaljeweler.com/uploads/b4287ac9cd48a80ee5996d4de691c321.jpg)
The model and entrepreneur stars in two new Chopard campaigns.
![](https://uploads.nationaljeweler.com/uploads/99a46b30cc354962ac2e29ecd113587a.jpg)
![The Nordstrom Men’s Store in New York City. The Seattle-based retailer may soon go private following a $3.8 billion offer from members of the founding family and Mexican retail company El Puerto de Liverpool. Nordstrom men’s store New York City](https://uploads.nationaljeweler.com/uploads/c548f9e1b2a81417eb754cc739799d30.jpg)
Members of the founding family partnered with Mexican retail company El Puerto de Liverpool to possibly take Nordstrom private.
![To celebrate the 50th anniversary of Elsa Peretti’s arrival at Tiffany & Co., the jeweler will feature her Bone Cuff in its ongoing campaign celebrating its most notable collections. Tiffany & Co. Elsa Peretti Bone cuff](https://uploads.nationaljeweler.com/uploads/b420ed7352655cdc4b8e1acdeaceb87a.jpg)
The iconic design has joined a lineup of notable pieces featured in the jeweler’s “With Love, Since 1837” campaign.
![Supplier Spotlight -Recorded-Webinar.png](https://uploads.nationaljeweler.com/uploads/00d2546ac557992f0d02a3f1336eb094.png)
Supplier Spotlight Sponsored by GIA.
![Ralph Simons, a veteran luxury executive whose resume includes stints at Frederique Constant, Chopard North America, and Tane Mexico 1942, has been named CEO of jewelry brand Cadar. New Cadar CEO Ralph Simons](https://uploads.nationaljeweler.com/uploads/701ba9af82dedc21b73702ac33d75523.jpg)
Ralph Simons is now CEO of the jewelry brand started by fashion designer Michal Kadar and her husband, Avraham Kadar, in 2015.
![Model Taylor Hill (pictured left) wore Messika’s “So Move” pieces, while model and singer Soo Joo Park showcased the brand’s “Move Noa” pieces. Models Taylor Hill and Soo Joo Park wearing Messika jewelry](https://uploads.nationaljeweler.com/uploads/f3b02e2a7a2e84c27e40230b2352bc23.jpg)
The models and friends of founder and artistic designer Valérie Messika showcase the brand’s jewelry in the “Back to Icons” campaign.
![Bloomingdale’s new “From Italy, With Love” campaign highlights Italian brands in jewelry, fashion, home, and more. It includes exclusive products and the introduction of more than 30 new Italian brands. Bloomingdale’s From Italy, With Love campaign](https://uploads.nationaljeweler.com/uploads/4721140018357aa15f6c853c69c3aef2.jpg)
“From Italy, With Love” will showcase Roberto Coin, Marco Bicego, and other Italian brands.
![Zales teamed up with sporting goods brand Prince on a tennis-inspired capsule collection in time for the U.S. Open. Zales tennis necklace over Prince tennis racket](https://uploads.nationaljeweler.com/uploads/c5c7098b9ddeaf0e63349d0672c4c237.jpg)
The jewelry retailer will also have a diamond-set tennis racket on display at the tournament.
![Ylang 23’s new store in The Shops of Highland Park, an upscale shopping center in Dallas, features a fresh color palette and brand direction led by Alysa Teichman, co-owner of Ylang 23 and owner of its sister company, Wildlike. (Photo credit: Aiden Novalis) Ylang 23 Flagship](https://uploads.nationaljeweler.com/uploads/c03ca9bb25737b512c5bf5a830a58b3e.jpg)
The retailer has moved into a 3,200-square-foot space at The Shops of Highland Park.
![This rainbow sapphire tennis bracelet by Suzanne Kalan ($16,000) is one of 20 pieces in this Amanda’s Style File celebrating the September birthstone. Suzanne Kalan](https://uploads.nationaljeweler.com/uploads/ff66d3814adcd6425ba3f6e663156075.jpg)
The month’s birthstone is vibrant in every color.
![Swiss watchmaker Breitling is commemorating a milestone anniversary with the release of (from left) the Premier B19 Datora 42 140th Anniversary, the Navitimer B19 Chronograph 43 Perpetual Calendar 140th Anniversary, and the Super Chronomat B19 44 Perpetual Calendar 140th Anniversary. Breitling watches](https://uploads.nationaljeweler.com/uploads/9fbb8788ced16c6c9cff60eea51f3ace.jpg)
The special editions of the Premier, Navitimer, and Chronomat are equipped with a new perpetual calendar movement from the brand.
![K. Brunini Jewel’s Butterfly Ring](https://uploads.nationaljeweler.com/uploads/5ed707aef2a2b7a99417d2f15844f649.jpg)
Fly away with designer Katey Brunini’s butterfly ring, as its spring-loaded wings flutter above your fingers.
![Brilliant Earth’s showroom in Roosevelt Field mall in New York. The jewelry retailer has promoted Pamela Catlett to chief brand officer and Sharon Dziesietnik to chief operations officer. Brilliant Earth showroom Roosevelt Field mall](https://uploads.nationaljeweler.com/uploads/3e3176d4e721a73c59442cffd37b7942.jpg)
The jewelry retailer has a new chief brand officer and chief operations officer.
![Jewelers of America’s Multifaceted Learning Workshop is a one-day educational event featuring roundtable discussions on industry issues and expert-led sessions on topics like trends, artificial intelligence, and using social media to increase sales. JA Multifaceted Learning Workshop](https://uploads.nationaljeweler.com/uploads/7de06f346540e284dd87d3b7c8955de0.jpg)
Its next event will take place in D.C. on Sept. 17 and in New York City on Oct. 29.
![Lotus Gemology’s new book, “Broken Bangle: The Blunder-Besmirched History of Jade Nomenclature” is available now. Broken Bangle jade nomenclature book Lotus Gemology](https://uploads.nationaljeweler.com/uploads/5c518ff89158c1ebdbb69508d4a6251e.jpg)
“Broken Bangle: The Blunder-Besmirched History of Jade Nomenclature” is an in-depth look at the evolution of jade terminology.
![Ajoy Chawla, CEO of Titan Company Ltd.’s jewelry division, (left) and De Beers Brands CEO Sandrine Conseiller pose with diamonds at a joint press conference held Wednesday in Mumbai, India. De Beers and retailer Tanishq, which is owned by Titan, are teaming up in an effort to boost demand for natural diamonds in India. Titan Company Ltd. executive Ajoy Chawla and De Beers Group executive Sandrine Conseiller](https://uploads.nationaljeweler.com/uploads/fd30364ef0e70030bcb48b761c468cfc.jpg)
It is partnering with retailer Tanishq on educating salespeople, shaping the in-store experience, and a “360-degree” marketing campaign.
![The Conference Board’s consumer confidence index rose to 103.3 in August from an upwardly revised 101.9 in July. Woman shopping](https://uploads.nationaljeweler.com/uploads/c81493410771141d0031101194ab30ef.jpg)
Inflation remained a top concern among survey-takers who included write-in responses.
![A shot from the digital campaign for the Ultrahuman Ring Air, a smart ring that’s now being sold by Verizon in the United States. Retailing for about $350, the ring can tell the wearer about their movements and sleep patterns. A person wearing the Ultrahuman Ring Air smart ring while holding a cell phone](https://uploads.nationaljeweler.com/uploads/64f5e289a86c2c2507eadd2fb2af1d6c.jpg)
The wireless carrier is now stocking the Ultrahuman Ring Air in select U.S. stores.
![The “Jardin” collection centers around emeralds from Muzo’s mine in the Boyacá region of Colombia set in 18-karat yellow gold. Rings and a necklace from Pamela Love Jardin collection](https://uploads.nationaljeweler.com/uploads/9cc78ab92ee5f826fde815a77f93ead7.jpg)
In a collaboration with Muzo, Pamela Love hand-selected each Colombian emerald for eight one-of-a-kind pieces.
![Stuller has received a “Great Place to Work” certification, which Stuller President Danny Clark called a “tremendous honor.” Stuller headquarters](https://uploads.nationaljeweler.com/uploads/3b952c8a2a9c3950760b5cf83143e1a5.jpg)
The certification is based on employee responses about their experience working at a company.
![The Office of Foreign Assets Control issued two general licenses on Friday that address the issue of Russian diamonds that left the country before March 1, 2024, when the G-7’s ban on Russian diamonds took effect. One license applies to diamond-set jewelry and the other to loose diamonds. Stock image of loose polished diamonds](https://uploads.nationaljeweler.com/uploads/5f0d17d2cd4e635aa66f2c2c9e8316b0.jpg)
OFAC has issued two licenses addressing the issue, one for diamond-set jewelry and one for loose diamonds.
![The International Gemological Institute has filed for an initial public offering in India. Man at International Gemological Institute microscope](https://uploads.nationaljeweler.com/uploads/ee1651236884bf90fab723ceda1ec91f.jpg)
The gemological lab is looking to raise up to $477 million.
![Designer Olga Shatrova’s tourmaline earrings stole the show, winning both the “Best in Show” and “Supplier Members: Jewelry $5,001 to $10,000 retail value” categories in Jewelers of America’s 2024 CASE Awards design competition. Earrings by Olga Shatrova](https://uploads.nationaljeweler.com/uploads/166846d54b53779369e8742df9972131.jpg)
The annual jewelry design competition celebrates creativity, artistry, style, and excellence.