GradingMar 06, 2026
Tom Moses Leaving GIA After Nearly 50 YearsMoses, who started at GIA’s Santa Monica lab in 1976, will leave the Gemological Institute of America in May.
IndependentsSep 17, 2019
Squirrel Spotting: To Make Change, You Must Do the Damn Work
Sit down with your team and outline what’s needed to succeed while being honest about potential pitfalls, Peter Smith writes.
Peter Smith is president of Memoire and author of two books, “Hiring Squirrels,” and “Sell Something.” Connect with Smith on LinkedIn or at dublinsmith@yahoo.com.
I’ve been in the jewelry business since the year Elvis Presley exited stage left for the last time. It was a sad day in my life; not the jewelry business part, but the Elvis dying part.
In the decades since, I’ve seen a lot of changes in our business and if I were to create an Elvis playlist for the experience, it might include “In the Ghetto” (that bloody recession), “Suspicious Minds” (insert your own “next-great-thing” here) and “If I Can Dream” (the positivity and optimism that is essential to be successful).
The latter—which yours truly once sang fully robed on a stage with the Las Vegas Mass Choir, a major life highlight—could be the theme song for the myriad reinventions we experience in the course of our lives, personally and professionally.
Aspiring to new projects—an alternate channel of distribution, a great sales team, a new store, a new marketing campaign or product strategy—is easier said than done.
What I’ve witnessed in more situations than I care to remember is lots of groupthink around the idea of doing something really different without ever really putting the mechanism and resources in place to make it happen.
It’s as if talking about the initiative alone was enough to make it happen.
I once worked for a company that wanted to develop an alternate channel of distribution for their products. Given the construct of their business, one could posit that doing so was not just a good idea but, in fact, ought to have been an absolute imperative, enough to galvanize the entire organization.
Nonetheless, the company’s unwillingness to recognize and deploy the essential resources, coupled with a culture that challenged any deviation from long-standing norms, undermined and ultimately suffocated the aspiration.
Of course, the company continued to hire and fire people in a well-intentioned, but otherwise- fruitless, effort to transition their model, but the results remained the same and will forever remain the same until the company honestly and openly addresses the vicious cycle of changing faces while playing the same predictable game.
If you need a reinvention, do it. If that’s not what you want, quit pretending you do and spare your team the myriad false starts.
Here’s a novel concept: If your business aspires to effect meaningful change, do the damn work.
Get the right people in a room and white-board the goals and the steps needed to be successful.
Be honest about the challenges, be they resources, people, financial, operational or, as can so often be the case, cultural.
While you’re at it, insist your team lists all of the known impediments to successful implementation. Demand that each person in the room volunteers at least one reason why the plan might fail and be honest about that possibility.
In fact, write a header on the white board that reads: “Twelve months from now we will have failed because … ” and prioritize the reasons why that might happen.
Create a hierarchy of impediments, and demand honest and open debate about the reasons why it could happen.
In “Thinking Fast and Slow,” Nobel Prize-winning psychologist Daniel Kahneman wrote: “When forecasting the outcome of risky projects, executives too easily fall victim to the planning fallacy. In its grip, they make decisions based on delusional optimism rather than on rational weighting of gains, losses and possibilities.
“They overestimate benefits and underestimate costs. They spin scenarios of success while overlooking the potential for mistakes and miscalculations. As a result, they pursue initiatives that are unlikely to come in on budget or on time or to deliver the expected returns—or even to be completed.”
If your business aspires to big change, if you feel that the status quo is killing the energy of your company, be bold and break the cycle. Do it by challenging your own conventions and, in some cases, even your own culture. If need be, take a sledgehammer to it.
No great change ever came from playing it safe.
Be honest, be bold and be committed. If you need a reinvention, do it. If that’s not what you want, quit pretending you do and spare your team the myriad false starts.
I’ll leave you with one last Elvis reference.
One of the first songs I fell in love with as a young lad was called “Follow That Dream.” It was buried on one of Elvis’ low-budget albums, which were usually filled with movie throwaways.
I loved the high-octane energy and simplicity of the song. It had no pretense or deep messages. It simply implored you to get up and get going, to follow your dream.
It’s as good a message as any to help chart your course.
Thank you. Thank you very much.
Peter Smith is president of Memoire and author of two books, “Hiring Squirrels: 12 Essential Interview Questions to Uncover Great Retail Sales Talent,” and “Sell Something: Principles and Perspectives for Engaged Retail Salespeople.” Both books are available in print or Kindle at Amazon.com. Connect with Smith on LinkedIn or at dublinsmith@yahoo.com.
More on Independents
The Latest
Lab-GrownMar 06, 2026
Charles & Colvard Files for Bankruptcy, Citing Price PressuresIncreased competition, falling lab-grown diamond and moissanite prices, and the rising cost of gold took a toll on the moissanite maker.
CollectionsMar 06, 2026
Zome’s ‘Solara’ Earrings Embody Celestial BeautyThe earrings, our Piece of the Week, feature pink tourmalines as planets orbiting around an aquamarine center set in 18-karat rose gold.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
MajorsMar 06, 2026
Pomellato’s 2026 IWD Campaign Spotlights Economic Abuse“The Price of Freedom” campaign video for International Women’s Day confronts the quiet violence of financial control.
Weekly QuizMar 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Policies & IssuesMar 05, 2026
Tariffs to Increase to 15% This Week, Treasury Secretary Says Also, a federal judge has ordered that companies that paid tariffs implemented under the IEEPA are entitled to refunds.
CollectionsMar 05, 2026
Common Era Honors ‘Difficult Women’ in CollectionThe ever-growing collection, which just expanded with the addition of Olga of Kyiv, features cameos of 12 women from history.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
TrendsMar 05, 2026
Engagement Ring Trends 2026: What’s In, and WhyWe asked a jewelry historian, designer, bridal director, and wedding expert what’s trending in engagement rings. Here’s what they said.
Events & AwardsMar 05, 2026
AGS Announces Conclave 2026 Speaker LineupThe annual event will be held in Orlando, Florida, from Sept. 14-17.
TrendsMar 05, 2026
Caitríona Balfe Fronts Only Natural Diamonds CoverThe “Outlander” star modeled for the digital cover of the magazine’s spring issue, which features a story on her relationship with jewelry.
MajorsMar 05, 2026
Registration Opens for CIBJO Centenary CongressThis year’s annual congress, which will mark the confederation’s 100th anniversary, will take place this fall in Italy.
MajorsMar 04, 2026
Michael M Opens First StoreBeverly Hills was chosen as the location for the brand’s first store, designed as a “private residence for modern monarchs.”
Policies & IssuesMar 04, 2026
Luxury Brands Temporarily Shutter Middle East StoresKering, Apple, and other retailers have reportedly temporarily closed stores in the Middle East region in light of the recent conflicts.
EditorsMar 04, 2026
Q&A: Brilliant Earth’s CEO on the New Beverly Hills StoreBeth Gerstein discusses the vibe of the new store, what customers want when fine jewelry shopping today, and the details of “Date Night.”
Events & AwardsMar 04, 2026
JIS Miami Spring Show to Feature New Gifts Pavilion, Pop-Up Trends TalksNearly half of buyers are prioritizing silver and fashion collections this season, organizers said.
TrendsMar 04, 2026
Spinelli Kilcollin Rides Free In Year of the Horse CampaignThe “Live Now. Polish Later.” campaign features equestrians wearing the brand’s jewels while galloping across the icy plains of Kazakhstan.
MajorsMar 04, 2026
LeachGarner Names New Brand DirectorThe precious metals provider has promoted Jennifer Ashworth to the role.
Events & AwardsMar 03, 2026
Johnny Nelson Wins David Yurman Gem Awards GrantNelson will be honored as the inaugural grant winner at the Gem Awards gala on March 13.
SourcingMar 03, 2026
7 Trends That Could Define the Diamond Industry’s FutureExperts from India weigh in the politics, policies, and market dynamics for diamantaires to monitor in 2026 and beyond.
MajorsMar 03, 2026
Swiss Refiner Completes Acquisition of Gannon & ScottThe American precious metals refiner’s day-to-day operations remain the same post-acquisition.
TrendsMar 03, 2026
Amanda’s Style File: AquatopiaThese aquamarine jewels channel the calming energy of the March birthstone.
Events & AwardsMar 03, 2026
AGTA Adds Another New Category for SpectrumThe “Innovative Design” category and award will debut in the Spectrum division of this year’s AGTA Spectrum & Cutting Edge Awards.
EditorsMar 02, 2026
Jewelry at the Actor Awards: Reimagining Hollywood GlamourDiamond jewelry was the star of the event formerly known as the SAG Awards.
SurveysMar 02, 2026
Consumer Confidence Edges Up in FebruaryConsumers were somewhat less worried about the future, though concerns about rising prices and politics remained.
Events & AwardsMar 02, 2026
JVC to Honor Rebecca Foerster at Annual LuncheonFoerster is this year’s Stanley Schechter Award recipient.
Events & AwardsMar 02, 2026
JFC Names 2026 ‘Facets’ Honorees Sponsorships and tickets to the annual fundraising event, set for May 31, are available now.
