SourcingJan 28, 2026
Ethical Gem Fair to Debut Designer Showcase in TucsonThe new addition will feature finished jewelry created using “consciously sourced” gemstones.
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.
Editors' Picks
Sponsored by
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
ColumnistsJan 28, 2026
Peter Smith: Setting the Next Generation Up for SuccessIn his new column, Smith advises playing to your successor's strengths and resisting the urge to become a backseat driver.
SurveysJan 28, 2026
Consumer Confidence Falls Below Pandemic Lows in JanuaryThe index fell to its lowest level since May 2014 amid concerns about the present and the future.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
FinancialsJan 28, 2026
Tiffany & Co., Bulgari Sales Resilient as LVMH’s 2025 Sales SlipThe brands’ high jewelry collections performed especially well last year despite a challenging environment.
Weekly QuizJan 22, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJan 27, 2026
De Beers London, GemFair Debut New Collection Highlighting Artisanal DiamondsThe collection marks the first time GemFair’s artisanal diamonds will be brought directly to consumers.
SourcingJan 27, 2026
GemGuide Launches Pricing for Montana SapphiresThe initial charts are for blue, teal, and green material, each grouped into three charts categorized as good, fine, and extra fine.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
TechnologyJan 27, 2026
Clientbook Launches Appointment Booking ToolThe new tool can assign the appropriate associate based on the client or appointment type and automate personalized text message follow-ups.
SourcingJan 26, 2026
Tucson Preview 2026: Earthy Tones and Innovative Shapes Buyers are expected to gravitate toward gemstones that have a little something special, just like last year.
SourcingJan 26, 2026
Angolan Diamond Cos. Join NDC as Rio Tinto, Murowa Exit Endiama and Sodiam will contribute money to the marketing of natural diamonds as new members of the Natural Diamond Council.
MajorsJan 26, 2026
Francesca’s To Close All StoresThe retailer operates more than 450 boutiques across 45 states, according to its website.
MajorsJan 26, 2026
BIJC Names 5 New Board MembersThe new members’ skills span communications, business development, advocacy, and industry leadership.
CollectionsJan 26, 2026
Tiffany & Co. Celebrates 189 Years of Love StoriesThe jeweler’s 2026 Valentine’s Day campaign, “Celebrating Love Stories Since 1837,” includes a short firm starring actress Adria Arjona.
GradingJan 26, 2026
DCA Updates Colored Gemstone CourseThe new features include interactive flashcards and scenario-based roleplay with AI tools.
MajorsJan 23, 2026
Watches of Switzerland Acquires 4-Store Jewelry Chain in TexasFamily-owned jewelry and watch retailer Deutsch & Deutsch has stores in El Paso, Laredo, McAllen, and Victoria.
WatchesJan 23, 2026
Damiani Group to Acquire Baume & MercierThe Italian luxury company purchased the nearly 200-year-old Swiss watch brand from Richemont.
TrendsJan 23, 2026
Martin Katz’s Earrings Call to Mind Wintry Weather Micro-set with hundreds of diamonds, these snowflake earrings recreate “winter’s most elegant silhouette,” and are our Piece of the Week.
MajorsJan 23, 2026
Rembrandt Charms Names New Director of Creative, Brand StrategyElla Blum was appointed to the newly created role.
Supplier BulletinJan 22, 2026
The Rise of Centralized Sourcing in the Colored Gemstone MarketSponsored by RapNet
MajorsJan 22, 2026
Lugano Diamonds Finds a BuyerInvestment firm Enhanced Retail Funding, a division of Gordon Brothers, was the successful bidder.
SourcingJan 22, 2026
De Beers To Release ‘A Diamond Is Forever’ BookIt explores the history of the iconic tagline and the company’s strategy to redefine the role of diamonds in society.
MajorsJan 22, 2026
Swarovski Appoints New North America PresidentRetail veteran Sindhu Culas has stepped into the role.
MajorsJan 22, 2026
Stuller Names New Chief Merchandising, Marketing, Sales OfficerTaylor Burgess, who has been at Stuller since 2013, was promoted to the newly created role.
PodcastsJan 21, 2026
Episode 1: High Gold Prices, the Diamond Dilemma, & What’s NextWas 2025 a good year for jewelers? Did lab-grown diamonds outsell natural? Find out on the first episode of the “My Next Question” podcast.
EditorsJan 21, 2026
6 Jewelry Designers Poised to Have a Breakout Year in 2026Whether you recognize their jewels or are just discovering them now, these designers’ talent and vision make them ones to watch this year.
CrimeJan 21, 2026
4 Men Charged in $1.7M California Smash-and-Grab Jewelry Store RobberyPlus, JSA’s Scott Guginsky discusses the need for jewelers to take more precautions as the gold price continues to climb.
