CollectionsApr 03, 2026
Taylor Swift’s ‘Elizabeth Taylor’ Video Puts Jewelry Front and CenterIconic pieces, like the Mike Todd Diamond Tiara, appear in the superstar’s new music video for her song inspired by the actress.
OtherMay 17, 2015
Invest in your best people
Columnist Peter Smith writes that jewelers should spend time and energy on their top performers and not neglect them in favor of helping weaker players improve.
Peter Smith, author of “Hiring Squirrels: 12 Essential Interview Questions to Uncover Great Retail Sales Talent,” has spent 30 years building retail sales teams and has worked in wholesale as well. He can be reached at Dublinsmith@yahoo.com
I had dinner with a former colleague of mine recently and, as I drove home, I was thinking about how much time she and I had spent working on projects together during the years we breathed the same professional air.
I certainly liked and respected her but, even though she had been to my home a time or two over the years, we did not move in the same social circles. We have kids; she does not. Her golf game is really important to her; staying away from the golf course helps to preserve my sanity. Seriously, you should see my game.
Like me, her husband is very much into music, though I expect his Sinatra collection is probably a good deal lighter than my library of songs by Ol’ Blue Eyes. Like my wife, her husband also is in the business but, again, not in such a way as we would all interact with any degree of regularity.
So why did I engage in so many interesting and important projects with this woman? Why did I invest my time in her much more so than with our other colleagues? Quite simply, it was because she was the best. She had a demonstrated track record of superlative performance through the years and that pedigree greatly increased the likelihood of a success on any project with which she was likely to be involved.
Without really knowing why I was doing it, I would regularly invest my time and energy on projects that she deemed worthy of my attention. If she came to me and suggested that we had a business opportunity with an important client, I was all ears. If she told me that one of our higher-profile retailers was having some challenges then I would ready myself to engage in any way necessary. Those challenges weren’t any easier than the others. In fact, they may have been amongst the most demanding as they usually involved the highest-profile customers and/or the most difficult tasks.
While the upside of our efforts was always an important factor, we were always keenly aware that if our efforts were unsuccessful, the losses could be considerable.
Contrary to conventional thinking, I was spending time with my best people, not my weakest people. Instead of taking her competence for granted and moving on to employees who did not have that level of talent,
I preferred to partner with her to tackle projects that gave us the very best opportunity for success.
Investing your time in your top people is counter-intuitive. Most of us are inherently drawn to try to help the weaker players to get better and, while some amount of development time and coaching for your weaker players is imperative, the very best use of your time as a manager is to ensure that you are connected to your best people to help them to do more of what they do well. Your business needs that, your customers need that, and your top people need that attention and recognition even though they are motivated, self-driven and accomplished.
Small percentage gains that come from your top people will very often far exceed big percentage gains from weaker performers. The return on investment from your stars also has a much more sustainable element to it than gains from your weaker people.
Every business has an inherent obligation to provide a route for improvement and growth for all its employees, both strong and weak. It is not only the right thing to you but investment in all your people serves the best interests of your customers and your business. The challenge for the manager of any business is to ensure that the time invested is commensurate with the anticipated return on that investment. No business can afford to have its managers spending 80 percent of their time with the bottom 20 percent of its salespeople.
One of the best business books I have ever read is First, Break All The Rules by Marcus Buckingham. In it, the author contends, “Great managers invest in their best because it is extremely productive to do so and actively destructive to do otherwise.” It might be human nature to want to help improve our weaker performers, but we ought not to do so at the expense of those who are driving the bus.
Peter Smith, author of Hiring Squirrels: 12 Essential Interview Questions to Uncover Great Retail Sales Talent, has spent 30 years building sales teams at retail and working with independent retailers to offer counsel and advice. He also has worked in both retail and wholesale with companies such as Tiffany & Co. and Hearts On Fire. He can be reached at Dublinsmith@yahoo.com and on LinkedIn.
More on Other
The Latest
MajorsApr 03, 2026
Saks Global Says It Will Emerge From Bankruptcy This SummerThe luxury retailer, which went Chapter 11 in January, announced Thursday that it has secured $500 million in exit financing.
Events & AwardsApr 03, 2026
JCK Luxury, NouvelleBox Partner on New Designer BallroomThe NouvelleBox ballroom will feature independent jewelry designers, including Lene Vibe, Wyld Box Jewelry, and Kiaia Limited.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
CollectionsApr 03, 2026
Buddha Mama Brings Its ‘Moon’ Locket To DallasThe one-of-a-kind locket, our Piece of the Week, opens to reveal three hidden images to keep close to your heart.
Weekly QuizApr 02, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsApr 02, 2026
Pandora Opens New Canadian Distribution Center Amid Tariff ConcernsThe new facility was also designed to better serve its growing customer base in Canada.
TrendsApr 02, 2026
Michelle Yeoh Fronts New Mikimoto Campaign The campaign is a tribute to the year 1893, when Kokichi Mikimoto created the world’s first cultured pearl.
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.
GradingApr 02, 2026
GIA Debuts New Campus in TaiwanIt is the only GIA school to offer the GIA Graduate Gemologist program in Chinese.
MajorsApr 02, 2026
DCA Launches ‘Second Spark’ Workforce InitiativeThe initiative connects veterans and parents returning to the workforce with careers in jewelry retail.
MajorsApr 02, 2026
Hoover & Strong Names New National Sales RepresentativeThe wholesale manufacturer and precious metals refiner has appointed Michael Angelo as its new national sales representative.
MajorsApr 01, 2026
Foundrae Sues Pandora for Allegedly Copying Its Medallion DesignsFoundrae also accused the jewelry giant of copying its mood board style of marketing.
AuctionsApr 01, 2026
John Jacob Astor IV’s Titanic Pocket Watch Heads to AuctionA Patek Philippe for Tiffany & Co. timepiece owned by the American businessman who died on the Titanic will be offered at Freeman's Chicago.
SurveysApr 01, 2026
Consumers’ Outlook Improves Again in MarchThe Conference Board’s Consumer Confidence Index edged up, with optimism about the present outweighing worries about the future.
IndependentsApr 01, 2026
Zachary’s Jewelers’ Constance Polamalu to Release Children’s BookThe retailer’s Zach Bear gift comes to life in “Zach Bear and the Window Necklace,” which centers on curiosity, bravery, and helping.
Events & AwardsApr 01, 2026
AGA Opens 2026 Gemological Scholarship, Research Grant ApplicationsApplications are open for the AGA Gemological Scholarship Program through May 15, and until June 2027 for the Gemological Research Grant.
ColumnistsMar 31, 2026
Q1 Clues That Reveal Where Your Jewelry Store’s Sales Are Heading These customer behavior patterns say a lot about how successful your jewelry store is going to be this year, Emmanuel Raheb writes.
CollectionsMar 31, 2026
Mejuri Adds Silver to ‘Puzzle’ CollectionMejuri’s popular collection of 18-karat yellow gold vermeil rings debuted in sterling silver alongside new “Puzzle” slider charms.
CollectionsMar 31, 2026
Buddha Mama, Ashley Longshore to Host Pop-Up in DallasThe Miami-based jewelry brand and the NYC-based artist will be in Dallas from April 9-11.
SourcingMar 31, 2026
NDC Designates April 8 as 'World Diamond Day'The initiative invites those in the industry to share stories on social media highlighting the meaning and impact of natural diamonds.
SourcingMar 31, 2026
GIA VP Jillian Wolk to Take Over at Tracr Wolk’s first day on the job as CEO of Tracr, De Beers Group’s blockchain platform, will be May 1.
EditorsMar 30, 2026
Tom Moses Looks Back on His Decades at GIA Moses, who will leave the lab in May after nearly 50 years, discusses his start in the business, gemstones that stand out, and what’s next.
TrendsMar 30, 2026
Oscar Heyman Debuts First Spring CatalogThe new catalog, which showcases 35 one-of-a-kind pieces of jewelry, is a compliment to the company’s popular holiday catalog.
SourcingMar 30, 2026
Rio Tinto Hauls Last Load from DiavikProduction has ceased at the Canadian diamond mine, which has yielded more than 150 million carats of rough diamonds in its 23-year run.
MajorsMar 30, 2026
Tanishq Opens First New England LocationThe store opening marks the 10th United States location for the India-based jewelry retailer.
MajorsMar 27, 2026
Saks Global Has Changed Its Mind About Closing These 3 StoresTwo Saks Fifth Avenue locations, one in Florida and one in California, and one Neiman Marcus store are off the chopping block.
IndependentsMar 27, 2026
Jimmy West, Longtime LJG Executive Director, Dies at 72West, who started in the art department at the Leading Jewelers Guild in 1979, is remembered for his patience, kindness, and dedication.
