Coming of Age: Shaping the Leaders of Tomorrow, Today
May 01, 13
By Ruth Batson, CEO, American Gem Society
At the American Gem Society’s (AGS) Conclave in Miami last year, David Gardner, CGA, addressed the audience for the first time as the board president and shared with them one of the secrets of his success: as a young jeweler, he became an active participant in the Society’s Young Titleholders program. David was just starting out in business, and found this exciting group of like-minded young individuals to be the elixir he needed to navigate the waters of the jewelry industry. He made new friends, and formed bonds with valued colleagues that have helped guide him throughout his career.
Sitting in the audience that day was a young AGS titleholder who found his speech inspirational. Her name was Anna Samsonova, CGA, with Ben Bridge Jeweler’s in Seattle. The Young Titleholders, over the years, were not as active as they were in David’s youth, and Anna decided something should be done.
Nearly a year later, the group is now a growing, enthusiastic and increasingly vital part of the AGS. The Young Titleholders hold monthly meetings, write many of the articles for the official AGS blog and are “mentoring” an older generation of members on social media.
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The activity of the Young Titleholders in the Society may be a sign of the times for much of our industry. Many jewelers, whether in the AGS or not, have generational businesses. R.F. Moeller Jewelers in Minnesota is a great example. A family-run business for 60 years, Mark Moeller, the president, has two sons, James and Bryan, who are active members of the Young Titleholders and will one day, no doubt, become industry leaders, following in their father’s footsteps.
Many independent retailers know that succession planning is a vital part of their business. In the last year, long-time jewelry stores have closed because they had no one to carry on after the store owners retired. If you look at the American Gem Society, the average age of the members is in the mid-fifties. What happens in 10 years when they want to retire?
Succession planning is not just smart business – it’s urgent business. Statistics from the Family Business Institute reveal only 30 percent of family businesses survive into the second generation, and only 12 percent are still viable by the third, as a result of failed succession planning.
The Baby Boomers are retiring. Behind them are Gen X and Gen Y – generations of professionals with the potential to move up the ladder and succeed the previous generation. It is not always the case. Why wouldn’t we look to the youngest of our workforce, the Millennials, and nurture them to be our next leaders? The time is now, though, while we are still vitally involved in our businesses.
Being a part of an organization like the AGS, I get to see the industry in its entirety. I see the older generation embracing smart phone technology, talking about apps and how they’ve incorporated the latest iPad into their sales presentation. I see younger people seeking their advice, looking to them for clues about their own careers. It’s our job to get them excited in the jewelry industry and how they, as technologically and trend savvy professionals, can take our industry in new and exciting directions. They can be our future leaders if we can inspire and convince them to do so – it’s theirs for the taking.
On the last day of Conclave this year, in Phoenix, our Young Titleholders were sitting at designated tables during our morning membership breakfast. At each table were mentors who are veterans of the Society. The mentors were there to talk to them and to give advice. I am willing to bet that the learning went both ways, though, and our mentors walked away themselves with some new ideas. We are generations, working side by side, learning, growing, and improving. As an industry, this generational mix is shaping the future, and the future is shaping the way we conduct – and think about –business now.