Arush Chandna, the co-founder of Quad Education, emphasizes the importance of embracing failure as a leader or entrepreneur. According to MIT Sloan, unexpected leadership failure rates stand at 50% in organizations, pre-pandemic. Failure is inevitable in business, but how one handles it can set them apart. Chandna, being in the ed tech industry, has seen firsthand how students deal with failure in the college admissions process. Many students face rejection from their dream colleges or programs, but their resilience and ability to bounce back is admirable and inspiring.
Chandna believes that reflecting on our college experiences can help us reframe our perspective on failure. He suggests looking back at the activities we led or participated in during college, recalling the risk-tolerant mindset we had, and applying that to our current roles as leaders. By seeing projects as learning experiences and embracing failure gracefully, we can make corrections, adjust goals, and move forward. It’s important to maintain an optimistic and thrilling approach to challenges, keeping in mind that failure is a part of the journey towards success.
Another tip Chandna offers is to pull out your college essay for a confidence boost. Reading about past accomplishments and personal adversities can remind you of your talent and potential. By revisiting your achievements, you strengthen your confidence and prevent failure from hindering your belief in yourself. Confidence is key in embracing failure and moving forward with grace. Failure should not dim your light or that of others involved, and believing in yourself through past successes can help you overcome setbacks.
Chandna also advises recalling instances of adaptability during college. Managing a variety of activities, whether academic, sports, internships, or clubs, requires agility and adaptability. Just like in college, as leaders, we must be able to shift gears, prioritize tasks, and adapt to changes in order to thrive and prevent extreme failure. Embracing failure gracefully means utilizing all available tools, adapting to new circumstances, and accepting outcomes with a positive outlook.
In conclusion, Chandna highlights the importance of leveraging college experiences to enhance leadership skills and embrace failure with optimism. Recalling the thrill of experimentation, past achievements, and adaptability from college days can help leaders navigate moments of crisis or failure. These skills acquired during college can be valuable assets in overcoming setbacks and steering towards success in the entrepreneurial and leadership journey. The ability to handle failure gracefully is essential for personal growth and progress in the business world.
