26A- Celebrating Failure

1) Last semester I was taking the second Actuary exam. These exams are very rigorous and require much study to pass. I took the first one and did not study much yet was still able to pass which gave me a false sense of security. Therefore I did not study nearly as much as I should've for the second exam. I thought I would be able to pass it as easily as the first one. Due to that, I actually failed it when taking it my first time.

2) I learned that you cannot always count on things coming easily to you. Especially if you have been able to do things one way in the past, you have to account for the fact that you may have to change your tactics depending on the situation.

3) I believe that failure is a necessary and unavoidable part of life. I do not believe that failure will always necessarily help you in the future, but it could be a catalyst for positive change depending on how you react to it. Personally, when I am confronted with failure I first choose to analyze why it was that I failed, in order to understand whether or not I can avoid that failure in the future or whether or not it was inevitable. Doing this will help you to understand how to succeed the next time you are confronted with a similar situation. This class has taught me that many of the most successful entrepreneurs have failed many many times before ending up successful and that you should not be scared to take risks.