{"id":311,"date":"2013-05-17T05:05:34","date_gmt":"2013-05-17T05:05:34","guid":{"rendered":"http:\/\/scqa.hult.edu\/en\/news\/hult-labs\/2013\/may\/dont-be-afraid-of-failure-get-to-know-it-well-and-your-career-will-thank-you\/"},"modified":"2026-03-23T11:02:56","modified_gmt":"2026-03-23T11:02:56","slug":"dont-be-afraid-of-failure-get-to-know-it-well-your-career-will-thank-you","status":"publish","type":"post","link":"https:\/\/www.hult.edu\/blog\/dont-be-afraid-of-failure-get-to-know-it-well-your-career-will-thank-you\/","title":{"rendered":"Don\u2019t Be Afraid of Failure: Get to Know It Well\u2014Your Career Will Thank You"},"content":{"rendered":"<p>If you haven\u2019t failed at anything by the time you read this sentence, then we at Hult Labs urge you to share your secret for continued success in the comments section below. But I\u2019d bet the $20 in my pocket (or the mocha on my desk) that you\u2019ve dealt with failure at some point in your life and career \u2013 and probably more than once. I\u2019m also willing to bet that after the sting of failure receded somewhat you realized that you had learned a thing or two, and that your ability to bounce back each time was a bit faster and better still, a bit <em>easier<\/em>.<\/p>\n<p>But before it can get easier, there\u2019s no evading the baptism by fire that only failure can bring in school, at work, and in life. In 2010, Guillermo Sanchez Jr., just out of business school only two years, was tapped by his family\u2019s business to lead a brand new venture. Based in Monterrey, Mexico, Sanchez was tasked with piloting a new outsourcing service for a client, an IT distributor, in Texas. The economic environment at the time was still clouded by the recent financial crisis, and the exchange rate between the US Dollar and Mexican Peso fluctuated wildly on a daily basis. Both sides signed a contract that included a fixed exchange rate for services \u2013 one that Sanchez began to regret when the Mexican economy soon rebounded.<\/p>\n<p>\u201cEven though we were meeting the client&#8217;s expectations, having an exchange rate that wasn&#8217;t aligned to reality was making us lose a lot of money,\u201d said Sanchez. \u201cNot only that, but we started having problems recruiting because we could only offer below market rates. It was a big failure. We nearly had to close shop the very first year.\u201d Mother Nature had also played a role: when Hurricane Alex hit Monterrey in June of 2010, the powerful storm brought the city to a standstill, and displaced Sanchez\u2019s team for three months.<\/p>\n<p>It was only when Sanchez approached the client to discuss the impending failure of the project (and his family&#8217;s business) that both parties were able to collaborate on what he called a \u201cmutually-designed solution.\u201d Prior to the sit-down, Sanchez had also learned firsthand how the \u201cblame game\u201d only served to obscure a real, workable solution for everyone involved. \u201cFailure can come due to unpredictable factors and not be anybody&#8217;s fault. Thus, finding who to blame is not only harmful, but it is also often pointless,\u201d he said.<\/p>\n<p>In his article \u201c<a href=\"http:\/\/switchandshift.com\/make-failure-your-greatest-asset\">Make Failure Your Greatest Asset<\/a>,\u201d Ted Coine asserts that the experience of failing is critical because it helps us to develop \u201cone of the most important traits a leader needs to be successful: empathy.\u201d But you don\u2019t just have to take Coin\u2019s word for it. Business schools are beginning to recognize that successful graduates need more than \u201cthe chops\u201d to get things done; they need essential skills like persistency, resilience and empathy. Because the business world highly values these skills, business schools are now also looking for them in prospective students.<\/p>\n<p>In the article \u201c<a href=\"http:\/\/online.wsj.com\/article\/SB10001424127887324582004578456770420379666.html?mod=WSJ_hpp_MIDDLENexttoWhatsNewsTop\">B-Schools Know You Think, but How Do You Feel?<\/a>,\u201d Melissa Korn writes that &#8220;schools are trying to choose from a crowded pool of well-qualified applicants and get a sense of the human being behind the application by adding personality tests and\u2026in-person interviews to the traditional battery of essays, transcripts and recommendations. Now, prospective M.B.A. students need to shine by showing emotional traits like empathy, motivation, [and] others.&#8221;<\/p>\n<p>As business schools experiment with ways to measure &#8220;softer&#8221; skills among applicants and students (and figure out how to help students develop these skills further) one thing is clear: assessment tools may show students where they stand in the moment, but they don\u2019t offer an action plan for improvement. What&#8217;s a surefire way to improve your levels of resiliency and empathy, among others? You have to take risks and you have to fail. Rinse and repeat. Forever. And that\u2019s OK.<\/p>\n<p>\u201cEverybody tries to avoid failure,\u201d said Sanchez, after recounting the story about the project that nearly failed. \u201cRisk is inherent in business. If you try to avoid risk, you&#8217;ll never get any business done. If we had waited until circumstances were perfect, we would have never started our test pilot. Sometimes you win, and sometimes you don&#8217;t, and that&#8217;s fine, as long as you keep trying.\u201d<\/p>\n<p>Did the near-failure of the project lead him to feel a greater degree of empathy? \u201cI\u2019d like to think so,\u201d said Sanchez. \u201cI learned a lot about risk from business school, but in a very abstract way. I learned how to quantify it, but not how it feels or how to face it. It definitely took being in a real world situation to learn about risk and failure more personally. It is more valuable to know oneself in the face of failure than to calculate a probability. I would advise students to try out new things that are hard and fail constantly until they succeed so that the learning never goes away.\u201d<\/p>\n<p>So, in a sense, failure can be our ally, right? And maybe if we look at it that way we could think about deliberately courting it from time to time, carefully at first, and then more brazenly over time. Because maybe if we get to know it a little bit better we don\u2019t have to be so scared when it comes to visit. Instead of running and hiding, we can sit it down for coffee and a good talk. Maybe we&#8217;d invite failure to come around more by being more willing to take smarter, riskier bets in our jobs and in our lives. And if we pay attention, maybe failure would teach us that we are more capable, resilient, and creative than we ever imagined.<\/p>\n<p>About a year ago, writer Neil Gaiman gave a <a href=\"http:\/\/vimeo.com\/uartsphilly\/neil-gaiman-addresses-the-university-of-the-arts-class-of-2012\">commencement address<\/a> at the University of Arts in Philadelphia in which he told the graduating class: \u201cWhen things get tough, this is what you should do: Make good art.\u201d Quick interjection: you don\u2019t have to be an artist for the aforementioned words to resonate. Substitute whatever your passion is wherever the word \u201cart\u201d appears, and it should hit home. Back to Gaiman: \u201cHusband runs off with a politician \u2014 make good art. Leg crushed and then eaten by a mutated boa constrictor \u2014 make good art\u2026Make it on the bad days, make it on the good days, too.\u201d Through life\u2019s slings and arrows (and rainbows and rose gardens), make the commitment to persevere <em>no matter what<\/em>.<\/p>\n<p>So it\u2019s in the spirit of professional and personal growth that we\u2019ll conclude with another rousing, if not failure inducing, Gaiman quote. \u201cIf you are making mistakes, then you are making new things, trying new things, learning, living, pushing yourself, changing yourself, changing your world. You\u2019re doing things you\u2019ve never done before, and more importantly, you\u2019re Doing Something. Whatever it is you\u2019re scared of doing, Do it. Make your mistakes, next year and forever.\u201d<\/p>\n<p><em>Photo courtesy of <a href=\"http:\/\/www.flickr.com\/photos\/86530412@N02\/8226451812\/sizes\/m\/in\/photostream\/\" target=\"_blank\" rel=\"noopener\">Stock Monkeys.com<\/a>.<\/em><\/p>\n<p>Hult offers a range of highly skills-focused and employability-driven <a href=\"https:\/\/www.hult.edu\/en\/programs\/\">business school programs<\/a> including a range of MBA options and a comprehensive one year <a href=\"https:\/\/www.hult.edu\/en\/programs\/masters\/international-business\/\">Masters in International Business.<\/a> To find out more, take a look at our blog <a href=\"https:\/\/www.hult.edu\/blog\/business-school-2019-resolution\/\">Why going to business school in 2019 is a resolution you should keep<\/a>. Download a brochure or get in touch today to find out how Hult can help you to learn about the business world, the future, and yourself.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you haven\u2019t failed at anything by the time you read this sentence, then we at Hult Labs urge you to share your secret for continued success in the comments&#8230;<\/p>\n","protected":false},"author":4,"featured_media":2132,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[24],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Don\u2019t Be Afraid of Failure: Get to Know It Well\u2014Your Career Will Thank You | Hult International Business School<\/title>\n<meta name=\"description\" content=\"If you haven\u2019t failed at anything by the time you read this sentence, then we at Hult Labs urge you to share your secret for continued 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