As a ritual which every B-school aspirant has to perform, I also wrote B-school essays before joining my MBA program. I remember one of the phrases of one essay the most – “…making mistakes that will cost nothing in a classroom environment…”. I knew I will learn from the mistakes as well. I feel, a failure teaches long lasting lesson then a success. I have learnt a lot from the mistakes during last couple of months. I am sure, I am going to live with and implement these learning in coming time.
With a lot of disappointment I started writing this blog after my exam of Pricing Strategy. Then I realized thank god I did not commit the mistake in business; one incorrect pricing and revenues and profits take a beating. I started writing my mistakes and learning, so that I can revisit what I should not do and what I learnt. This would remind me that the Journey itself is the destination, so learn non-stop. Here are few of the lessons –
1. Never believe in the forecasts, forecasts are correct hardly 15-20% of the times. I bet Murtaza and Avanii would agree with me 100% on this.
2. Start early (in B-School simulation too), starting early and keeping the momentum going; it helps
3. Always have a “to do list” and prioritize work – for this I wrote funny statement which only a few could understand “Tomorrow is your exam (sense of urgency), day after tomorrow you will die (prioritize your work, before dying what would you do?)”. I used to do this but here in my MBA this has been reinforced to an even greater extent
4. Failing to score well in exams is alright, but failing to learn a concept and missing to use concept is a punishable offence – “a crime”. I learnt pricing strategies concept, explained the same to my friends and yet in the exam forgot to apply that. There is no ifs and buts for this crime
5. I always write my blog on one concept ‘collaboration’, I observed this in outside world, I used it a lot in my MBA and that is the way for the future of businesses
6. Ask questions, better to be stupid for some time. I have been stupid in some classes (recently, in class of Prof Lopez and Prof Ram Kumar) but that is better than assuming something incorrect
To be continued in next blog…