Failure helps people gain wisdom and build resilience.
Shashank Bansal is the founder of Propteam, which he co-founded with two of his friends. One is Arun Prasad, an IIM-Indore alumni and working at Ernst & Young, Mumbai. Another one is Vishal Kumar, who worked at the senior level for a few MLM companies.
Shashank was born in Harsud, a small town in Madhya Pradesh's Khandwa district, and attended school there until the tenth grade. Following his education, he pursued a diploma in mechanical engineering from Harda in M.P. and a B.Tech. from Bhopal, all while studying for the GATE. He did well on the test and was accepted to BITS Pilani for his M.Tech. He was then hired by the Nuclear Power Corporation in the vicinity of Kota, where he worked for more than thirteen years before quitting in 2018. His own start-up was eventually launched in 2020 after he quickly dove into the real estate sector to gain an understanding of it.
The start-up first had to deal with a number of difficulties, including substantial financial contributions, investments for experiments in creating their own software, quality testing, and a few failures. When money was tight, they were able to rely on support from their relatives.
Everyone struggled during the COVID era, according to Shashank. He personally struggled with certain financial hardships. The real estate industry fell far behind since salaries needed to be paid and plans needed to be made for investing in technical advancements. He endured criticism from certain people during the difficult trip. However, he saw that as an opportunity and focused on raising the caliber of their output.
According to him, having the fervor and determination to face every challenge and see an opportunity in any circumstance to advance toward your predetermined goals is essential for becoming a successful entrepreneur. He thinks that giving up is not an option.
When asked about role models, he says he doesn't have a specific one but draws inspiration from spiritual figures like Lord Ram, Hanuman, and others. He thinks that the virtues of tenacity, resiliency, and unshakable determination that are essential to entrepreneurship are embodied in these spiritual beings. He attempts to build these qualities in his own entrepreneurial career by taking inspiration from them.
Because of the constant challenges associated with his business, Shashank likes to keep himself occupied while still making time for his family. For general success and well-being, he thinks it's essential to strike a balance between work and family. Shashank is aware of the benefits of spending time with loved ones, including the emotional support it offers as well as the ability to refuel and maintain motivation during his entrepreneurial journey.
Shashank believes that quality education from a renowned institution leads to a significant change in attitude and confidence, promoting a mindset towards success in life. He emphasizes the importance of not settling for less and valuing experience in overcoming challenges and pushing oneself to the limit.
He concludes with a quotation that reads, "To taste the flavor of failure, you must understand the value of success." Failure, in Shashank's opinion, is not something to be dreaded or avoided but rather a crucial stop along the way to achievement. He feels that going through failure helps people gain wisdom, build resilience, and ultimately appreciate the taste of victory even more.