The document discusses the challenges and opportunities faced by the first batch of students at IIMS(HP). Some of the key challenges included lack of infrastructure, few permanent faculty members, miscommunication issues, and difficulties finding placements due to the small batch size and new program. However, there were also opportunities such as establishing the brand name of the new school, learning from the knowledge base of partner IIM Lucknow, exposure to world-class faculty, and the ability to help pioneer the new program. The insights encourage overcoming skepticism, working together, and establishing a legacy through the first graduating class.