As we get older, failure is not so inconsequential anymore. What’s at stake is not some arbitrary grade or intramural sports trophy, but the quality of your life and your abiity to deal with the world around you.
Don’t let that intimidate you, though. You have the best teachers in the world: the wisest philosophers who ever lived. And not only are you capable, the professor is asking for something very simple: just begin the work. The rest follows.