B1-B7 is an abbreviation for paragraphs and the descriiption that follows reflects its focus.
B1-B2: Establishing a setting (who, where, when) by unleashing the day or series of events that lead up to the failure (rising action: what)
B3-B4: Moment of failure (climax).
B5: After the failure has set in, describe how you processed it in the moment at the time.
B6: Wrapping up and ending the story.
B7 Identifying the LIFE lesson learned and your stance on the failure in reflection and tackling failure in the future.