My Handbag, Makeup Businesses Failed – Toke Makinwa Opens Up About Entrepreneurial Struggles
Popular Nigerian media personality, actress and entrepreneur, Toke Makinwa, has opened up about her unsuccessful business ventures, revealing that her attempts to establish handbag and makeup businesses did not go as planned.
The media personality made this revelation while reflecting on her entrepreneurial journey during an episode of Master of Craft, a YouTube storytelling series presented by Pawnshop by Bluradish.
According to Makinwa, her first attempt at launching a handbag business was unsuccessful, while her subsequent makeup venture also failed. Despite the setbacks, she explained that the experiences taught her important lessons about business management, taking risks and the importance of learning from mistakes.
Speaking about her experiences, Makinwa admitted that failure had been a recurring part of her journey but maintained that it should not stop anyone from pursuing their ambitions.
She described the process as constantly failing but learning to move forward, adding that entrepreneurs must be comfortable taking risks that help shape their future decisions rather than destroy their progress.
The media personality stressed that business owners must be willing to identify the weaknesses in their products and strategies instead of becoming emotionally attached to ideas that are not delivering results.
She noted that the problem could be anything from product colouring and stitching to the entire business concept.
According to her, entrepreneurs must remain open to criticism, continuously improve their products, and understand that learning on the job is an important part of building a successful business.
Makinwa also disclosed that she was working towards reviving her makeup brand, suggesting that her previous experience has not completely discouraged her from exploring opportunities in the beauty industry.
Beyond discussing her business setbacks, the media personality also shared her thoughts on financial management and investment.
She encouraged individuals to become more financially knowledgeable, particularly when it comes to understanding investment opportunities such as bonds and stocks.
Questioning the idea of leaving huge amounts of money idle in bank accounts, she challenged people to understand how their money could be put to productive use.
She also advised aspiring entrepreneurs to seek professional financial guidance before making investment decisions.
Speaking further, Makinwa addressed the importance of leadership, teamwork and surrounding oneself with people who can offer different perspectives.
She warned business owners against allowing pride and ego to prevent them from learning from others, stressing that constructive criticism can help businesses grow.
She also encouraged people experiencing difficulties in their careers and businesses not to allow their present circumstances to determine their future.
According to her, having a clear understanding of one’s purpose is important when navigating challenging periods.
Her revelation offers a glimpse into the less glamorous side of entrepreneurship, reminding aspiring business owners that success does not always come without setbacks, disappointments and difficult decisions.
For Makinwa, the experience appears to have reinforced one important lesson: failure does not have to be the end of the journey, but an opportunity to learn, improve and try again.
