“I failed in my handbag, makeup business” – Toke Makinwa

Media personality and entrepreneur Toke Makinwa has revealed that her handbag and makeup businesses failed despite her efforts to establish herself in the fashion and beauty industries.

However, she disclosed that she is working towards reviving her makeup brand, explaining that her previous experiences have taught her valuable lessons about entrepreneurship and business management.

Makinwa shared these details during an episode of Master of Craft, a YouTube storytelling series presented by Pawnshop by Bluradish. Reflecting on her journey, she admitted that her handbag venture was unsuccessful and her subsequent makeup business also failed.

“I failed,” she said, adding that entrepreneurs should see setbacks as opportunities to learn and make better decisions rather than reasons to give up. “It’s just constantly failing, but failing forward, and being comfortable enough to take those risks that do not actually sink you, but shape your decisions going forward,” she explained.

She advised business owners to identify weaknesses in their products and strategies instead of remaining attached to ideas that are not working. “Maybe it’s the colouring, maybe it’s the stitching, maybe it’s just the idea,” she said, adding, “You have to keep learning on the job.” She also encouraged people to understand investment opportunities and put their money to productive use, asking, “What is a billion dollars’ worth if it’s just sitting there?”

On leadership, Makinwa warned entrepreneurs against allowing pride to stop them from learning from others. She advised business owners to surround themselves with people who have different skills and can offer constructive criticism, stating, “If you are the smartest person in the room, you’re in trouble.”

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Addressing people facing difficulties in their businesses and careers, she urged them not to let their present circumstances determine their future. “Do not let your now determine your future,” she advised, encouraging them to remain connected to the purpose behind their ambitions. “Remind yourself of your why,” she added.