Toke Makinwa Reveals Handbag, Makeup Businesses Failed, Plans Brand Revival

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

However, she disclosed that she is working towards reviving her makeup brand, saying the setbacks have taught her valuable lessons about entrepreneurship, financial management and business leadership.

Makinwa shared the experience during an episode of Master of Craft, a YouTube storytelling series presented by Pawnshop by Bluradish.

Reflecting on her business journey, she admitted that her first attempt at launching a handbag line was unsuccessful, while her subsequent makeup venture also failed.

“I failed,” she said.

The media personality, however, urged entrepreneurs not to allow business setbacks to discourage them, describing failure as an opportunity to learn, improve and make better decisions.

“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 said.

She advised business owners to identify weaknesses in their products and strategies instead of becoming emotionally attached to ideas that are not delivering results.

“Maybe it’s the colouring, maybe it’s the stitching, maybe it’s just the idea,” she said, adding that entrepreneurs must remain willing to learn and adapt.

“You have to keep learning on the job,” she added.

Makinwa also stressed the importance of financial management, urging people to understand investment opportunities and ensure their money is put to productive use.

Questioning the practice of leaving large sums of money idle in bank accounts, she asked: “What is a billion dollars’ worth if it’s just sitting there?”

She encouraged people to educate themselves about investment options, including bonds and stocks, while seeking professional guidance when necessary.

On leadership, Makinwa warned entrepreneurs against allowing pride to prevent them from learning from others. She advised business owners to surround themselves with people who have different skills and can offer constructive feedback.

“If you are the smartest person in the room, you’re in trouble,” she said.

Addressing people facing difficulties in their businesses and careers, she urged them not to allow their present circumstances to determine their future.

“Do not let your now determine your future,” she advised.

She also encouraged people going through challenging periods to remember the reasons behind their ambitions, noting that a clear sense of purpose could help them remain motivated despite setbacks.

“Remind yourself of your why,” she said.