Toke Makinwa Opens Up About Failed Businesses and Lessons Learned

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Key takeaways

Toke Makinwa has revealed that her attempts to establish businesses in the handbag and makeup industries were unsuccessful.
She discussed her entrepreneurial experiences during an episode of Master of Craft.
The media personality described failure as part of the learning process involved in building a business.
She stressed the importance of taking risks that help shape future decisions rather than undermine future opportunities.
Makinwa disclosed that she is making plans to bring back her makeup brand.
She has not provided a confirmed relaunch date or further details about the proposed return.

Media personality and entrepreneur Toke Makinwa has opened up about her experiences with business ventures that failed, revealing how her attempts to establish brands in the handbag and makeup industries did not produce the results she had hoped for.

Despite the setbacks, Makinwa says the experiences have taught her valuable lessons about entrepreneurship, taking calculated risks and making better decisions. She has also disclosed that she is making plans to bring back her makeup brand.

Toke Makinwa Reflects on Her Business Failures

Speaking about her entrepreneurial journey, Makinwa admitted that building successful businesses has not been an easy experience for her.

During an episode of Master of Craft, a YouTube storytelling series produced by Pawnshop by Bluradish, the media personality discussed her attempts to establish businesses outside her primary career in the entertainment industry.

She revealed that her first attempt at building a handbag business was unsuccessful. Her subsequent move into the makeup industry also ended in failure.

Rather than presenting these experiences as reasons to abandon her ambitions, Makinwa explained that she has come to view setbacks as part of the process of developing as an entrepreneur.

Her comments suggest that she sees business challenges as opportunities to identify mistakes, improve her decisions and gain practical experience.

“It’s Just Constantly Failing” – Makinwa Explains Her Entrepreneurial Lessons

Makinwa described entrepreneurship as a continuous learning process, stressing the importance of being willing to take risks and understand what needs to change when things do not work out.

She explained that failure does not necessarily mean an entrepreneur has reached the end of the road. Instead, the experience can help shape future decisions and provide lessons that may not be gained without taking action.

In her words:

“I failed. 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. Maybe it’s the colouring, maybe it’s the stitching, maybe it’s just the idea. You have to keep learning on the job. What is a billion dollars worth if it’s just sitting there? If you are the smartest person in the room, you’re in trouble. Do not let your now determine your future. Remind yourself of your why.”

Her statement highlights several aspects of the entrepreneurial experience, including the willingness to learn while running a business, the importance of evaluating decisions and the need to remain focused on long-term ambitions.

She also emphasised that taking risks should not mean exposing oneself to setbacks that could completely undermine future opportunities. Instead, the experiences should help an entrepreneur make more informed decisions.

Her Makeup Brand Could Be Making a Return

One notable aspect of Makinwa’s business disclosure is her intention to bring back her makeup brand.

Although she acknowledged that her previous ventures did not succeed, she indicated that she has not completely given up on the makeup business.

Her plans suggest that the experience has not ended her interest in entrepreneurship. However, she has not provided further details about when the brand might return or what changes could accompany the proposed relaunch.

For now, her comments offer an insight into how she is reflecting on her previous business attempts while considering another opportunity in the makeup industry.

Toke Makinwa’s Experience Highlights the Challenges of Entrepreneurship

Makinwa’s account provides a glimpse into the difficulties that can accompany attempts to build businesses, even for personalities who already have public recognition and established careers.

Her experience with the handbag and makeup ventures also demonstrates the distinction between having an idea and successfully developing it into a sustainable business.

By speaking openly about the setbacks, she has highlighted the importance of learning from mistakes, reassessing decisions and remaining willing to improve.

Whether her planned makeup brand return will lead to a different outcome remains to be seen. What is clear from her interview is that Makinwa views her previous business experiences as lessons that can influence the decisions she makes going forward.