Toke Makinwa opens up about her failed handbag and makeup businesses, lessons from setbacks and plans to revive her makeup brand
Nigerian media personality and entrepreneur, Toke Makinwa, has revealed that her attempts to establish handbag and makeup businesses were unsuccessful, while expressing plans to revive her makeup brand.
Makinwa made the disclosure during an episode of Master of Craft, a YouTube storytelling series presented by Pawnshop by Bluradish and released on Wednesday, November 4, 2026.
Reflecting on her entrepreneurial journey, she admitted that her first attempt at launching a handbag line did not succeed and that her subsequent makeup business also failed.
“I failed,” she said, describing her experience as a series of setbacks that taught her important lessons about entrepreneurship.
Rather than allowing the failures to discourage her, Makinwa said she had learnt to see them as opportunities to improve her decisions and business strategies.
“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.
The media personality stressed that entrepreneurs must be willing to identify weaknesses in their products and business ideas instead of remaining attached to unsuccessful strategies.
“Maybe it’s the colouring, maybe it’s the stitching, maybe it’s just the idea,” she said, explaining that business owners must be prepared to learn from their mistakes.
“You have to keep learning on the job,” she added.
Makinwa also disclosed that she was working towards reviving her makeup brand, indicating that her previous experience had not diminished her interest in the beauty industry.
On financial management, she encouraged individuals to become more knowledgeable about investment opportunities, arguing that money should be put to productive use rather than left idle in bank accounts.
Questioning the practice of keeping large sums without investing them, she asked, “What is a billion dollars worth if it’s just sitting there?”
She advised aspiring investors to understand financial instruments such as bonds and stocks before committing their money, while seeking professional guidance where necessary.
The entrepreneur also spoke about leadership, warning business owners against allowing pride to prevent them from learning from others.
According to her, entrepreneurs should surround themselves with people who have different skills and can challenge their ideas through constructive criticism.
“If you are the smartest person in the room, you’re in trouble,” she said.
Addressing aspiring entrepreneurs and people experiencing difficulties in their careers, Makinwa urged them not to allow their present circumstances to limit their ambitions.
She observed that many successful individuals had experienced rejection, uncertainty and periods when their efforts attracted little attention before achieving recognition.
She encouraged people to remain committed to their ambitions even when their businesses were struggling or they had yet to receive the support they expected.
“Do not let your now determine your future,” she advised.
Asked what advice she would give people going through difficult periods, Makinwa emphasised the importance of remembering the purpose behind their ambitions.
“Remind yourself of your why,” she said, noting that a clear sense of purpose could provide the motivation to persevere through challenging circumstances.
