Media personality and entrepreneur, Toke Makinwa, has revealed that her attempts to establish handbag and makeup businesses were unsuccessful, admitting that both ventures failed.\n<\/p>\n
However, she said she was working towards reviving her makeup brand, noting that the setbacks had taught her valuable lessons about entrepreneurship, risk-taking and business management.\n<\/p>\n
Makinwa disclosed this during an episode of Master of Craft, a YouTube storytelling series presented by Pawnshop by Bluradish and released on Wednesday, November 4.\n<\/p>\n
Reflecting on her entrepreneurial journey, the media personality acknowledged that her first attempt at launching a handbag line did not succeed, while her subsequent makeup business also failed.<\/p>\n
\u201cI failed,\u201d she said, describing her experience as one of learning through repeated setbacks.\n<\/p>\n
She explained that rather than allowing business failures to discourage her, she had learnt to view them as opportunities to improve and make better decisions.\n<\/p>\n
\u201cIt\u2019s 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,\u201d she said.<\/p>\n
Makinwa stressed that entrepreneurs must be willing to identify the shortcomings of their products and business ideas rather than remain attached to unsuccessful strategies.<\/p>\n
\u201cMaybe it\u2019s the colouring, maybe it\u2019s the stitching, maybe it\u2019s just the idea,\u201d she said, adding that business owners must be prepared to learn from their mistakes.\n<\/p>\n
\u201cYou have to keep learning on the job,\u201d she added.\n<\/p>\n
On financial management, Makinwa urged individuals to become more knowledgeable about investment opportunities, arguing that money should be put to productive use rather than left idle in bank accounts. <\/p>\n
Questioning the practice of keeping large sums without investing them, she asked, \u201cWhat is a billion dollars worth if it\u2019s just sitting there?\u201d\n<\/p>\n
She encouraged people to understand financial instruments such as bonds and stocks before committing their money, while also seeking professional advice where necessary.\n<\/p>\n
The entrepreneur also spoke about leadership, warning business owners against allowing ego to prevent them from learning from others.<\/p>\n
According to her, entrepreneurs should surround themselves with people who possess different skills and can challenge their ideas through constructive criticism.\n<\/p>\n
\u201cIf you are the smartest person in the room, you\u2019re in trouble,\u201d she said.\n<\/p>\n
Addressing aspiring entrepreneurs and people experiencing difficulties in their careers, Makinwa urged them not to allow their present circumstances to limit their ambitions.\n<\/p>\n
She observed that many successful individuals had experienced rejection, uncertainty and periods when their efforts attracted little attention before achieving recognition.\n<\/p>\n
She said people should remain committed to their ambitions even when their businesses were struggling or they were yet to receive the desired support.\n<\/p>\n
\u201cDo not let your now determine your future,\u201d she advised.\n<\/p>\n
Asked what advice she would give people going through difficult periods, Makinwa emphasised the importance of remembering the purpose behind their ambitions.<\/p>\n
\u201cRemind yourself of your why,\u201d she said, noting that having a clear sense of purpose could provide the motivation to persevere through challenging circumstances.\n <\/p>\n
Source: <\/p>\n
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