Toke Makinwa has recounted her struggles with entrepreneurship, revealing that her attempts to establish handbag and makeup businesses were unsuccessful
Makinwa made this known during an interview on Master of Craft, a YouTube storytelling series by Pawnshop by Bluradish.
Speaking about her experiences, the media personality admitted that she had ventured into the handbag business before trying her hands at makeup, but neither business achieved the success she anticipated.
Reflecting on the setbacks, she described entrepreneurship as a continuous process of taking risks, making mistakes and learning from them.
She said: “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.”
Makinwa also spoke about the importance of identifying weaknesses in business ideas and products rather than remaining attached to unsuccessful strategies.
The media personality further advised entrepreneurs to remain open to learning, seek constructive criticism and surround themselves with people who can challenge their ideas.
“Maybe it’s the colouring, maybe it’s the stitching, maybe it’s just the idea. You have to keep learning on the job,” she said.
“If you are the smartest person in the room, you’re in trouble,” she added.
She also encouraged business owners to improve their financial knowledge, particularly in investment opportunities such as stocks and bonds.
Despite her previous business setbacks, Makinwa urged aspiring entrepreneurs not to allow temporary difficulties to determine their future ambitions.
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