Toke Makinwa Opens Up About Failed Businesses, Reveals What She Plans to Do Next

According to Punch, November 11, 2026, Nigerian media personality and entrepreneur Toke Makinwa has spoken candidly about her unsuccessful business ventures, revealing that both her handbag and makeup businesses failed despite her efforts to establish them.

The media personality, however, has not completely given up on entrepreneurship, as she disclosed that she is working towards bringing back her makeup brand after learning important lessons from her previous experiences.

Makinwa shared these details during an appearance on Master of Craft, a YouTube storytelling series produced by Pawnshop by Bluradish and released on Wednesday, November 4.

Looking back at her journey as a businesswoman, she admitted that her attempt to establish a handbag line did not work out, while her subsequent move into the beauty industry also ended in failure.

Rather than hide those experiences, Makinwa described them as part of the process of becoming a better entrepreneur.

She explained that business setbacks had taught her to accept risks and understand that not every decision would produce the expected results.

According to her, the important thing is to learn from unsuccessful attempts and use those experiences to make better choices in the future.

“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.

Makinwa also advised entrepreneurs against becoming too emotionally attached to business ideas or products that are not performing well. She noted that sometimes the problem could be found in seemingly small details that business owners might overlook.

“Maybe it’s the colouring, maybe it’s the stitching, maybe it’s just the idea,” she said, stressing the importance of identifying what went wrong.

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

Beyond her experiences with business failures, the media personality also spoke about the importance of making informed financial decisions, particularly when it comes to investing money.

She questioned why individuals would keep large amounts of money in their bank accounts without exploring opportunities to make their finances productive.

“What is a billion dollars worth if it’s just sitting there?” she asked.

She encouraged people to understand different investment options, including bonds and stocks, before committing their money. She also advised seeking professional guidance rather than making financial decisions without adequate knowledge.

On leadership and business management, Makinwa warned entrepreneurs against allowing pride to prevent them from learning from people with greater experience or different areas of expertise.

She explained that successful business owners should build relationships with individuals who can offer useful advice, challenge their ideas and provide constructive criticism.

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

The media personality also had a message for aspiring entrepreneurs and individuals who feel discouraged because their efforts have not yet produced the results they desire.

She observed that success does not always come immediately, adding that many people who eventually become successful have experienced rejection, uncertainty and periods when nobody paid attention to their efforts.

Makinwa urged people not to allow their present difficulties to determine what they believe they can achieve in the future.

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

When asked what she would tell someone going through a difficult period, she emphasised the need to remember the reason they started pursuing their ambitions in the first place.

Her comments reflect the lessons she says she has gained from her own entrepreneurial journey, particularly the importance of accepting failure, remaining open to learning and staying committed to long-term goals.

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