Media personality and entrepreneur Toke Makinwa disclosed that both her handbag line and her makeup brand have failed, while she is now working to revive the latter. She made the admission during a recent episode of “Master of Craft,” a YouTube storytelling series presented by Pawnshop by Bluradish.
Makinwa said the first attempt at launching a handbag collection did not succeed, and her subsequent makeup venture also fell short. “I failed,” she told the audience, emphasizing that repeated setbacks can still be a form of progress when entrepreneurs learn from them.
She urged fellow business owners to scrutinise the weak points in their products and strategies rather than cling to ideas that are not working. “Maybe it’s the colouring, maybe it’s the stitching, maybe it’s just the idea,” Makinwa said, adding that “you have to keep learning on the job.”
On financial management, Makinwa warned against letting large sums sit idle in bank accounts, asking, “What is a billion dollars' worth if it’s just sitting there?” She encouraged entrepreneurs to explore productive investment options such as bonds and stocks and to seek professional advice when needed.
Speaking on leadership, she cautioned against letting pride block learning, noting, “If you are the smartest person in the room, you’re in trouble.” She advised surrounding oneself with people who bring different skills and constructive criticism, and reminded listeners not to let current hardships dictate their future: “Do not let your now determine your future. Remind yourself of your why.”
<small>Source: Daily Post Nigeria — read the original story there.</small>
