TLDR:
- Fawn Weaver built Uncle Nearest into a unicorn worth about $1.1 billion without relying on venture capital.
- She focused on finding a high-potential opportunity, developing a unicorn-building strategy, finding entrepreneur-smart capital, taking off with a finance-smart strategy, keeping control, and acquiring unicorn skills.
Since 2017, Fawn Weaver has successfully built Uncle Nearest into a unicorn worth $1.1 billion, without the reliance on venture capital. As an entrepreneur, Weaver found a high-potential opportunity to honor the accomplishments of ex-slave Nearest Green by founding her own whisky company. She developed a unicorn-building strategy by creating an award-winning whisky, focusing on markets where small distillers have an edge, and investing in minority-owned spirit brands.
To raise capital, Weaver turned to 163 investors while ensuring she and her husband retained 40% ownership of the company. By leveraging the high gross margins of liquor companies and turning the Shelbyville location into a tourist destination, she was able to take off with a finance-smart strategy, avoiding the need for venture capital. Additionally, by keeping control through raising funds from angel investors, Weaver ensured that she retained control over her venture and the wealth it created.
Weaver’s success can be attributed to her ability to find high-potential opportunities, develop a smart strategy, find entrepreneur-smart capital, take off with a finance-smart strategy, keep control of the venture, and acquire the necessary skills to build a unicorn business. By following in Weaver’s footsteps, entrepreneurs can learn valuable lessons on how to navigate the path of growth without relying on venture capital.
