Uncle Nearest CEO Fawn Weaver tells Invest Fest audience ‘stay the course’
Earlier this month, Tennessee-based spirits company Uncle Nearest Premium Whiskey and its distillery were placed under receivership by a federal judge for unpaid loans exceeding $100 million.
Uncle Nearest CEO Fawn Weaver was placed under a gag order from discussing the case, but she still stepped on the main stage at Invest Fest, a financial literacy conference held at Georgia World Congress Center last weekend. She told entrepreneurs to expect challenging times when building a business empire but to stay the course.
“I’m currently at my 20th hurdle that seems insurmountable to anybody else, but you can’t play it safe. My level of success is based on risk, and you have to determine how big you want your success to be. I built a $60 million distillery that you can’t even walk around because there are so many sold out tours,” Weaver told the cheering audience.
“We’re having the best sales that we’ve ever had in the history of the company. I was coming into a space in which I was not necessarily being welcomed, but I was coming in like a wrecking ball. Do not get distracted, because if you focus on the hurdle itself, you will fall.”
Weaver shared additional tips on resilience and finding investors. She encouraged small business owners to connect with people who understand their vision.
“Every high-net-worth investor runs in packs, and if they’re excited about you, they’ll tell another one. You can bump into somebody on the way out of here and have no idea that either they (are) or they have a direct connection to put you with the person to fund your business,” Weaver said.
Bessie Barnes, owner of Charlotte-based vegan dessert company Cocoa’s Cookies, has regularly attended Invest Fest since 2022. She told UATL Weaver’s appearance despite her circumstances sets an example for minority business owners.
“It’s amazing. She’s a trailblazer who’s paving the way for female entrepreneurs like me to be able to hit the ground running and create a big impact,” Barnes said.
Other highlights of Invest Fest
Invest Fest is a three-day flagship event from Earn Your Leisure, a platform centered around financial freedom and investing which has gained notoriety through its popular podcast and online seminars. Celebrities Steve Harvey, Charlamagne tha God, Earvin “Magic” Johnson and Pinky Cole were among the talents that spoke throughout the weekend.
Programming for the event, which just completed its fifth year, included panels, pitch competitions, workshops, food trucks, a step show, musical performances, stand-up comedy and a vendor’s market.
Panels focused on cryptocurrency, artificial intelligence, content creation, real estate, taxes, fintech, media ownership and estate planning.
Issa Rae, creator and star of the former HBO comedy series “Insecure,” held a fireside chat about her evolution from media talent to businessperson. She’s now a partner in coffee shop chain Hilltop Coffee and Kitchen, owner of sparkling wine company Viarae and record label Raedio.
Rae told the audience starting new businesses is about collaboration. “Recognize what other people bring to the table and put the egos aside,” Rae told the audience.
Several Atlanta-based businesses used Invest Fest to showcase their products and services in Invest Fest’s vendor market, including clothing, home furnishings, books and financial services.
Double Dutch Aerobics, an exercise studio on Bolton Road, has been an Invest Fest vendor three years. Owners Sean and Michelle Clark earned a $25,000 grant from Bevel, an Atlanta-based men’s grooming and personal care line, and Invest Fest last year.
The funds allowed the married business partners to hire additional staff and implement scheduling systems. “We were able to take ourselves out of certain roles and doing paperwork so that we can interface with the public more,” Michelle Clark said.
Bevel CEO Damon Frost, who attended Invest Fest for the first time this year, said Double Dutch Aerobics is “inspiring.”
“They’re passionate, have hustle, a clear vision, mission, a tremendous story they’re trying to tell and they’re making a difference,” Frost said.
Stonecrest resident Rell Ellis has showcased his streetwear apparel line Absolute Victory Everyday at Invest Fest for two years. The collection features shirts and hoodies with uplifting slogans like “Hope Dealer” and “God Didn’t Put Me Here to Lose.”
Ellis said attending Invest Fest is a great way to market direct to consumer. “It gives us a chance to put our best stuff forward, elevate ourselves at all points, and network and mingle with other entrepreneurs like Black folks should,” he said.
Invest Fest’s vendor’s market introduced food products for the first time. Cocoa’s Cookies sold treats like spiced strawberry basil, blueberry cardamom cookies and gluten-free brownies.
Barnes, who opened Cocoa’s Cookies in 2023, said becoming a preferred vendor taught her to monitor inventory. “I used to only make about 30-40 cookies at a time, but I had to bake over 2,000 cookies to be here. It’s a lot of work, but I’m learning how to scale my recipes,” she said.
First-time attendee Jason Steele, a Sandy Springs resident, said attending Invest Fest is how those considering opening a business can learn sustainability and expand their network.
“It celebrates a meeting of the minds, and you get to meet a lot of talented Black people who are hard workers. It’s the perfect vibe,” he said.
About the Author
Christopher A. Daniel is a Black Culture reporter for The Atlanta Journal-Constitution. He is an Atlanta-based, award-winning journalist, cultural critic and ethnomusicologist. He previously taught courses at Morehouse College, Clark Atlanta University and Georgia State University.
