For the second in the series of posts answering frequently asked questions about NWA FaithWorks, we take up the topic of what makes NWA FaithWorks unique. Josh Bryant has a saying, "differentiate or die." He didn't coin the phrase - that honor belongs to Jack Trout in his book by the same title. However, the premise is the same. Any business that is not unique in its field and service area is going to have a hard time surviving. There are other incubators here in Northwest Arkansas. What makes NWA FaithWorks different?
Faith-Based. There are few faith-based incubators anywhere in the country, and none of them are based in Northwest Arkansas. NWA FaithWorks is one of the few in the U.S. that are markedly faith-based and designed to help entrepreneurs build and run a business consistent with their faith and as a means of taking the gospel to Northwest Arkansas and the world.
Lawyer Lead. There are also very few incubators lead by attorneys in the U.S., and none of them are based in Northwest Arkansas either. Since it is lawyer lead, those in the program can have all of their legal work done at no fee. Since Josh Bryant is a tax attorney, entrepreneurs in the program have all of their tax work done at no fee as well. In a world that is becoming more regulated and litigious by the minute, it helps to have a lawyer coach you through the startup years of your business. For more on why you should join a lawyer lead incubator, see our previous post.
No Equity. Neither Josh Bryant nor NWA FaithWorks take an equity stake in your business. Many incubators will allow you to enter their program for no fee other than taking an ownership interest in your business. This is your business, so we want you to own it and run it. We won't take an equity stake in your company in exchange for your participation in the program. We have a simple fee that covers everything: utilities, rent, phone, internet, legal work, tax work, access to capital, discipleship, networking, and more. That fee is a flat $400 per month.
Competitor Ban. We will not admit two entrepreneurs to the program that compete with one another. If we get an insurance agent in the program, that will be the only insurance agent we have. When we get a graphic designer, that will be the only graphic designer in the program. Josh Bryant wants your business to succeed, so he will not admit your competitors to the program. This will give you a distinct advantage over your competition.
There are only a few spots left in the incubator. Put in your application today by clicking on the NWA FaithWorks tab above.
Josh Bryant is an attorney, entrepreneur, pastor, and visionary with a heart to see churches, businesses, and families more secure, more effective, and more efficient in fulfilling their mission and bringing glory to God.