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Your business model formula translates your business model into financials. So for example, we sell this product or service to these target customers. The reason our customers buy our product is this compelling benefit. We have an advantage over our competition because of this sustainable competitive advantage.

17. Methods of appointing directors. (b) by a decision of the directors. (2) In any case where, as a result of death, the company has no shareholders and no directors, the personal representatives of the last shareholder to have died have the right, by notice in writing, to appoint a person to be a director.

All companies except one person company (OPC) should hold an AGM after the end of each financial year. A company must hold its AGM within a period of six months from the end of the financial year.

The Procedures For AGM On the other hand, a private company is not required by law to hold an AGM each year. The business conducted at an AGM usually includes the declaration of a dividend, discussions on the company's accounts and reports, the appointment of new directors or company auditors.

An AGM is a legal requirement for all public companies in all major jurisdictions, though privately-owned companies are not held to such strict requirements.

Annual general meetings A private company is no longer required to hold an annual general meeting There is, therefore, no provision made for AGMs in the model articles on the assumption that most small private companies will take advantage of this change in the law.

How to Create a Business Model Identify your audience. Most business model plans will start with either defining the problem or identifying your audience and target market. ... Define the problem. ... Understand your offerings. ... Document your needs. ... Find key partners. ... Set monetization solutions. ... Test your model.