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A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
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Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
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Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
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1. 10 MLM Mistakes to Avoid at
All Costs
Chuck Holmes
Network Marketing Professional
2. Individual results will vary. (c) 2018
www.OnlineMLMCommunity.com
2
Overview
# 1 Promoting Multiple Deals
# 2 Jumping Companies
# 3 Reinventing the Wheel
# 4 Being Short-Sighted
# 5 Not Listening to Your Mentor
# 6 Not Staying Plugged In
3. Individual results will vary. (c) 2018
www.OnlineMLMCommunity.com
3
Overview
# 7 Dabbling with Your Business
# 8 Confusing Busy Work with Productive Work
# 9 Managing Your Team
# 10 Using Hype, High-Pressure & Deception
Final Thoughts
4. Individual results will vary. (c) 2018
www.OnlineMLMCommunity.com
4
We all make mistakes. I've made more than most.
Whether you're new to network marketing, or an
experienced veteran, you will make mistakes from
time-to-time.
5. Individual results will vary. (c) 2018
www.OnlineMLMCommunity.com
5
The key to success is to learn from each mistake and
never make the same mistake twice. Here are some
common mistakes to avoid at all costs:
6. # 1 Promoting Multiple Deals
โข I've never met anyone successful in our industry
promoting multiple MLM Companies at once. Not one
person. Yes, that person might exist, but I've never
met them!
Individual results will vary. (c) 2018
www.OnlineMLMCommunity.com
6
7. # 1 Promoting Multiple Deals
โข To succeed at anything, you have to focus. Could you
imagine an Olympic athlete training for two different
sports? I don't think so. Pick one thing and do nothing
else.
Individual results will vary. (c) 2018
www.OnlineMLMCommunity.com
7
8. # 1 Promoting Multiple Deals
โข Don't expect ANYONE to take you seriously if you are
promoting multiple deals.
Individual results will vary. (c) 2018
www.OnlineMLMCommunity.com
8
9. # 2 Jumping Companies
โข People switch companies like they do their
underwear. It amazes me how many people I talk to
are in a new deal every 1-3 months.
Individual results will vary. (c) 2018
www.OnlineMLMCommunity.com
9
10. # 2 Jumping Companies
โข Folks, you won't build a successful business of any
kind in 1-3 months. Successful businesses take several
years to build. Pick ONE company you want to have
your problems with and stick with it for the long-term.
Individual results will vary. (c) 2018
www.OnlineMLMCommunity.com
10
11. # 2 Jumping Companies
โข No company is EASY to build. The problem is not the
opportunity you are in. The problem is YOU. Until you
develop the right skills and mindset you will fail at
EVERY opportunity you promote.
Individual results will vary. (c) 2018
www.OnlineMLMCommunity.com
11
12. # 3 Reinventing the Wheel
โข Lots of people entering our industry are not
coachable. Rather than listen to their successful
upline, and follow that person's advice, they reinvent
the wheel and try to do things their own way. That
never works! If you are new, or not successful yet, do
not EVER deviate from your successful upline's
system.
Individual results will vary. (c) 2018
www.OnlineMLMCommunity.com
12
13. # 4 Being Short-Sighted
โข Expecting to make money your first year in ANY type
of business is not realistic. You might make money,
but it's highly unlikely.
Individual results will vary. (c) 2018
www.OnlineMLMCommunity.com
13
14. # 4 Being Short-Sighted
โข Why? Businesses take time to build. Could you
imagine a restaurant owner spending $100k to open a
restaurant and then closing it two months later
because he wasn't making money yet? Nope.
Individual results will vary. (c) 2018
www.OnlineMLMCommunity.com
14
15. # 4 Being Short-Sighted
โข You need to take the long-term view with your
business.
Individual results will vary. (c) 2018
www.OnlineMLMCommunity.com
15
16. # 5 Not Listening to Your Mentor
โข You must be coachable. If you have a successful
mentor who is willing to help you, you are a FOOL not
to do what they suggest. When you call your mentor
THEY should do all the talking, not you. You should
take notes and do everything they tell you to do.
Otherwise, you are wasting their time and yours.
Individual results will vary. (c) 2018
www.OnlineMLMCommunity.com
16
17. # 6 Not Staying Plugged In
โข Network marketing is an event driven business. Do
not be the lone wolf. Attend every meeting and event
no matter what. Once people "fade out" of the system
and events, they're normally out of the business in
less than 30-days.
Individual results will vary. (c) 2018
www.OnlineMLMCommunity.com
17
18. # 7 Dabbling with Your Business
โข People treat their business like an unwanted step
child. Most people dabble with their business,
because they have very little money invested in their
business.
Individual results will vary. (c) 2018
www.OnlineMLMCommunity.com
18
19. # 7 Dabbling with Your Business
โข If you treat this like a hobby, you will lose money or
make hobby type income. Act as if you have one
million dollars invested in your network marketing
business.
Individual results will vary. (c) 2018
www.OnlineMLMCommunity.com
19
20. # 7 Dabbling with Your Business
โข Treat it like a business and it will pay your accordingly.
Individual results will vary. (c) 2018
www.OnlineMLMCommunity.com
20
21. # 8 Confusing Busy Work with Productive Work
โข Everyone you talk to is busy. I am. So are you. Being
busy will not grow your business. You must learn to
work smart. Spend ALL of your business hours on
income producing activities: retailing and recruiting.
We get paid to talk to people. Everything else you do
is busywork.
Individual results will vary. (c) 2018
www.OnlineMLMCommunity.com
21
22. # 9 Managing Your Team
โข What most people in our industry do is sponsor 2 to 5
people and then sit back and try to manage them.
That is a costly mistake. Each person on your team is
their own CEO. Your job is to sign people up, give
them their getting started training, wish them luck,
and then go and sign up more people. You are no
one's employer or boss. It's not your job to motivate
or babysit your team. Lead from the front and work
with the willing.
Individual results will vary. (c) 2018
www.OnlineMLMCommunity.com
22
23. # 10 Using Hype, High-Pressure & Deception
โข If you are doing any of those three things, please stop
it immediately. People doing that give our industry a
bad name. There is no reason to ever use hype or
pressure or deception. Be honest with people and
treat everyone as well as you would treat a loved one.
Individual results will vary. (c) 2018
www.OnlineMLMCommunity.com
23
24. Final Thoughts
โข There you have it folks. Those are 10 simple MLM
mistakes to avoid at all costs. Which one is your
favorite and why? Let me know what you think.
Thanks.
Individual results will vary. (c) 2018
www.OnlineMLMCommunity.com
24
25. Suggested Reading
โข Top 10 MLM Recruiting Mistakes in Network
Marketing
โข How to Have Posture in Your MLM Business
โข Focus On the People Who Stay On Your MLM Team
Individual results will vary. (c) 2018
www.OnlineMLMCommunity.com
25
26. About Me
Individual results will vary. (c) 2018
www.OnlineMLMCommunity.com
26
Chuck Holmes is a top producer in his network
marketing company, which specializes in natural and
organic products.
His company offers a free online marketing system
with capture pages and autoresponders.
Chuck gives his team members 200 free leads each
month and provides tons of training. The company
even has a postcard marketing system. Letโs connect.
(352) 503-4816 EST
chuck@onlinemlmcommunity.com
https://www.onlinemlmcommunity.com