In today’s post we discuss the name chosen by the British Duke and Duchess of Cambridge for their baby daughter and explain how you can make sure that your insurance agency’s name endures even after your retirement.
Celebrations erupted across Britain on Saturday May 2, 2015 after the Duke and Duchess of Cambridge welcomed their second child early that morning. Kate Middleton gave birth to a baby girl at Lindo Wing, St. Mary’s Hospital in Paddington, London, at 8.34am. The town crier delivered the good news to members of the public. The princess is fourth in line for the throne following changes to the monarchy’s rules to remove gender bias. There was tremendous excitement surrounding this birth, as the baby is the first princess born into the British royal family since Princess Eugenie, 25 years ago. Tower Bridge, Trafalgar Square and Jubilee Bridge in London all went pink to celebrate the arrival and many politicians and celebrities sent their well wishes to the royal couple. President Barack Obama and his wife Michelle issued a statement saying, “On behalf of the American people, we wish the Duke and Duchess and their son George much joy and happiness.”
Public attention soon shifted to baby names. Everyone was left in suspense for two days while the Duke and Duchess decided on a suitable name for their daughter. Alice, Olivia and Diana proved strong contenders among bookies but Charlotte was the most popular. Bookmakers paid out more than £1 million after the princess was named Charlotte Elizabeth Diana in honor of her grandfather, late grandmother and great-grandmother. Charlotte is the feminine version of Charles and is also the middle name of Kate’s sister, Pippa Middleton. The name is French in origin and means “petite” and “feminine” or “free man”. She is not the first Charlotte in the royal family. Queen Charlotte was the wife of George III, and was a keen botanist who founded the world-renowned Kew Gardens. It is also significant that Her Royal Highness Princess Charlotte of Cambridge was born on the same day as Princess Charlotte’s wedding to Prince Leopold in 1816. The name is likely to become popular with parents across the country.
Coming up with a unique and unforgettable name for your business can be just as difficult as deciding on a name for your baby. The business name has a massive impact on how customers and investors view your company. It is such an important decision that there are successful companies, such as Igor and A Hundred Monkeys, dedicated to creating the perfect name for your business. After spending so much time thinking up the business name and making it a household name, no insurance agency owner wants to see it disappear after their retirement.
Most sellers of insurance agencies think that they must convince potential buyers that their agency name is a valuable trade name with a strong reputation behind it. The reality is that the most of the large publicly traded brokers don’t have a recognizable name outside of the industry. As a result, most agencies continue to business under their former name. Formal contracts and documents will use the official corporate name. The majority of the time it is not worth it as it ends up costing a lot of money and upsetting longstanding customers. You need to highlight this to buyers and ensure that your business name remains in place and retains its significance.
