Making My Own Logo
1. Simplicity: your logo shouldn't be over-crammed with images or information. It should be simple enough so that people can remember it easily. You can also add a slogan if you think it would help people know the purpose of your business immediately.
2. Uniqueness: you logo shouldn't look like an already existing trademark. This will get you in trouble or people might mistake your business for something else.
3. Colors: the colors on your logo should apply to every single media that it could be advertised in. For example, your logo should still look recognizable in a b&w newsprint or a very colorful advertisment in a website. You can also use colors to convey emotions that you want your clients or costumers to feel. Bright and powerful colors are usually red, yellow or orange. Colors such as green, blue, or purple will have a more cool and laid-back feeling.
4. Compatibility: your logo should go with the name of your business. For example, if your symbol represents or looks like some kind of vigorous activity, but your business name says "Sleep for Everyone", it gives a contradicting message. You should avoid this.
That's basically what you have to remember. To go into further depth into the explanations, you can visit these websites:
-http://en.wikipedia.org/wiki/Logo
-http://www.grantasticdesigns.com/logos1.html
-http://www.soslogodesign.com/TenTips.html

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