There is only one proper way which you need to follow to have a successfully design logo. This is planning. If all goes well, you can have a memorable, recognizable and true brand identity for perfect business representation.
This the vital stage in the entire designing process. Planning is neither the first nor the last step but it goes till the completion of the process. You do planning when you have initial procedure to follow, a symbol to create and finalize.
First, you need to determine the purpose of your symbol. Why you need a brand identity? What purpose it will serve for your business? What is the core communication you need to deliver through your design? At this stage, what you need is memorability, trust worthy and creativity in your brand symbol. This helps in giving your business strong customer association, positive reputation and good first impression.
Secondly, you need to analyze your target audience? What market are you catering? Which industry are you operating in? How, in the best business interest, you can figure out how to attract your target audience?
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Thirdly, what kind of symbol do you want? Symbolic, typographic or a mix of both? Decide upon the best fit for the best business representation? Do you need name recognition, or focus on legibility? What color scheme bests suits the business? At this stage, you need idea generation. Remember; focus on your business identity to deliver your business message in a simple pattern.
When you have carefully planned out everything, you can start with your sketching and drawing part. With many trials and errors, you can come up with a design which truly represents your business, having a simple pattern, suitable color combination and fonts and innovative, eye-catching design.