Logo design is very much important for a business. The logo represents company's commercial brand or economic entity. To differentiate your company from others your company logo should be unique with shape, color, fonts & images.
In order to maintain an ideal logo one should remember these facts:-
Don't use a cheap logo design as these logos are designed in an unprofessional manner and it will hamper company's goodwill.
Don't go for a logo design contest. Everyone use logo design contests as a way of getting an affordable, short term logo. Logo design contests are where you give a brief and then you have multiple designers come back to you with their designs. These designers will provide services at cheap and unbelievable prices and come back with a result within 24 hours whereas a professional logo designer will take weeks or months to complete a logo. Although at initial stage it sounds good but it lacks of quality and in long term it could considerably damage your business reputation.
Don't use stock imagery as your logo. Always try to get the copyright image or create image yourself. Stock imagery is being downloaded by several people and they can steal your logo which is made with stock image and use for their business. This will potentially bring down your business.
There are so many online logo makers who provide their service freely. Avoid these free logo makers as the logos they provide are unprofessional, several people will have the same logo like you, these logos contain no thought, concept & exorability.
A important part of logo design is that you are getting response from your prospective clients. It means that your logo design is going to be successful. So always keep track records of your client's feedback.