The myth of unlimited revisions. Sorry, but if if sounds too good to be true, it usually is
Here are some of the myths people commonly associate with logo design:
Myth #1: Logo development is a graphic design task. This is a big misconception among businessmen and designers alike. A logo is not a mash-up of a clever graphic and a fancy type. It is a well-balanced mix of concept, space, form, color, consistency, and clarity. The logo design process should not start at the Photoshop page. It should begin at the discussion table where the concept is to be finalized. Design should be used only to give shape to this concept.
Myth #2: Logo design is branding. Wikipedia describes brand as "the identity of a specific product, service, or business. A brand can take many forms, including a name, sign, symbol, color combination or slogan." As this statement emphasizes, a logo is only a part of a branding exercise. So, while developing a logo, keep in mind that you are fixing only one cog of the whole branding wheel!
Myth #3: Any type fits. Many designers ignore the importance of typography in a logo. Most of the time, the typography is just to complement the design element or just to announce the brand name. Developing a new font or even choosing the right one for the logo is an art. Choose the type that fits the personality of the brand. Experiment by working around the type to bring an interesting twist to it. Remember, many big global brands has only typography as the logo unit.
Myth #4: 'Beautiful' logos are the best logos. Many a times, the only briefing a logo designer get from the client is to 'create a beautiful looking logo'. Though it's fact that every logo should look good, they need not necessarily look 'beautiful' by having all the bells and whistles. Look at any of the top brands of the world, they don't have fancy logos. Almost all of them have a simple logo that communicates the brand ethos in the right way.
Myth #5: All logos design follow the same process. What do all great company or product logos have in common? Apart from the clarity and creativity, they have a distinct feel of either the industry or business category. For a designer, this would mean that he/she has to take a different approach while developing logos for each category. A corporate logo cannot have the same typography used for a movie title. Nor can a non-profit logo look like a rock-concert logo. Though there is no fixed rule for developing a logo, it would be easy for the target customer to identify with the logo if it has a distinct flavor.