Define who you are as a band. Devise a group mission statement. Knowing who you are and where you want to go will help provide the necessary creative firepower for designing your band's logo.
Write down some ideas that reflect who you are. Attempt to create some free-form designs, shapes and colors. This will help you easily mesh your vision with formats found online. Take some time to review established logos from successful musical artists. Some examples are The Who and The Rolling Stones, who were among the very first bands to have great logos.
Determine an appropriate font for your band. One website for finding cool band fonts is Dafont.com. At sites such as this, you are able to type in your band name and view how it appears in many different fonts.
Create digital graphics for your logo and new font with software such as Adobe Illustrator. Determine if the band has the know-how to create graphics with this type of application. If not, consider hiring a graphic designer.
Visit websites such as Logosmartz.com and Instalogo.com. They offer all-inclusive services. For a fee, you can choose fonts, colors and ultimately own your logo design. This will eliminate any possible copyright infringement issues. It's slightly more expensive for this service than combining Steps 3 and 4 above, but this comprehensive online logo creation method can save your band time, allowing you to put more creative effort into song writing and performing.