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Exceptions apply to Governments Organizations, 5 star hotels or exclusive clubs. This is because a good logo for them would more often be classical in nature to give an image of stability and exclusivity.
Colors are not as important in a good logo design as you might think. If your logo does not look good in black and white, it won't look good in any color.
Choose only colors that represent your company well. Yellow or sky blue gives a youthful and energetic look. Navy or lavender gives a calm, professional feel. Red, orange means strong and intense while green and magenta commands respect.
In
end, think ahead and avoid being too 'modern'. A trendy look might work now, but 5 years later it might look dated. A good logo design should last a minimum of 15 years, as it might be costly to 'update' your logo a few years later.
Choose your logo design wisely, and remember a cheap logo design service is not necessarily better. As
saying goes, 'You get what you pay for'.

Alif Wahab is the director of a multidisciplinary design firm, Uniqon Design Services. The firm specializes in Income-Generating Design Solutions for Businesses. Visit http://www.uniqonlogodesign.com for more info.