Summarize the following:
Look at other bands logos for inspiration. This will (hopefully) give you an idea of what you want. Don't copy a logo and try to pass it off as your design. Consider bands that play a similar style of music. If you play in a heavy metal band, don’t look at country bands for inspiration. You might find common themes that you could translate into a logo of your own. For example, many hard rock bands uses icons like a sword, skull, snake, and heart. Knowing commercial logos will help you design a logo for your band. Look at popular brands like Apple, IBM, CBS, and other similar companies for research. You can take design traits from corporate logos and apply them to your design. Be careful not to borrow too much from a corporate logo and risk infringing on a trademark. You’ll be surprised by the amount of feedback you can receive from asking around.  People in your music scene and community have opinions and knowledge of what works. Tell them the name of your band and describe the sound of your band. Make a post on your Facebook page, asking for advice and thoughts for a band logo.  Explain the sound of the music and ask if any images or ideas come up. You never know what people might think of.  You could even try to get advice from local designers. Some bands simply use their name in an interesting font as their logo. Other bands abbreviate their name, and some just use an image for their logo.  Examples of bands that use their name as the logo are Metallica, AC/DC, and Anthrax. Examples of bands that use an image without any words are The Rolling Stones, Weezer, and The Grateful Dead. A good band logo can be a great marketing tool for bands who haven't yet reached a larger audience. Design a logo that appeals to your potential fan base and the logo could help you reach those fans.

Summary:
Consider similar band’s logos. Research commercially successful logos. Ask your community. Decide what design elements would fit your band. Consider your band’s current status.