Keep your logo to two or three colors
A logo with few colors is recognized faster and is cheaper to reproduce on embroidery, stamps or signs. Use one main color and one secondary color, and save neutrals for the backgrounds and text around it.
Test your logo in one color
Before you decide, see how the logo looks in solid black, and in solid white on a dark background. If it stops making sense, the problem is the shape, not the color. A good logo also works on stamps, faxes or laser engraving.
Check out your competition
Look at the colors brands in your industry use in your city or country. If they all use blue, a different color helps you stand out; if a color is strongly tied to your industry, straying too far can confuse people.