Although you should always aim to have your business known for its reputation, you will always have the chance to attract new customers through both branding and location. You could have the best product on the market, but unless you can create that first connection to your target audience, you will likely never get the chance to sell it to them. Therefore you should take the time to develop an image and branding.
It can be tempting to create your company logo and general branding through doodling on the back of an envelope and hoping that will be good enough. Unless you have a natural talent for brand design you are unlikely to create an eye-catching brand in this way. As it is your idea you are probably the person that is best placed to create a logo that represents your company. Spend some time thinking about colour schemes, shapes, whether you want direct links to your product and so on. Come up with a number of options and then get other people’s opinions on your ideas as often what you feel works best isn’t necessarily the one that is preferred by the majority.
A big part of your branding will be the name of your company. This may, or may not, be part of your logo, but it should be something that reflects the nature of your company. You do not have to decide on the name of your company alone, there is plenty of advice available on how to go about choosing the right company name.
As with your branding, the best place to locate your company will depend on what you are selling. Some companies are best located in a high street shop, others in a mobile format, such as plumbers, while others still are best suited to being located completely online.