You know what helps me when I have designer's block? Grab a post-it pad and start doodling. If you are going the icon-design route, start there. It will be easier to match typography with imagery once you have narrowed it down and finalized your icon. So just focus on the icon for now. You have the right idea with the last one: the S and the North symbol. But try some other ideas or combination of ideas too.
Anyway I like to try to cram 4 or 5 really small sketches of different ideas and directions you could go on one post-it. I might end up with 10 or 20 little sketches. They don't have to be perfect at that point. The goal is to get your ideas on
paper so that you can narrow them down later and pick 2 or 3 to take to the next level.
I like to work small with my sketches because it forces you to simplify the design and when an idea is picked and finalized if it works well as a small thumbnail drawing it works even better when it's larger. Another advantage to doing this is that it forces you to work with one color. Then when you get to the point where you use the design on all the many different applications you plan on using it with, you have a one color version, which is always nice. AND like other's have pointed out, a design that works well as a one color design tends to work well when color is added. The longer I've been at this the less I need to hand sketch a design and I have gotten better at doing the preliminary work on the
computer, which saves time, but every once in a while when I hit a brick wall it helps to go back to the basics. Take your time though. Don't rush this.