Custom Layout Page

I am trying to add a custom layout page. Design > Layouts > Add layout page. I do not know what to put in the dispatch area, where I have (example). How do I call the page to view it. I want to be able to add this page to Designs > Menu to show up on my home page. When I set this up in the menu, no matter what I put in the URL field, I am getting a 404 error.

Please find come details here

Thank you for your assistance and quick reply. I had reviewed that page and found it confusing. I am confused about the [mode_name]. I don't know what to use there. That is why I reached out. I was trying to specifically learn how to use the "custom" dispatch option. I have decided to use the "" option, and found that to work.

For which page do you want to create new layout?