Your home page is the most important page on your website, as it is the first page most of your visitors will see first, but this is usually a page with the most error for beginners(With the exception of Forums).
You want your home page to look nice and display the main point of your website. Depending on the type of website, you'll want a different basic set-up for your home page. Let's say you have a review website, you would want to start with one of these two options:
A blog-home page, which would display your reviews on your homepage or an informational-home page or "About" page, which would hold information about your website.
Maybe you have your own games? You might want to have a news/blog home page for new games or updates. All websites are different, so you'll have to decide what kind of home page you want for your website, just try to stay away from the "Everything" page with all of your news, games, sign-ups, etc., etc. As this is unprofessional and scares away your visitors!
Copyright Spiral13 © 2011