Start with a blank slate. Don’t try to “re-imagine” what you already have in place. Starting from scratch opens up so many more opportunities and possibilities.

Next, answer a set of simple questions:

1. Who do I want to visit my site?
2. What do I want people to think when they land on my homepage?
3. What is the ultimate goal for a new visitor? What ideal action do I want them to take? 

The answers to these questions will guide your design. But focus on simple, straightforward answers before you start to build.

Define your audience as narrowly as you can, because you want to meet the expectations of this audience. If your audience is older, then the latest and greatest design trends might not be appropriate. If your audience is predominantly female, that might change the colors and fonts your choose.

Then start to put a homepage together. Keep the homepage simple and clean. If you can fit it all above the fold, even better.

Decide on one priority course of action and lead people directly down that path. Use clear calls to action, big buttons, and make any desired action only a few clicks away.

Eliminate anything that detracts from the goal or desired action. Eliminate anything that might confuse or get in the way of your visitors taking action.

When you have a design ready, put it in front of an audience of customers and get their feedback. Then start again.

That’s what I would do!