If your home page is like many other web sites then it says very little about you or your company.
Some of the more common elements of a company home page are:  Products for sale
 News and Press Releases
 Events and Announcements
 Navigation
 Search

What's missing from many home pages is a clear and concise description of the company. This can be just a sentence or two, with links to more. If your customers can't figure out what you're trying to sell or do for them right away they might just leave immediately.
What you should aim for is a balance between providing the tools returning customers crave with the information that new customers need to make the decision to go with your company. This can be just a sentence or two, with links to more if they need or want it. Leaving this out may satisfy one department's need for one more sentence about their product, but risks alienating new customers before they've even gotten to that product.
So here are several points for a homepage content:
 A summary of what the purpose of the site is (this might be textual (preferably) or it might simply be obvious from the entire layout of the site)
 Products or services displayed prominently and clearly (this allows new customers to visualize what they will be getting)
 Clearly defined links to other pages with more information 
The above information should be "above the fold". This means, on a lower resolution browser, the information should be visible without the customer needing to scroll.