One of the most powerful traffic generating features is a blog.

The more indexed pages (centered around useful content, and strategic keywords) in search engines the more traffic your website will generate.

Make sure to pass 50 indexed pages from blogging as quickly as possible. Don't stop at 50. Continue the effort. The rate at which you'll see traffic increase will be based on the frequency of your high quality blogging activities.

Source: HubSpots state of inbound marketing report 2014
-Peter Lang
http://uhurunetwork.com

Assumptions:
- You know and have intelligence about your target visitors and buyers personas
- At launch there will be low traffic volume
- Blog content will be your method of attracting visitors to your website
- Blog content will be targeted around low-mid competitive keywords
- Content offers will be provided in exchange for emails
- Visitor nurturing will be automated through your newsletter system
- Personal coaching services are system based rather than problem/solution based.

Based on the question and my assumptions, I would recommend offering your content for free. Give offers (more valuable content) in exchange for email addresses and provide more useful content, sell information products/coaching services via lead nurturing automated emails.

Assumptions: you're out of the idea phase and have selected one of the following:
- software business selling SaaS or mobile applications
- service based business
- a business that makes or sells physical products

The first step is to figure out who your customers are.

Most aspiring business owners don't listen to people having conversations about what they want or what they need. Uncover what is missing in their lives, and then figuring out if you can build/offer a product or service around it.