This is an edit of a bunch of tips I sent a friend that was setting up a Web design and development company catering to small business. These are mostly tips from my experiences and they may not match up too well with yours. So keep that in mind. I used to do freelance and then corporate Web Design full time years ago. Now I do development.
Content:
Try to maintain a well-balanced amount of content. Not too wordy, not too short, and keep a good flow. Think about it in terms of finding a way to guide potential clients down a path.
Portfolio:
Focus on the best design examples to avoid diluting your presentation. You don't need to have all (or even many?) examples if there are several really strong ones. You might try to write up a case study on the development, design, client interaction, etc. of a few projects. And this part's rough - if the portfolio is shy of a real super star, create something new. Even if it's not a real company or online, you should at least have an example of your design skills and potential. It doesn't even need to be HTML since if portfolio is just images. You could conceivably create several interesting layouts with Lorem Ipsum text in Photoshop or Illustrator.
Widgets:
Be careful regarding trendy widgets like Coverflow simulators, if they are not performing well, it might not be worth it. The real Apple Coverflow is fairly smooth in comparison to JavaScript versions. Flash widgets can solve this problem but increase development and maintenance time.
Search Engine Optimization (SEO):
It might be worth it to explore value added services such as SEO, Google AdSense campaigns, etc. Make sure it is prominent enough and not added as an afterthought. There is also the possibility of partnering with an affiliate to have them provide those services. You can try to learn this stuff through various online eBooks but you should definitely get a basic understanding of SEO.
Blog:
This is only good if you keep it updated. If you are updating it regularly, then you might want to find a way to post some of the blog in a block on the home page to show Google the page changes. Otherwise, blog is just a buzzword.
Content Management Systems (CMS):
You should always look to setup a site using a CMS. There are many open source applications available such as WordPress, Drupal, Joomla, and many other weird names. This lets the client maintain their site with minimal involvement from you. It also sets up potential for repeat business if you inform previous clients of new features in the CMS updates. If there's a good business case for updating the CMS software, this could be rolled into a new design or general maintenance.
Search:
Make sure that, if you implement a site search, results are relevant. Otherwise just add a Google site search form.
Clients:
If you have some existing clients, can you get some testimonials, letters of recommendation, etc.? You might even want to provide some notes to help them write you something. For a small business focus, I would think the best thing to highlight would be personal service. Provide and explain how you provide great customer service. You want to help the businesses that are still new to the web get through the process as easily as possible. Also, you want to help communicate your client-centric service to business with Web experience, either good or bad.
Contact:
You might want to provide a dedicated phone number separate from your cell (an inexpensive VOIP like Vonage would do or maybe a Google Voice number), fax (go all digital with eFax which will email you your faxes), or PO box to show you are easily reached. It can be a little scary to be too accessible, so good work-life balance is required. And can backfire horribly.
Networking:
Getting new business is tough, so you have to spread your name around. Are you members of any associations? Are there any local organizations worth looking into or joining? You could also explore local user groups for software you support. Are there any conventions that you could benefit from attending? Are there any open source communities you could contribute to? Also, the Small Business Administration (SBA) can be a resource for guidance. They can connect you with experienced volunteers that can provide all sorts of useful info.
Education:
Can you link to or list classes where people can go locally to learn how to make the Web work for them? Encourage them to learn and then show them that putting a site together is easy but making an effective design benefits from a pro. If they are busy building their Web site, they could be spending that time growing their business without needing to learn all the things you already know.
Advertising:
I don't know how well this works, but it's something to think about. You could explore direct mail campaigns to some small businesses in strip malls, etc. Try talking to folks you know to find out where they would look for a Web Designer. Keep in mind that real advertising can be very expensive and benefits most from repeated campaigns.
Legal:
This one is a giant pain, but if you are going to be setting up a home office, it might be worth it to look into your city licensing requirements. There could be permits involved, taxes to pay, and neighbors to placate. It can be a hassle, but it can be good to make sure you are protected. Related to this, it might also be a good idea to setup a "Doing business as" name, business banking account, and even a corporation.
Have Fun:
Remember to try your best to enjoy what you're doing. While there are tons of notes here, doing freelance Web design can be as simple as you, a customer and a computer. So keep the good designs coming and keep your clients happy. Hopefully, this info will prove helpful. I'll try to add to it when I can. In the interim, remember to keep on keeping on!