Well firstly probably a couple of tips.
Don't invest too much in academies early on. It is just easier to pick up cheap players off the transfer market that don't need much training.
I wouldn't upgrade your ground until you've filled it out a fair few times (pretty obvious)
Set out all your players training so they can improve.
Try to buy a couple of good players early on so you have a chance at earning some decent prize money by the end of the season (I wouldn't worry about youth just yet). Then fire some of your dead wood.
On the transfer market, I'd be looking for players with the following skills.
Batting/Bowling: Reliable (Try to pick up a couple of Accomplished players as well
Tech: Reliable (Try not to get technique more than 1 level below primary but Reliable/Reliable players barely cost anything, provided they are over 19.
Endurance: Average/Reasonable (Mainly depends on age, I guess. Try to get average at least but endurance barely affects price between Average and Reliable so I wouldn't worry)
Fielding: This is where your opinions come into it. Some people like Chewie, like all their players to have Reliable fielding, while others like myself don't mind fielding provided it's average or above.
Power: Again, up to you. Normally ordinary power is good enough to start off with, but I'd be looking at average.
Experience: Doesn't matter much but does play a fairly big role so if you can manage to pick a player up with Reliable+ experience, then it is a big bonus.
And a note about power, spinners don't need power so there is no need to train it. On pace bowlers, batsman and all-rounders, power plays an important part.