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Soleron said:
Emulate the biggest F2P financial success - League of Legends.

Not pay to win
Make the game easy to get into, hard to master
Continual pipeline of new content and renewal of older content
Respect the players and the game at all times
Make paying unlock more/different content or cosmetics, not be required to play at all.
Make all game content free at some point.


The only problem with the league of legends model is that the game balance is very dependent on counterpicking, and since you have to grind or pay to unlock champions, that makes it kind of like a pay to win.

 

Other than that though it is a good business model, besides when they raised the prices of some of their skins, that was weird.