I've actually been working on a boom-bust cycle strategy. I love training - I especially love training homegrown players. I've tanked a couple of season to get the first overall pick. Right now, all 3 of my trainees were drafted by me. Once I finish up a trainee, I will probably shoot to get a top 4 pick and try and find another top homegrown trainee. I think I'm at the point where I want to get back to div III and stay there.
Also, another fun thing is trying to fix these holes on homegrown trainees. It's always interesting to see what kind of player the lottery-draft gives you.
Good luck with your training!