First, I think TNA needs to look at the roster and organize them. Who do they want in the main event, who do they want in the midcard, what X-Division people are the focal points, what are the tag teams that they want to build that division around, etc. Right now, people are floundering like all hell and there are a lot of wrestlers that don't even have solidified heel/face roles. One week, someone like Hernandez seems like an upper midcard face but he's also in a tag team and then the next week he seems like an afterthought and a heel that could split from his partner. I think a good idea for them to do is to get rid of the Knockout tag team championship as that seems like a waste of time, for example. After they figure out the people they need to focus on and how they want to focus on them, they need to move into phase 2...
Phase 2 = a second show. Not in the WWE sense of a separation with a draft and everything, but rather, they just need more on air time to develop these people. If they add another hour, they can use that for spreading their guys out a little better. People always go on and on about how TNA is the "wrestling" show (something I kind of disagree with but this isn't the thread for that discussion) so if that's the case, they can bookend their so-called "starpower" segments with the pure wrestling matches. That's one mistake that I think the WWE does...having someone like Cena show up on an episode of Raw upwards of 5 times in the 2 hour span. If he showed up twice, it could advance his longevity in the eyes of the fans as people wouldn't get as bored of seeing him so often. You still have the star segments for the ratings, but in between, you throw in something to try to show off the wrestling skills of these guys. In the TNA sense, you have less of the "big name is backstage and talks, then later on he cuts a promo, then he has a match, and we do the same for 3 or 4 other guys as well", and instead, you maybe just have a promo and a match for these guys, and that extra space goes to an X-Division match or whatever. Not every single wrestling match needs an angle behind it. Sometimes people can just go out there and entertain.
If TNA is going to survive and prosper, they need direction and organization, which is something that it seems like they're severely lacking. You don't sign a whole bunch of people and then look at your roster and realize that a good number of them are washed up and probably won't be here in a few months (Hall, Waltman, Nasty Boys), nor do you try to build up a guy that has the balls to consider you his backup option before simply leaving (Lashley). TNA is taking steps towards being a bigger company, but they're nowhere near at a level that they can simply rest and flatline in comfort.