The most valuable advice I can give you about running a tournament is to think hard about how you think a tournament should be run and do it like that.
I don't know where you're at or how much tournament experience you've had, but it's worth the time, trouble, and money to play in as many tourneys as you possibly can.
Finally, it is not possible to make everyone happy. Do the best you can and don't sweat the whiners. Sometimes it seems there are people who's idea of fun is to complain.
I've been running a local tournament for three years now. I started because there wasn't one, so I just put up a few signs and went for it. It started out small, but it's grown and has been a lot of fun. If you have any specific questions, post them up!