I read somewhere that upon the first 60 seconds of walking into a home, a visitor will know what type of experience he or she will have. A spot on theory, and to me, one of the most important reasons of keeping a nicely decorated home. The foyer plays a crucial role in the welcoming of guests and you want them to feel as comfortable as can be while in your home.
The essentials I see necessary to be included in your foyer:
console table for:
lamp (for warmth)
large mirror above console (so people can check themselves out before they see everyone)
a little area rug
maybe a picture frame or two
a piece of decor that is a reflection of you such as a shell, elephant, etc...