I'll be brief as always (I'm 38 and posting my tactic as I am nice - but time spent waffling on is time lost playing FM).
This is my tactic - been using it since a few days after buying the game in November after finding out what worked and what didn't etc...
Had great success with Liverpool and decided to take on the challenge of lower league management. Much to my surprise it works a treat right down to non league level and right the way up through the divisions. I managed to take Chester up to the premier league within 8 seasons (including a famous 3-2 win over Man City in my 7th season) so that should tell you everything you need to know about this tactic.
It's rather decent.
I'll leave it at that!
Anyway please feel free to give it a go and provide any feedback.
Hope it brings you as much success as it has me.