To setup soundcloud on the homepage, you have several options but here's 2 easy options: 

1) Embedding the player into a text area widget

Go to follow this FAQ to embed the player.

Once the iframe code is copied into your clipboard, go to wp-admin > appearance > widget.
Drag/drop the TEXT widget into your homepage one or two column zone.
Paste the iframe code into the box. Here's a screenshot:

2) Use a soundcloud player plugin/widget:

Install a plugin such as SoundCloud is Gold (see screenshot: )
Activate the widget then go to Appearance > Widgets and drag/drop the widget in your homepage one or two column zone.