Second, I would spend any disposable cash I had on making sure that old and new smartphones can easily run WebOS. While it would keep WebOS to a geekier set of users, over time the installation process could evolve into something easily accomplished without too much trouble.
The last item I would consider is making sure that WebOS retains what made it unique in the first place. In my hypothetical scenario, I would have no interest in trying to duplicate what Android and iOS have already done.
Instead, I'd seek to capitalize on their weaknesses. Concepts such as Android's ability for customization and iOS's walled garden approach would be on the table as options. Surely, there must be a balance between the two platforms.
strong>WebOS on new devices is a mistake
Despite all the suggestions, observations and warnings I've provided above, the odds are that WebOS will be adopted by some hairbrained company and slapped into phones as if it was Android. The fact is, there won't be any real draw to a new WebOS phone, due to the lack of applications and general interest. No amount of "feel good" community effort is likely to change this.
The single most critical piece to WebOS remaining relevant in the years to come is going to be its ability to keep its users engaged. By itself, this is unlikely. This means that the community must find a way to get it onto existing devices easily and allow for cross-platform applications. WebOS is half way there with its support for HTML5 applications. Let's hope that the ability to install WebOS easily follows this path of least resistance as well.
As for Android and how it could affect WebOS adoption, I honestly don't believe the Android community sees any real competition from it. After all, Android has already made a very strong place for itself. On its best day, WebOS doesn't have any chance of removing Android from its throne.