An admin looks at the blogs that are pending at the moment. He/she chooses ones that deserve the featured page. All you have to do is write a good blog and it may get featured.
Just pretend your writing an essay and if you get anything less than an A+, you'll fail whatever grade your in.
But if you're writing a story, forget it. No mater how good your writing skills are, this isn't the site for those.
And it must be pretty long, most blogmins don't accept blogs that are only one paragraph long.
Also, you should expect harsh comments. Some people are like that.
A little extra, try to make the topic interesting. Even if it gets featured, not many people will read it if the subject is weak. Try to make the title interesting. For example, if it's a blog about pandas, don't just call it "Pandas".
Hope this helps...
make sure it is feature-worthy first, then, before posting it, check the box near the top that says submit as news. A blogmin may just choose to feature it.