Before starting out on your first project, read your manual. Go through page by page and practice by embroidering a letter on a scrap piece of fabric. Get in the right mindset too, don't have high expectations that you are going to crank out a dozen appliqued t-shirts with 5 different fabrics in time for Christmas pictures. More realistically is a dishtowel, towels, or a bag with an initial on it (Family Dollar has cute cinch sacks for $3). When I bought my machine, I had grand illusions of a mini-sweat shop, creating appliqued t-shirts and outfits, custom pieces, and making a killing on Etsy. All this while working a full time job and being a wife/mom. Oh yeah, and I had never sewn before. I was so disappointed when I couldn't sew an initial on a zip pouch without my machine getting a tangled knot of thread under the fabric. The problem was my bobbin case was cracked and I was good to go when I replaced that.
Whatever software you get, read the manual. Join the Facebook group for the software program. Start out slow.
Here is a good project once you get the hang of your machine: Stay-Put or Topsy Towels. Janay of Stitched by Janay did a set, here is her blog about it, the link to the tutorial and buttonhole is in the post: http://tinyurl.com/lo76vmn
Expect the unexpected! You will get birds nests under your fabric, your needle will come loose and fly off, your needle will break, your machine will eat your fabric. It's ok, it happens to all of us! Be prepared to deal with these setbacks and how to fix them.
Youtube is your friend! There are so many videos about using your machine. Google is your friend too.
To recap, go slow and practice on scrap fabric before you monogram on your good fabric. Don't set really high expectations at first. You will get better as you get more skilled. Know how to change a bobbin, rethread your needle, change the needle, and clean out under your needle plate, where the bobbin is.
Embroidery is a fun hobby but be patient, stay with it, and you will love it!
Thanks for reading!