Set the bed toward the front and left side of an appropriate workbench. The work bench should be positioned so that any observers, and the user, aren't in line with the spinning chuck when the lathe is running. Turn the bed on its side.
Install the threaded rods into the headstock and place the headstock in the bed so it seats into the hole there. Attach any hardware. Then upright the lathe.
Insert the alignment pin and install the tool rest assembly and tail stock assembly. Secure everything with hardware. Mount the lathe to the workbench by screwing or bolting it down.
Install the centers by sliding them into the bores. Remove the spur center from the spindle so that you can use it with the work piece. Use the center removal rod to do this by inserting it into the spindle and tapping the center. Remove the bearing center from the tail stock ram by turning the hand wheel counterclockwise. Plug the lathe into a suitable grounded outlet.