And/or read the FAQ's articles at Vinyl Asylum. It's a less organized presentation, but there's a wider and possibly deeper knowledge base.
Tools:
Turntable
Tonearm
Cartridge
Phono cable (if not included with tonearm)
Phono Stage
Bubble level
Cartridge screws (nuts/bolts/washers for unthreaded cartridges)
Tiny screwdriver (for mounting screws)
Small hemostat/needle nose (for cartridge clips, be CAREFUL)
Wooden toothpick (for spreading/compressing cartridge clips)
VTF scale, preferably a decent digital one
Alignment protractor (many choices, often tonearm-dependent)
Strong, moveable/pointable light source
Magnifying glass or loupe
The ability to see small objects
Some familiar LP's (but not your mint condition copies)
A calm, patient and methodical state of mind
No caffeine
No kids/pets/significant others distracting you
Optional:
Test record (I don't bother, but they can help a newbie make sure he's covered all the bases)
Probably some stuff I forgot
