Fences

Fencing will be your first
and single most expensive
start-up expense.

Do it right the first time, take your time putting it up, think it out (money and layout) before you start it, and take your time learning about how to build it before getting started.

Why am I sounding so dogmatic about this? Well, in the short time I've been raising sheep I've spent to much, bought the wrong thing/s, and my sheep were attacked by local dogs just after lambing; thank goodness my sheep were making a lot of noise and I happened along at exactly the right time - none of the sheep were seriously hurt but if I hadn't been there I'd have lost a couple.
 
Since that day I've tried a few different fence types on the inside paddocks/pastures but I shored up the surrounding fence to prevent a re-occurrence of the dog attack. And sure as rain, the next lambing season I saw the same dogs, they brought a few new buddies, but this time they couldn't get in.

As we would start any new job or project, the first stop for you should be the tool crib.