Setting up your laboratory involves choices about equipment, hiring personnel, budgeting, establishing grant support and mentoring trainees.
Practical advice about this process is available in "Making the right moves: A practical guide to scientific management for postdocs and new faculty"
published jointly by the Burroughs Wellcome Fund and the Howard Hughes Medical Institute. The book may be downloaded for
free from www.hhmi.org/labmanagement.
Also, you may want to review this exercise on budgetary considerations.