Step 1 : Choose a host.
Done. I chose Mochahost. They provided me with a WordPress install, a free domain name (unklebear.com) and unlimited email addresses for £54 for the year.
The site speed is very fast and the domain was up and running within minutes. Alongside WordPress they also offer several other software options such as Joomla, Wikis and Phpbb plus many more. The included cPanel has all the options that you would expect such as database and file management and many more settings to play with.
My install was pain free by simply following their setup wizard. The hard part is learning the WordPress system.

Step 2 : Learn WordPress.
Ongoing. I admit that at the moment this site is ugly and bare bones but it is currently the best that I can do with only 15 minutes of tinkering. To be honest, I spent more time trying to find a domain name that had not been taken.
Hopefully a better looking site will be up in the future.