Note that it is even possible here to create additional instant attributes with the top-right button named Create New Attribute. If you do so, the attribute maintenance form will pop up, giving you the possibility to create additional fields on the fly. However, although this is possible, we do not really recommend it. You should think about your attributes and attribute sets thoroughly before starting to add products.
Note that we've now filled all mandatory fields. This means you may now save the product. Do that, to prevent any loss of data. It has already happened a lot to me that when I was creating items in Magento, the phone rang; I had to do something else and was logged out of the system after a while. Don't let that happen and regularly save your work!
Use the Save and Continue button to save and stay on the same page. If you click on the Save button, your work will be stored as well, but you'll leave the current page and return to the product overview page. Of course, you can always come back to your product and add any missing data.
The next tab we'll need to look at is the Inventory tab. Do you need to keep track of stock levels in Magento? And if yes, how? What will happen if an item is no longer in stock; can we still sell it and take a backorder or should we prevent the user from buying such an article? Having a clear inventory status of your products is not only important for you, but your visitors will appreciate it as well if it is completely clear for them whether an item is available on stock or not.