This lesson shows how to prepare a storage device by formatting it with a file system type such as ext4 or xfs. First, you choose the device to format. Then you run a command like 'mkfs.ext4' to create the file system structure. After formatting, you mount the device to a directory so the system can access it. Finally, you can list the contents of the mounted directory to see files or confirm it is empty. Formatting is necessary before mounting; otherwise, mounting will fail. This process helps organize data on disks for Linux systems.