At Complete Loss …

Just installed this theme on my existing website and I’ve spent the last 4 hours getting absolutely no where. I don’t even know where to begin. There is so much I don’t understand. But let’s start here …

On my home page I am getting the message:

“You need to choose your home page in your WordPress Dashboard > Settings > Reading.”

For the life of me, I have not been able to get rid of this message. What is this message telling me and how can I get rid of it????

Frustrated. And this is only the beginning!
http://www.driventorace.com