Welcome to the fray
Dust collector damn dangerous in that configuration. Exit the hose straight outside
or you will have a fire. Your house will be filled with micro sized metal/G10/wood dust.
Congrats on the new one BTW! You need to keep your better half safe fom the contaminates.
Common mistake for newbs. You will quickly find the limits of those machines in a matter of months and wind up replacing them...
Ask me how I know this 
My suggestion from experience is use all the money from your first 10 blades you sell and upgrade the equipment.
Buy the best from the start: Hardcore or BurrKing grinder, Paragon or Evenheat HT oven, Jet or better drill press Etc All the other stuff will fall into place as you find you "Need It"
After using my KMG grinder for 6yrs it lacks the precision needed as My skillset improved so a BurrKing or better yet a Hardcore grinder is in the plans this year.
Save yourself (And all of us) grief by reading the stickies at the top before getting flamed for asking questions that have been answered hundreds of times before