I just bought a new USB external hard drive device and I am trying to add it into my network to use as a central storage device for my desktop and laptop. Anyone able to offer directions/steps?

Since its a USB device, you will have to use it as a shared device and create a shared drive. Having connected the USB drive to your desktop or laptop Right click on the drive click properties click sharing share this folder provide a share name eg: filestorage use permissions tab to set permissions according to your user structure goto security setup security so that your users have the correct rights click apply and ok ensure to turn on file and printer sharing on the host machine turn on network discovery on client machine you should be able to reach the share from the clientbyusing \\hostname\sharename( \\desktop\filestorage) from the explorer hope this helps...