Congrats, Virjim, you are about to discover the wonders of sewing with wool!  First of all, compare the drape of your fabric to the drape required for your pattern and if it's too soft, fuse a sample to light interfacing and test that.  Need interfacing?  VERY IMPORTANT!  Fusing will shrink both your wool and your interfacing, so they must be preshrunk separately.  Here I will defer to my betters--go look up the subject in the magazine index or the archives (if you can, with the accursed new format).  I dip my interfacing in steaming hot water for a couple of minutes, then hang to dry.  I gently fold my wool together with a quite damp sheet and leave to dry overnight (London shrinking), or you can send it to the cleaners to be steamed.  This may sound like a lot of work--until you skip it, start to fuse, and find everything shrinking this way and that!  Wool will repay all the care you put into it, with interest.  Let us see a picture of your finished project!