You definitely want to wax it. It will run much faster. I tend to wax my boards every 4th time out. What you need is an iron. They make small ones for snowboards but an old standard one will work. You will also need wax. Your best bet is all temp wax that way you cant go wrong. Then you need a scraper which is a plastic piece you can get at any ski/snowboard shop.
Somewhere in here is a thread that really states the whole proceedure but it isnt rocket science. The real trick is to constantly be moving the hot iron over the board so you dont burn the base. Again check the info thread in the forum.