Make sure you perform the following steps:

Create a database; make sure you are using a database supported by LSPS as well as your application server.
If applicable, initialize the database with the db-migration tool from the runtime suite (refer to database migration).

Important: If you are using MySQL with multibyte encoding, such as, UTF-8, set the global innodb_file_format=Barracuda;set global innodb_large_prefix=on;ROW_FORMAT DYNAMIC

Otherwise, the initialization of the LSPS database will fail with the exception:
SEVERE: Migration of schema `lsps` to version <DB_VERSION> failed! Please restore backups > and roll back database and code!
This occurs because MySQL uses the InnoDB engine by default, which restricts column length. Since LSPS makes use of wider columns, you need to substitute this engine with the Barracuda engine.