Format and update or update and then format - Android M Nexus 7 2013?

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Format and update or update and then format - Android M Nexus 7 2013

Yesterday Android M rolled out to my Nexus 7 2013. I've been thinking of factory reseting my phone for a while now. Right now I'm not sure if I want to factory reset it, and then update or update and then factory reset while I'm updated to Android M. I do not want to miss out on this update or ruin my chance if something messes up when reseting first cause I'm not really interested in flashing my tablet as I'm not experienced and I'm worried screwing it up.

What should I do?