You should remember you have to eat occasionally too. Wait for the timer to run out, find a good spot to lay eggs, lay them, and wait. Now, what you want to do is find another fish of your species and hold Q, until you get max eggs. Look out for predators, especially crabs. DON'T try to kill things, because the starter fish is weak.
Now, you should run around and eat food until you grow up. Feed & Grow a Fish The first thing to do is pretty simple, and you're told to do it: Spam space until you hatch.