At one extreme you can dive in head first. Spend a lot of money, get the wrong stuff. Maybe lose interest in it quickly.
The other extreme is to have analysis paralysis. Research it forever. And become a lurker or wallflower.
Some people buy tons of books and videos, courses and seminars, but never take action.
It’s like being an armchair quarterback.
How much research and preparation is the right amount?
Just enough to prevent you from making a big mistake.

It’s important to define what you want to do.
For example I will use my adventure in podcasting, the rollercoaster story, and the reality TV show experiment.
The key is to know when to actually start your project. It’s the most challenging thing and different for everyone so there is no one right answer.
But you must jump in. Get the minimum equipment and knowledge that will get the job done so you can start.
Don’t buy junk, you will have a bad experience because the stuff you got sucks. So buy quality, just not top of the line in the beginning.
Your project or business will evolve over time. It’s likely what you have in the end is totally different from where you started.
You may change the name a couple times, branding, etc.

The important thing is to follow the core of what you want to do. The funny thing is that can change too.
Lots of kids in college change their majors.
The Waterfall method is when you complete one step at a time in sequence. Steps are not repeated.
The Iterative approach is when you try something, then modify it and try again. This can happen many times.
Life is an experiment. Iterate over time. Evolve your project from whatever you started with (which is arbitrary) to where you end up.
Often times where you start doesn’t even matter, it’s where you end up and the path yo take that does matter.