Essentials

Things you'll need to be a Speed Solving Geek:

1) A good Rubik's cube (A standard Rubik's cube would work fine for now, please avoid cheap imitations at least when you're a beginner)

2) Good Lubricant

3) Timer

Expanding on the above:

1) A good Rubik's cube:

What makes a Rubik's Cube good?

• Durability, including quality of plastic since you'll be toying around with it a lot.
• Flexibility to cut corners. (This means turning any side of the cube, when it isn't completely aligned, to rest of the cube. Ignore for now, if not understood)
• Interlocking Tension, such that the pieces don't fall off as you solve.
• Friction level, this can be taken care of using appropriate lubrication.
• Lastly, the Price, you wouldn't want to buy a cube that's way too overpriced, now would you?

I will be basing my future reviews of any cubes on the above 5 criteria "DFIFP" or Divesh Finds It Fit Points.

2) Good Lubricant:

                                                    

Here's what makes a good lubricant:

• Reduces friction level between pieces of the cube, without overly damaging the cube.
• Lasts long, now we're talking about cubes guys! 

3) Timer:

You can either buy a Stackmat somewhere online, which is used in official competitions, or download or use a software version. Initially, it's better to download a timer rather than buying a stackmat. Plus the software versions come out with Algorithms to help you scramble the cube before solving.