Buy The Best Equipment You Can

There is a wide range of audio recording equipment available. Some of it is very cheap and sounds like it. You don't have to spend the rent money to set up a quality home studio though. There is no need to buy the most expensive components when you're starting out, but it is important to keep upgrading everything.

Areas that can be addressed from the start : The quality of XLR cables. Do not grab those $5 cables from the bin, spend the extra money on Mogami or other quality cables. Next get a good preamp like MPA II or other units. The next piece is a power conditioner such as Furman.
These are simple pieces that will make a big difference in the quality of audio you're recording. You have a very wide range of microphones that you can choose from depending on individual taste and budget. Remember to play withy the equipment constantly so you learn the intimate details of how your set up responds. it's never just about editing out flubs, become a master of your set up:)

Hang in There and Work On Your Skills

I always get a lot of questions about success; What's the best way to network? Whats the best way to get an agents? How to make more money and get more jobs?  There are many correct answers to these important questions. I would like to point out what, in my opinion,  is one of the most important factors in achieving "success". Improve your voiceover skills.
I know a lot of people who do good work and at the same time complain  that they'd like to achieve "more". Very often the limiting factor is they don't work on improving their skills as a VO artist. They do the same thing year after year and get the same results year after year. It's important to be on a lifelong quest to improve ones speaking skills and voice development which includes breathing skills. The are thousands of really talented voiceover artists. You are competing in an olympic size market and have to prepare with the same in intensity as those athletes do, If you want to make A-List money, you have to have A-List skills:)

One Secret To "Making It" Ok, More Than One:)

All these years I've looked at the successes and failures of people I've known and that includes myself. Sheesh, there are so many issues that contribute to any outcome. Having said that, there is one main thing that seems to be the most important.

The factor that I see determining outcome more than anything is follow through. Following up on opportunities seems to have more to do with success than almost anything, including talent. I'm not talking about obnoxious pestering of people. I am talking about following up on opportunities in a responsible timely manner. I have met legions of people who drop the ball on things that present themselves that are there for the taking if they would engage in a timely manner. But time after time I see people not following through. This is the reason for the most disappointing failures in my own life as well. The successes I've had have rarely, if ever,  been because I was the most talented person in the world.  The successes I've experienced have been because I was alert to opportunities or potentialities and followed through to monetize that moment, that intersection of possibility.

The companion to following through is appropriate manner of interaction. We must be unforced and natural in our communications with people. Our efforts to follow through must not be a display of our own insecurities or distorted egos. We have to be the kind of people we want to work for. We have to be the kind of person who seeks opportunity and then thanks the universe by making use of it when it appears.

How Success Actually Shows Up:)

The reoccurring question is: How to Become Successful? Insert slogans here I suppose.
Obviously there are many things people have said and written to guide everyone. All I'd like to add are my personal observations over the last few decades about the nature and process of success.
My experience is that success doesn't show up as one huge opportunity as much as it's created by putting one foot in front of the other come hell or high water and simply being persistent and unrelenting in pursuit of ones goals. This approach must include developing ones skills as a life long habit. There is always something that could be better and the fun is in solving the puzzles that will bring improvement. So my approach is to stay focused, keep laughing and have a great time in the journey to the destination of choice:)

It's All Getting More Competitive; So Now What?

Well with all the mergers crushing smaller companies, it's more important than ever to find independent clients rather than relying on big casting sites or voiceover talent agencies. If you have an agent and that works for you, that's great!
We all need to be aware however that market forces are pushing rates down in general and the big mergers add to the pressure. There are many clients who do not use VO talent agencies or online casting web sites. Those are the majority of my corporate clients and it provides a certain amount of insulation from everything that's going on. look for areas where you can form a personal relationship with people who need voiceovers/narrations and take great care of them at a reasonable price.