As I ran last a pub at closing time lastnight I heard a woman say to her bloke- say something funny to that runner- he panicked, said errm funny?.... And his comment which arrived as I was about 30m past was - oi mate- run faster... Hilarious!
There's nothing you are "supposed" to do when running other than put one foot in front of the other.
If you're starting out, the only thing in the way of kit you actually need beside shoes and clothing is a basic stopwatch. Upgrade to something fancier later if you want to.
As for speedwork - don't. Until you've got a decent running base behind you, you could easily get injured I wouldn't think about it until you've been at it at least a year.
In the meantime, think about what your goals are: just getting round in a race? Shorter distances? Longer ones? Being able to run for a certain amount of time without stopping? Once you've decided you can choose a plan on the training tab and take it from there.
PS: hoping the staring at the watch question is a tongue in cheek one - that would be silly right?
PPS: fancy kit and fancy tech won't actually make you a better runner.