Unless you are some sort of genius (and even then...) it just takes a lot of time spending playing around with those knobs until you get a feel for what you can achieve using them appropriately. Mastering that (figuratively) and picking up a lot of tricks and skills by reading on forums and watching youtube tutorials and stuff, and putting that into practice can slowly make every track you make an improvement on the previous one.
I have personally not left that stage either, I find it hard to finish a track because I grow tired of literal mastering and finalizing every automation to make something perfect. I like it best at the start when an idea is fresh, new and dynamic.
Nonetheless I have a few tracks put it, almost all of them dumped on soundcloud prematurely.
My investments are pretty minimal, I have a midi keyboard and some good headphones and that's about it. The rest I just do with software.
Right now I am working on a piece with piano and cello, not electronic for a change. The bulk of it is there but the instruments together sound sloppy and I have to sync the harmony much better. I use Ableton Live.
There's this invite-only torrent source that I use and it has almost all the big names available in VST(i)'s. I will start paying for that stuff that costs a fortune when I start making money.
It really helps that I've been playing the piano since I was 5 though and I am practicing a LOT since the last year or so. I am pretty motivated to use that to make melody-driven IDM / electronica like my hero producers.