Equipment

Bike (fit is very important; disc brakes required)

Pedals, Flat or Clipless

Floor Pump for the home

Hand Pump for the trail

A few Tubes

Patch Kit

Lubricant for chain and pivots

Multitool -- small with allen wrenches (hex keys) and screwdrivers

Camelbak or similar hydration system (smaller packs are great for racing) or Water Bottles