As much time as you want to put into it. You can research past tournments on that lake or just guess. My wife did it last year with us for the first time and see doesn't know much abut fishing and finished 1st place! I know I never heard the end of that. By the middle of the tournment season she was all into it. Trash talking!
You pick 5 anglers before each tournment you think will finish the highest. 9 Tournements Total