My unanimous vote goes to having a comfortable chair. It not easy sitting 4+ continuous hours in a crappy chair.

Luis O. Maymí
Follow me on Twitter @lomaymi
My unanimous vote goes to having a comfortable chair. It not easy sitting 4+ continuous hours in a crappy chair.

I would say in this order:
1. Chair
2. A computer that can handle editing video without isses.
3. A Program that does what its suppose to
4. A mini fridge packed with your favorite beverage.
The eyes are important, but it's what behind them that's critical. If you don't have a vision of what you want in your mind's eye, you're screwed.
On the technology side of things, an NLE that you are comfortable and proficient with is the most important - I like Sony Vegas Pro - You can take bad footage and make it better, take bad audio and improve it, all with a very old computer (Pentium 4 @ 2.6GHz, 3GB RAM, XP Pro SP 3, sub 1080 monitor, etc...) which shows that as long as the software runs, you can get by with good enough.
My chair is currently a very good one, but I have used CostCo $20 folding varieties with equal success. More importantly, IMHO, is a good working environment - quiet, well lit, convenient bathroom & kitchen facilities, ability to meet with current and prospective clients.
The two things on the technology side I will bow to are a) a really great library of royalty free assets - stock photos & video, music, sound effects, animated wipes & backgrounds, lower thirds, etc... Probably the best bang for the buck you can add to make your work better/easier; and b) a good selection of software tools (audio cleanup, titling, authoring, format conversion & compression, etc...) which can in general make your life a whole lot easier.
Just MHO on all this - I am not a lawyer nor do I play one on TV - Your mileage may vary.
1. an NLE he is comfy with
2. all the proper tools and apps to accent that
3. clients
4. people skills
5. technical and artistic savvy
cannot disagree with what has already posted... would add one more item... a treadmill.
nothing like getting off your assets during render times and taking care of your ticker...
All of these are good things for an editor to have. I'll add; patience (lots of it for your gear, your project, your clients and yourself) and something nearby that's breakable you won't miss!
"and something nearby that's breakable you won't miss!"
you clearly have not tried "CyberClean"

simply squeeze on, peel off to clean your electronics... then put back into plastic tub, insert two fingers and press down.... blame horrific sounding flatulence rumbles on nearby kids or dog!
also use as peel and stick heat dissipator for video d-slr...
I value solitude highly, while editing. It is very annoying to have your track of thought interrupted.
Hi,
Most important before to work is to settle reasonable objectives. Before dashing into projects is better to realize only one, make it completely and that it is paying. Many guys thinks of making a name by touching everything, be selective, know what is you done.
Regards,
YR
Bruce came close: The most important equipment for video editors are their eyes, ears, hands and fingers ;-)