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I had given my first attempt at the GMAT in March this year, getting a dismal 660 (Q:50, V:29) after only preparing for about one month. Despite getting a modest score, I felt good about my chances going into the test center. i believe the main drawback in my preparation was the fact that I had given only one timed mock exam before the final day resulting in extremely poor time management on D day.
Regardless, I took this experience with a pinch of salt and began preparation again, giving myself a time of another two months to prepare before I would once again take the plunge. I did not use any source for the preparation except the Official guide and the GMAT club, which is why I am forever in debt to this wonderful forum. The vast question bank and the invaluable discussions that follow each question are honestly all that one needs to prepare for the GMAT. I started my preparation with solving questions (didn't time myself initially, but started doing so once I believed I had made noticeable improvements in my skill set) and continued the same process throughout my preparation - learning from the discussions after ever question.
I must admit I was one of those people who would solve questions and learn from the discussions without providing much input of their own. This strategy helped me get practice by solving a large number of questions in a relatively short time. I cannot stress enough the fact that GMAT club is the best source for preparation and anyone beginning his preparation needs not seek any alternative sources.
I gave my second attempt at the GMAT on the 27th of May having worked on my time management and Verbal skills. I managed to score a 740 (Q:49, V:41). There is still a long way to go before I get an admission into any one of my dream universities (or not), but it has been a good start. I would once again like to thank this forum and shall look to continue utilizing the invaluable tools available for the other aspects of my applications as well.