Hey LeBodge
If you want to try to duplicate the image exactly- that would be rather tedious! If you just want to experiment and try to learn how to achieve similar effects- that would be easier and more productive in my opinion.
Anyway, here's a stab at answering your question:
"When you see a picture you want to copy, how do you start?"
First, I would try to determine which effects were achieved with simple filters, styles, blending modes and opacity settings.
For example, the text effect here looks like a combination of an emboss style with an overlay mode and a reduced opacity setting.
There are other ways this could have been done, but just start with that and play around over any kind of background for the time being.
Next, you might take the golden rounded corner grid-like object. Now to me that looks like it was constructed with the round corner rectangle shape tool, then duplicated and moved slightly with a motion blur applied.
Pretty simple. Again, give it a try, play, experiment try putting your own spin on it...
The smaller light colored sqauares could be made a number of different ways. I would think the easiest would be to create a simple pattern using one square and some space around it(be sure to turn off the background layer when you make the pattern so it will be transparent around the square). Next, create a square selection on a new layer and fill it with the pattern. That will give you a solid "grid" of squares. Then it's simply a matter of using rectangle marque selections and deleting certain groups of squares to get the look you want.
I could go on and on here. The more I look the more I see how different effects masy have been achieved or at least how I might try to achieve them.
I believe that your approach is a very good way to learn Photoshop. But I also agree with what others have said that the best thing is to just play, experiment and doodle around. After a while you start to discover "tricks" and methods that you like and it just keeps growing from there.
I know it can be frustrating to see other designers amazing work and perhaps feel like you can't do it. Believe me, I feel that alot. Just remember that it takes a long time to get to know Photoshop and it takes a lifetime to fathom the sources of creativity. Just have fun and you've got what it takes.
Hope this was helpful in some way.
jamsa