/ic/ - Artwork/Critique

What should I look for first when trying to mimic/learn from a rendering/coloring style?
I've stuck to pure drawing and sketching but now wanted to try a bit of color, but I'm not quite sure how to break down the style I aim to learn.
I tried analyzing the color pallets to see how the value changes from light to dark and so on for starters, but I'm completely lost when it comes to a workflow process.
Pic related is one of my goals, would deeply appreciate any tips or general direction anyone can point me to.