From my own newbie experiences, stiffness is miles more important than power, miles.
There aint much you can do with a wee c1 but a decent sized billet of steel on the cross slide cut as a toolpost to replace that pansy original could improve matters.
A sharp tool is better for a small lathe IMO, because you have less stiffness, and a small cutting point needs less stiffness/power.
Your cross slide and saddle need to be nice and snug.
A bit of rake for the tip usually helps.
Practice on easy metals to start with, like aluminum.
Just start cutting, and keep at it. You pick stuff up as you go along.
Use the muscle between the ears all the time, listen to the cut, watch the cut, learn from the cut. Use a roughing out job to experiment with different tooltip grinds.
It all comes together eventually.
It’s a trade which takes years to learn and is truly fascinating.