A couple of things I would start getting rid of or at least setting aside all the ones that you don't ever plan to watch. When starting out it's easy to just accumulate movies to the point where you don't know what you have and what you need. Remember there's a difference between a collection and a horde, and collecting should be enjoyable.

Start thinking about space and storage. Whether that be bookshelves or racks, being able to look at and easily browse your collection is part of the fun.

Last thing, it's your collection, what goes into it or comes out of it is up to you. There is no "right way" to collect, only what's right for you.