Recently I've been thinking a lot about how I can increase the production value of my photos and films. I've come to the conclusion that I need to learn how to set up a small studio and how to use light more efficiently. I need to learn the key aspects/principles of these two things.

So, starting at a very basic level, how do I go about setting up a studio? What kinds of different materials do I need? What kind of lights do I need? Which of these are easy and/or cheaper to make myself, with easily accessible materials, than to buy/use professional equipment?

I'd like to be able to set up the most important/essential stuff myself, preferrably without having to buy a lot of expensive new equipment. So what are the most important things to know? What are some resources you can recommend for further reading? Basically: where do I begin?