I think the most important thing is your creativity. You can have a bunch of crappy equipment, but as long as you're creative you can make it work. Robert Rodriguez's first film, El Mariachi, was shot on a borrowed 16mm camera he didn't know how to use and lit with two clamp-anywhere lamps. The film cost him $7,000 and landed him a multimillion dollar carreer with TriStar/Columbia. Be creative and the equipment you have will be more than enough.