You have probably seen professional headshot photographers using powerful (and expensive) studio lights, and while there are certainly benefits to those, that does not mean you can't use things like speedlights to create compelling images. In this excellent video tutorial, well-known photographer Peter Hurley will show you how you can light a headshot even using only speedlights.
Coming to you from our good friend, Peter Hurley, with B&H Photo Video, this great video tutorial will show you how to light a headshot using smaller lights. Though they are less powerful, in a studio, you often don't need top-level power. You will notice here that Hurley is using the Westcott Rapid Box system, which is a great system if you are working with speedlights. I have had mine for a few years, and it is fantastic for whenever I need a portable and efficient setup. If you are new to headshots, you can certainly learn and even produce compelling work using just speedlights before you invest in a more powerful system. Check out the video above for the full rundown from Hurley.
If you would like to learn more from Peter Hurley about lighting for portraits, be sure to check out "Illuminating The Face: Lighting for Headshots and Portraits With Peter Hurley!"