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Using your commander to fire your 430, and bumping your iso for power, you can do a lot with 1 light and 1 umbrella.
You need a light stand, an umbrella swivel, an umbrella and possibly a cold shoe.
The cold shoe is so your flash foot can be placed on the swivel. Some swivels come with them.
I use the bogen umbrella swivel, but one will cost as much as an entry level light stand and you need a cold shoe for them. The swivel from bogen is about $30, the cold shoe from smith victor was $6.
I have no experience with them, but dot line makes swivels that are like $20 and include a cold shoe.
The light stand depends on the area you're working in and whether or not you want air cushioned or not. A/c just means it doesn't slam when you unlatch it.
If you're working in doors you don't need to worry about the biggest and best stand out there. I was selling portraits from $30 interfit air cushioned 8' stands. A sand bag will help provide a little more stability.
For an umbrella you can buy a shoot through, or reflective, or a combo. Stay away from the bull$41+ gold for now. I suggest a shoot through, or a combo (reflective/shoot through). There's a lot of reasons for the difference and far too many to list here. Shoot through is nice because you can get it closer without stabbing your client.
A reflector can be a piece of foam core that's white, and then on the other side you can crinkle some foil, and spray adhesive them together. The adhesive will cost more than the foam core!! Reflector under $10.
Set up your umbrella in the swivel, and since you've for bounce/swivel on your flash, aim the sensor of the flash "close" to camera position, and then the head of te flash as close as you can to the umbrella center...mounted on a swivel, it's not going to hit dead center.
I use mine in manual, but I believe when using the 7d, you can use ettl.