Hey, David. I totally agree with Airfrog. He's good and knows what he's talking about. I'm a big, fancy, commercial studio photographer and I still like to shoot with one light. Shooting with one light in a studio is exactly the same as shooting in bright sunlight. The only difference is you can't control the sun the way you control a studio light. Sure, you can put a diffusion panel between it and your subject, but really you're just a slave to the awesome, gargantuan power of the sun! Mua-hahaha!
So, uh...a good place to start is ISO100, 1:60 shutter and put the flash on half power. Then adjust your camera's f-stop until the picture looks nice. Also, you can control how hot your background is by physically moving the light away from it. This will make your subject darker, too, so move it with the light. Need to compress the background more because it's too small to go back too far? Then you move back further from the subject and zoom in until the background fills the screen.
You know how this works: you've done it before. Except now you have total control over the light and it feels a little perplexing: I know. Just do it and have fun with it. Pretty soon you'll know things about single light studio photography that even I don't know about. 
For more info, be sure to check out strobist.com
. Even if you're not shooting with speedlights, the actual practice of shooting with a single light is covered pretty well. Also, check out onelightworkshop.com
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