Two things are equally true: You don't need to have fancy tools to build a good wheel. Good tools make building a good wheel faster and easier.
Back in my LBS days I built a few hundred wheelsets. After getting married and having kids, I didn't make or have time for riding. When they got older I started having time to get back into cycling. Before I bought a truing stand I had a set of wheels to build, so I improvised.
10 cent truing stand