A nice article that outlines preparatory considerations for low-cost composting

Grow Better Veggies: Compost Mythbusters - Continued

"Our circle bins are about five feet in diameter.  We start with circles of wire about two and half feet high, and then as the pile builds, we'll add another level of wire to get the pile higher.  We'll stop after three levels, or about 6 feet.  We don't build the piles all in one day, but rather over a period of a month or two, then stop when the pile is high enough.  At that point, we'll insert our biodynamic preps, cover it, and let the decomposition process happen."

"After you've got your circle in place, the first layer in contact with the ground ideally should be some twiggy material, like corn stalks, dahlia stalks, or small branches.  This layer aids in air circulation, and helps airflow to the interior of the pile, which aids in the break down of the plant materials.  After this first layer, all you need to do is alternate your green and brown layers.  Kitchen waste, fresh manures, weeds, and green plant trimmings are all high in nitrogen and considered "green."  Most things that are dry, such as fallen leaves, straw, paper towels, and coffee grounds, are considered carbon, or "brown."  We make each layer quite thin, about two or three inches.  This layering is essential to cause the heat generation required for decomposition."

"After every few layers, we water the pile for a good 5 minutes, then leave it be until we have more fodder for the layering.  You can take a few months continuing to build your pile, but at some point, just cover it up and leave it alone. After that, start another one next to it while you're waiting for the first one to finish composting."