First of all, do you actually have enough raw material to make it worthwhile? Personally, I tried it and ended up abandoning it - I just didn't have enough stuff to compost. You can take a big bin and fill it with grass clippings, and those clippings will cook down to practically nothing.
If you've got a ton of leaves in fall, that can be good to compost with. Although if the leaves aren't completely smothering your lawn, it's easier to just go over them with your mower to break them up, and let them mulch in place.
Ideally, your compost should come from a mix of 'greens' like fresh grass clippings, which supply nitrogen, and 'browns' like dried leaves, which supply carbon.
You'll need to keep it aerated so that it doesn't turn anaerobic. You can use a compost tumbler to do the job, or turn it with a pitchfork or something. Or you can use a composter that's built with air shafts to allow oxygen to freely penetrate into the compost pile. Look up how to build a 'bio-reactor composter' if you're interested in that idea.