We don't use the spigot. We keep enough dried leaves and junk mail in the mix that we don't get too much liquid.
First layer is a barely moist piece of newsprint, then we fill it with vegetable scraps, junk mail (nothing glossy), yard waste, egg shells, etc. ( no meat/protein)
I mix some dirt and some of the worm castings from a previous batch into this mix.
Add worms - we started our worm farm with a pound of red wigglers. Sometimes our worms do great and reproduce and sometimes they go to the big worm farm in the sky. This year we had to get new worms.
Small batches of household waste take about a month to turn into this!
It's worm poop.
AKA, a bucket of the best fertilizer ever for our garden.
Please let me know if you have any questions about the system we've been using!