There are different methods of breeding, if you want very predictable results then it's best to keep each individual male with a small group of females (2-4). You can also keep a community of Fish where there are males, females and babies all in one group, it's harder to predict results but it's certainly less labour intensive and you don't need as many tanks.
The difficult bit with breeding Guppies is trying to limit the number of tanks, many serious breeders end up with literally dozens if not hundreds of tanks.
I would try to establish a set aim before you start so you don't end up with trying to do everything and end up achieving nothing. I would recommend this strain, it enables you to cross strains without getting into complicated genetics and you can always find easily available and genetically different Fish to out-cross with without having to go 'back to the drawing board'.
HB AOC - Guppy Wiki