The first step in making a serial dilution is to take a known volume (usually 1ml) of stock and place it into a known volume of distilled water (usually 9ml). This produces 10ml of the dilute solution. This dilute solution has 1ml of extract /10ml, producing a 10-fold dilution. (i.e. the amount of stock in each ml of the diluted solution is 0.1ml.)
This process can be repeated to make successive dilutions.