The basic bleeding procedure goes like this:
Assure you have enough fluid in the reservoir.
Attach a clear plastic hose to the bleed valve nipple, and put the other end in a can with some clean brake fluid in it. This will assure that no air sneaks back in when you operate the bleed valve.
Open the bleed valve on the caliper about 1/4 to 1/2 turn. 1/4 worked well enough for me.
Press the pedal/lever about halfway, and observe what comes out of the tube. You should see some fluid, and maybe some air bubbles. Clean fluid will eventually get there, and air bubbles need to go (leads to a spongy feeling brake).
HOLD THE PEDAL/LEVER STEADY, and then close the bleed valve.
Release the pedal/lever.
Check the fluid in the reservoir again. Wait about 10 seconds or so.
Repeat until there are no more air bubbles coming out of the hose, then tighten the bleed valve.
Road test carefully, and repeat the process if needed. If not, you're good to go.
This may take a few tries before you get the hang of it. You might also look around for a Youtube video on how to do this.
Good luck, and reply if you need more help. I'm sure someone will chime in.
Luke M
Used to have a 1979 CB750L, sold it as a parts bike, now riding a slightly modified 1984 VT700C. Network/Field Engineer. Central OH, USA, Earth, Sol System, Milky Way Galaxy, Universe.