Are you wanting to adjust the standard suspension, as best as it can be (which to be honest, is prettty limited), or properly sort the bike out?
Standard suspension:
You'll want a mate to help with this, but for the front:
Put the bike on the centre stand, push back on the rear, and the front will come off the floor. Measure the distance between the fork seal and the bottom of the yoke.
Rear, bike on centre stand again, and measure from two fixed points at the rear of the bike (for example the corner of the grab handle and an edge of the swingarm adjuster, or similar).
Now, you need to get the bike on the floor as per normal, get leathered up, and sit on it in your normal riding position. Best is if you can sit on it completely normally and have a mate hold it up, but otherwise pop your foot on the floor and just try and balance the bike as centrally as possible, so your weight is on the bike instead of your foot.
Now, you want the front and rear suspension to be about 35mm lower when you sit on the bike, so adjust the preload until it sits at about that.
That is basically as much as you can do on the standard suspension!
On the other hand, if you want a proper handling bike, get a set of fork springs matched to your weight and matching oil, and buy a new shock (hagon, nitron, wp, maxton, ohlins, etc etc all make shocks for the fazer, in about that order of pricing too)