Initiate this maneuver by heading slightly off the wind (on a soft beam reach) to gather as much speed as possible. Then oversheet the sail (this means moving the sail back so the clew is closer to the tail and the gap between the board tail and the clew is smaller; do this while sheeting in with the clew hand). Keep sheeting in with the clew hand and keep the front arm extended but across your chest and looking forward into the wind. This will cause the board to carve upwind. Be aggresive! However, remember to think safety first and make sure there are no sailors upwind when you are trying this maneuver, especially sailors who are charging full speed into a jibe. In other words, take precautions to avoid collisions.
The board will slow down and begin to stall. As the board stalls then bring the rig foward toward the wind. By forward I mean move the mast (the leading edge of your rig) into the wind. This is accomplished by lifting up with the clew hand and extending the front arm forward (the bow and arrow position). At this point the nose of the board is into the eye of the wind.
While keeping your body over the centerline of the board, keep extending the front arm and leaning foward. Perform this in a controlled and steady manner so you are balanced and do not fall into the water. The back side of the sail will eventually be presented to the wind. When first learning this maeuver the body position will feel really awkward because you are way over the front of the board. This may be a new feeling for you in relation to your sail and board.
The nose of the board will start to swing around to the new tack. This is because the sail is forward and the force of the wind (the center of effort) on the sail (albeit from the backside) is in front of the mast base. Keep the front arm extended as the board swings and look into the direction of the maneuver. At this point, the hand on the clew will be your main control mechanism whereby pushing the clew away from your body or pulling the clew toward your body (more like collapsing since you are backwinded) will control the power and direction of power in the sail. This is where you learn the finesse in the maneuver.
As the board continues to swing, your body weight will slowly move back from the nose so you can maintain balance with the changing forces on the sail. You can now push the clew through the eye of the wind and pull a little with the front arm so the mast becomes more vertical.
The sail will power up with your back to the wind and rotate through the remainder of the maneuver.