Once butter has melted, increase heat to just above medium heat.Swirl and scrape the sides of the pan frequently with a wooden spoon or heatproof spatula - the butter will bubble and pop. Once the bubbling/popping slows, the butter will begin to turn brown, it will look like this once it's finished:

Watch the butter very carefully at this point, and once it begins to brown and you smell the nutty aroma of browned butter, remove from heat quickly and pour into a large, heatproof bowl.