What you'll want to do is place your bike on a stand, rear wheel off the ground, and measure from the rear axle to a fixed place, probably like where the rear fender meets the subframe or thereabouts. This is your starting point (topped out). Take the bike off the stand and take the same measurements, this will be your free sag or static sag. With all of your gear on (for weight purposes) and the help of a friend, sit on the bike ( I always stand on the pegs) and take the measurement again. The difference between the topped out or starting point and the race sag will be your measurement. Adjust it by turning the collar on the spring of your shock.
btw, setting the sag is the 1st thing you should do to the bike as it affects every aspect of handling. If you change anything in regards to chain adjustment or raising / lowering the forks in the triple clamps, you'll need to check the sag again.