Two more cents...
Russ,There should be three lines fed aft through the boom - the topping lift (holds the boom up when sails are down), the outhaul (tightens/stretches foot of sail to power down as winds increase), and the "jiffy reefing" line. The latter should be fed through the reefing grommet in the clew of the sail and attached back onto the boom. My 240 has a padeye for this at the end of the boom on the starboard side. Your boat may have a cleat instead. (The reefing line should be fed through the grommet and tied off always - otherwise you have to rig it up with the sail halfway down in the dreaded 20 knot wind.)Now, when you're ready to reef, heave to, wrap the main halyard twice around the winch and take it forward with you. I slide up under the boom on my butt - don't want to stand up there with the boat pitching all over the place.There is (should be) a sailcloth hook sewn into your mainsail - mine is on the port side of the sale. I use one hand to gently pull down the sail to that point while slacking off on the halyard with the other hand. Wrap that cloth hook around the metal rams-head hook on top of the gooseneck - where the boom meets the mast - and tighten back up on the halyard.Now grab the jiffy reefing line that (should be) hanging out of the boom and tighten that sucker down.You now want to slide back to the cockpit, tighten and tie down the halyard, roll up the excess sail and tie it off with a piece of string and off you go.That is how I do it singlehanded. I'd practice in light winds - it's real easy and if you've got crew to man the halyard it's a cakewalk.You'll find control of the boat vastly improved when reefed in hight winds - the 240 will also claw it's way to windward a darn sight better than a whole host of supposedly more "seaworthy" boats. Good luck and have fun.Drew