thats a good way to learn but theres no waiting in between as soon as you let off get right back on it
i have an 01 GSXR 600 and i can do it at around 5rpm if i pull back on it

another good way is to get it around 5 and tap the clutch
or stand up and and get it around 5 then goose it (let off the gas then get back on it) and bounce the bike at the same time
but just be carefull no matter how you do it its touchy in first gear

good luck and be safe