Ideally from experience and some idealistic thinking:
- Bike held in a workstand with wheels (and anything else easily detachable) removed.
- Bucket of warm water; either pure or with a bit of car shampoo in it
- Lather bike all over using an assortment of soft-bristled brushes; being careful not to load up components
- Leave for a bit of possible (as long as it's not in the sun causing stuff to dry on) then rinse off with clean water
- Dry with an old towel / chamois; if you have the luxury use compressed air to clear out all the nooks and crannies
- Wax with a good carnauba-based car wax; applying with a cloth / fingers / a toothbrush in the hard-to-reach bits, take off with a clean cloth
- Repeat process with wheels; ensuring that you don't wax the braking surfaces

- Reassemble then go out and get it dirty again
A few other thoughts:
A good set of long, soft-bristled brushes is invaluable as they'll help you get into more areas and reduce the risk of scratching associated with using cloths. I have a Muc-off set which are OK; probably wouldn't buy again though as they're expensive and I don't like the company's business model much. Mostly they all look the same regardless of brand, and what you pay £30+ for as a branded cycle accessory you'd probably get for a tenner when sold as a "general use" item.
Grease can be a problem in some areas and drivetrains can be a nightmare to clean - I find water-based degreaser is good for this; although rarely have this issue as I now wax my drivetrain so it basically never needs cleaning.
Distilled water is good for cleaning stuff as it won't leave water marks (this is especially important if you're cleaning in the summer when it's warm / there's actual sunlight). This can be rainwater or harvested from a dehumidifier / condenser tumble drier if you have one.
Waxing can be a pain but IMO is worth it - protecting the paint and making cleaning far easier in future. I've noticed the front fork on my Fuji is pretty self-cleaning after being waxed; as the mud adheres to poorly that rain / splashes wash the bulk of it off.