This is a short video showing the proper method for lifting a dropped bike. There are several of these on the web, just look around if you need more.
The process is pretty straightforward and it does work if you do it correctly.
Turn the handlebars to full-lock position with front of tire pointed downward.
Find the "balance point" of the two tires and the engine, engine guard, or footpeg. The motorcycle will be fairly easy to lift until it reaches this point because it's resting on its side. Once you start lifting from there, you are responsible for the most of the weight of the bike.
"Sit" down with your butt/lower back against the motorcycle seat. Be very careful to keep your back straight and your head up. Put your feet solidly on the ground about 12 inches apart, with your knees bent slightly.
With one hand, grasp the handgrip (underhand, preferably), keeping your wrist straight.
With your other hand, grip the motorcycle framework (or any solid part of the motorcycle), being careful to avoid the hot exhaust pipe, turn signals, etc.
Lift with your legs by taking small steps backwards, pressing against the seat with your butt and keeping your back straight. On slippery or gravelly surfaces this technique probably won't work. On inclined surfaces this can be very dangerous.
Be careful not to lift the motorcycle up and then flip it onto its other side! If possible, put the sidestand down and the bike in gear.
Set the motorcycle on its sidestand and park it safely.