Look at the poem before you even read the first word. See how it fits on the page. Notice any impressions you get from the poem's physical presentation.
Read the title. Notice any ambiguity in the title. Think about your expectations having read only the title.
Read the author's name. If you've read any other poetry by this author, allow your mind to form some preconceptions about the poem in front of you.
Read the poem aloud and slowly. Pause at punctuation marks but not at the end of lines. Determine if the structure of the poem is causing you to read a certain way and if this reading style has implications for the overall sense of the poem.
Read the poem again, this time noticing the situation of the poem. Ask yourself how the poem makes you feel about what it's presenting to you. Feel free to write all of your impressions in the margin or on paper.
Look up any unfamiliar words in the dictionary. Pay particular attention to words with more than one possible interpretation. Determine if there is anything deliberate in the overall choice of words in the poem.
Look again at the structure of the poem, both in its totality and on the small scale. Focus on any groupings of words and on the line breaks.
Now compare form with function. Looking at your notes, investigate any relationship between what the poem says and how it says it. Determine whether structure and language work with or against each other.
Read the poem aloud one more time, keeping in mind all that you have thought about. Read with confidence. Try to get a big picture perspective on the poem.