I find this a worthy topic if only because a nice clean shave down there really enhances the sensation in my opinion, and ladies seem to appreciate the effort. So here are my main tips:
1) Get a woman's razor like a "Venus." I've never trusted electrics.
2) Start by trimming as much as you can using scissors. Use a comb as a guard to keep the blades from coming in contact with the flesh!
3) Shave in a hot shower. If you have a handheld sprayer even better. Get nice and warm to relax the skin and lather up with a moisturizing soap.
4) Holding your member with one hand, GLIDE the razor over your shaft and balls. Do NOT "scrape." You'll be surprised how much hair is removed with only the slighttest contact.
5) Rinse the razor every one or two strokes at first. Too much hair buildup reduces effectiveness and increasses the chances of nicks & cuts.
6) Take your time and be gentle. Once you're no longer seeing thick clumps of hair in the blades after a couple strokes, rinse, re-lather and target specific areas by holding the skin taught with one hand.
7) Don't try to get it perfect in one try. Shaving can be very irritating down there so don't fret if you need a couple days to get it just right.
8) When done, towel off and apply a moisturizing lotion with aloe, vitamin D and/or other soothing/healing agents. For the love of all things holy, do NOT use a "refreshing" after shave lotion. The mint or menthol will have you screaming from the burns.
9) If possible, let the boys hang free and air dry when done. Getting dressed too soon could encourage irritation.
Once again, take your time. Test the razor against your skin before going all in and be gentle. Better safe than sorry.