There are certainly complicated methods to do it, and they are discussed in length on the internet. The easiest way, is to make a weak wort (1C DME in 1Qt water), cool, aerate well, and pitch some ( a few Tbs) of the yeast from the trub into it. (standard sanitation processes apply) After it’s consumed the sugars there, pour off most of the liquid, leaving the new yeast cake, and feed again with more weak wort. This will end up being a starter for your next batch. The brewing board I frequent recommends that you don’t do this more than 4 or 5 times in a row.
You can preserve the yeast, and get into washing and slanting if you want to get advanced, but I’ve never bothered. It will get you past the 4/5 uses idea though. New yeast is about $7 on a batch of beer, and I often pitch on the last batch’s cake, so I get 2 batches of beer out of some yeasts. Most of the time, my “next batch” isn’t compatable with the “last batch’s” yeast profie anyway, so I tend to use new yeast every time. The $7 won’t break my budget.
August West, what is the benefit to spending extra effort to get below the .1ml/355ml O2 insertion level? Is it to just slam every possible moment of shelf life into the package? How much difference does it make in terms of time/effects?