In a small saucepan over medium-low heat, melt butter. Butter will begin to crackle and pop as it melts. That’s the water melting out of the butter. Once the water has evaporated the butter will quiet down and begin to brown. Keep an eye on it, it browns quickly. The butter will begin to smell nutty. Remove from heat and immediately transfer browned butter (brown bits and all) to a small bowl.