With the spark plug out, find top or bottom dead center by placing a thin rod or stick into the bore and roatate to find TDC.
Then hold the wheel and mark it (mark top or bottom dead center). BDC is TDC after a half turn.
Hold the plug wire 1/8" from a head bolt, turn power on, rotate flywheel past TDC and and observe where it fires.
Try setting at TDC.