Contrary to popular belief, the ground reference maneuver turns around a point is not intended to be one in which a point on the ground is kept at the same point on the wing or strut of the airplane as the turn is completed. The maneuver is considered mastered when the student can fly a concentric circle around the point while staying within the altitude guidelines. This is done by varying the bank angle to account for any winds.
The steps are easy. (1) Pick a point, such as a barn or road intersection, with little to no clutter around it if possible. (2) Then enter downwind and (3) Fly a circle. Knowing the direction of the wind is crucial, as the steepest angle of bank will be downwind, followed by a slowly decreasing amount until the bank is as little as a few degrees on the upwind side. And remember that flying a concentric circle could mean the point is ahead or behind the window for a short period while you crab into the wind.
For best results, spend most of the time focused on the point or the horizon in front of the airplane, and not on the instruments inside. Turns around a point build on the skills learned in steep turns, and provide a great foundation for maneuvering flight—a major contributor to accidents if performed incorrectly.