Step 1: Truss Rod Adjustment
Truss rod adjustments always scare me. Fortunately, I didn't need to do a truss rod adjustment when I set up my bass, because the action was pretty much spot on. I also don't have a set of feeler gauges (or a capo for that matter), but I understand you can pick them up at an automotive supply place.
Step 2: Bridge Action Height Adjustment
I didn't have to do much in the way of bridge height adjustment. Even though I was switching from lighter (E-standard) strings to the heavier (B-standard) strings, the bottom of the string is still the bottom of the string. A few minor tweaks and everything was golden on the bridge end.
Step 3: Nut Action Height Adjustment
Nut height was pretty good, but I had to widen the slots to accommodate the larger strings. I don't have nut slotting files, and they are expensive. But I did have access to machinist's files at work, and I'm pretty good with hand tools, so I used those. I worked outwards to widen the slot without actually cutting down and making the slot deeper. The shape probably isn't slotting-file-perfect, but it ended up pretty darn close.
Step 4: Intonation Adjustment
This was the most tedious part of the whole setup. The ESP LTD B-304 has a 34" scale neck, and I think I now understand why people recommend a 35" scale neck for B-tuned basses. I almost ran out of adjustment when setting the intonation for the low B. Fortunately the key word there is "almost." In the end, I got the intonation dialed in with a couple turns to spare.