Once you have removed all the solid matter (bones, meat, crud) and defatted it, crank it up to a rolling boil and let 'er rip.
Reduce it to a level that tastes rich enough to be a benefit to any dishes you make with it. If you like, You can then reduce it further to concentrate it so you will save space in the fridge/freezer the reconstitute it to the proper strength when you need it.
"If you want to make an apple pie from scratch, you must first create the universe." -Carl Sagan