The 1/4" rod is your compression release. Pull that prior to turning the key to crank position. This holds open your valves allowing the engine to turn over freely. Hold it in that position while allowing the engine to turn over for a few seconds or until your oil light goes off. No more than 10 seconds per manual. When oil light goes off, push lever in and bang, she ought to be going. Saves wear and tear on starter and easier on bearings. The thermal start is activated by turning your key counter clockwise and holding, my manual says until light goes off, my light doesn't go off, so I hold it 10 seconds or so. Truth is, here in East Texas There are few times I even need this feature. You should see a little bottle reservoir located to the left of the rocker arm cover. A small hose goes from it down to a small electric heater/valve located on your intake manifold. That is your thermal start. I think the lever on the fender you reference is your pto speeds. #1 would be your standard 540rpm.