Hi Greg,
Here is a method which has worked well for me in the past on common chips that are roughly round in shape or have rounded edges. Larger areas demand a different technique, and this method works poorly on longitudinal scratches and gouges...
1) Clean the chipped area using a cotton swab and a drop or so of 99% isopropyl alcohol to remove any grease or oil at the surface. Avoid the common "rubbing alcohols", as they are 70% alky and 30% water and sometimes, glycerine. Work the wet alcohol into the edges of the chip, as that is where most contaminates tend to remain. Allow to dry thoroughly, checking to make sure no cotton fibers have been left behind from the swab.
2) Take the bottle of touchup paint and shake it well to ensure it is thoroughly mixed. Reach for a clean paper tissue and have it at-hand. Both bottle and frame should be stable at room temperature. If you bring the bike directly in from the cold to do this, moisture condensing at the metal surface will prevent a good paint bond.
3) Turn/rotate the bike so the chipped area is upright (think: the chip is like a dish I will fill).
4) Getting the tip of the brush wet with a drop a bit larger than the chip, touch it to the affected area; the pool of paint will develop a lens shape higher than the surrounding surface.
5) Quickly recap the bottle, and reach for the paper tissue. Touch a corner of the tissue to the edge of the paint "lens", siphoning-off the excess so it sits just above level with the surrounding surface. Lift the tissue as you go, so it doesn't pull wet paint out of the chip onto the surrounding finish. The paint will shrink about 5% as it dries, so try to leave about that much "over" what would be level with the existing finish; it isn't much. You'll have to work fast, particularly if the touch-up paint has been used before, as the remaining carriers will evaporate very quickly.
6) Allow to dry in a clean environment, free of dust and breezes, and at room temp. Resist the temptation to touch or poke at the repair with your fingers or rotate the bike to its normal position before the paint has dried.
This works really well for opaque colors, and should give a near-invisible, protective and durable result. Good luck!
Best,
Dan.