I just stole this video from Fstoppers, where Chris Knight shows one way to developer RAW files in Lightroom 5 and to get as much as possible of dynamic range, and that's one of the reason you should always shoot in RAW, as this format keeps alll the information the sensor of your camera can catch, information that would be lost if you shoot in JPEG.
Bear in mind that this is one method, not THE method.

(via Fstoppers)