In technical papers I often see text like this.
Finally, the goal is to determine x. The three ways of achieving this are the following: The blue method involves tying your shoelaces. The pink method requires you to first go to the shops and buy a bunch of bananas. The purple method is really quite complicated and will take a long time to describe.
What is the proper way to write this? In particular, should the colon simply be a full stop, should the sentences read more like "The pink method, which requires[...]" and should the final sentence start differently?
I should perhaps have added that this needs to all be in one paragraph. There is not enough space to set it out as a numbered list.