If you are new to the bike, and it to you:
It could be your shifting technique. These old bikes shift hard. Make sure you are being firm and positive with the shift. I have a 75 550k. Failure to shift fully into second (or third) will make it pop into nuetral when load is applied. I did it a lot until I sorted out the clutch and my shifting technique. Now it only happens when I get lazy and fail to shift/clutch properly.
Before you do anything, remove the tappet covers and make sure oil is getting up there. Ruining a valve train sucks. If you have any doubt, don't run it until you make sure oil is getting up there!
Read the FAQs! There is an ungodly amount of info and even some wisdom there. Run a search on anything you want to fix. You will find info on the best way to do it, and some ideas on the best stock/aftermarket parts to use.
Get the manual, go over the adjusting procedure for the clutch. Very few are well adjusted from the PO ( previous owner, also the other meaning)
Try this:
Don't clutch, just roll off the throttle and press up on the shifter. If it goes into 2nd smoothly you are probably fine. If not, try varying the timing and firmness of the up shift. Theoretically, you don't need the clutch if you never stop, it will shift up and down so long as you get the timing right. No, I am not saying it is a good idea, just that a good transmission "can" do it.
Shifting while oil is cold can suck, btw.
Second, oil impacts shifting and clutching. Changing the oil and using a good oil like delvac 1300 or Rotella in a 15-40. Make sure it does not have friction modifiers or it will f'up your clutch.
Mine shifted much better with Delvac, so try a few brands/weights. Oil change interval is only 1500, so it does not take long. (if the bike was not well maintained, you might be changing it more often at first. Mine went 500 miles before it got black as night. Took 2 changes to ungunk the engine)
Walmart sells both for ~$15 for a gallon.
Third, get an old timer to try the clutch for you. Again, this is not like a modern bike and what feels wrong to you might actually normal for the bike. Part of the charm, like an oil slicked leg from a BSA. Helps if you can find someone who sold/repaired/rode them in the 70's.
Set it on the center stand for oil checks and don't overfill!