There are two wires coming out. I assume that when I spin the rotor by hand I am producing a current and can attach a load (a very small one) to this circuit. Any ideas on how to beef it up. I was thinking hook it up with gears to a bicycle, that when I can save on my electricity bill and get a workout too.
if it is not a universal type motor, (has magnets in it) it won't work as a generator.
You assume wrongly. DC motors and permanently magnetized AC motors would work that way. A typical AC motor won't because it can not build up the magnetic field needed to produce an induction current because there is no current running through it. It's a chicken and egg problem. AC generators which produce their own field have a very specific winding scheme which is different from an AC motor.
350 Watts is about half a horsepower. Most humans are not as strong as half a horse so could not do much with a 350 W generator. Most motors cannot be used as generators. Because of inefficiencies I have found by practical experiment that I was able to get 0.7 volts from a 6volt motor, which is about 1% of the energy it uses as a motor. I have used a small hand generator to light a 60 watt bulb in the classroom and most students could not keep it up for long. If you could get hold of one of these generators you could put it on an exercise bike and you could achieve about 1 English penny or 2 US cents worth of electric for a 90 minute work out.
If its a universal motor (brushes and commutator), it should work. It will generate a dc voltage and very little power though (humans don't generate much). A quick test is to connect the wires together and see if its harder to spin. The load of trying to generator power into the short circuit will make it harder.