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Step 1
Extend the blind to its full length and let it hang in front of the window ledge. This way, you can accurately take note of which of the slats lines up with with the ledge. With a pen or marker, make marks on the ladder strings. (Ladder strings are the strings on the outer edges of the slats that hold them in place.)
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Step 2
Lift up the bottom rail and turn it over so that you're looking at its underside. Using a flat-head screwdriver or putty knife, pop out each of the wooden plugs covering the pull cords. (The pull cords are the strings used to raise and lower the blinds, and they're usually knotted after they've been fed through a small hole in the bottom rail.) Untie these knots, and the bottom rail can easily be removed.
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Step 3
Cut the ladder strings to the desired length (as marked with the pen in Step 1). Make sure you cut below the spot where the bottom slat will sit, so the bottom ladder support string is left intact for it to rest on. Remove the extra slats you no longer need.
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Step 4
Replace the bottom rail by sliding it into position on the ladder strings and feeding the pull cords through the corresponding holes in the rail. Tie new knots in the pull cords to make sure the bottom rail stays securely in place.
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Step 5
Use scissors to snip off excess pull cord, leaving about an extra 5 or 6 inches or so, just in case you miscalculate and need to make future adjustments. Push the excess cord and ladder strings into the bottom rail, then secure them by re-inserting the wooden plugs you removed in Step 2.