Fully extend the blinds to their maximum length. See which slat sits at the bottom of the window, and leave at least two more slats following it so you can eliminate any kind of gap that will emit light. Remember that the bottom rail also sits on the window ledge. With a well-fitting blind, there is always a slat or two that sits flat on the bottom rail, and the bottom rail sits flat on the window ledge. Make a mark on the ladders (these are the strings that hold the slats in place) or last slat with a pen to the length you need to shorten the blind.
Remove the cord plugs located on the underside of the bottom rail. You may need a flat head screwdriver. The pull cords are typically tied in a simple knot. Once you undo them, remove the bottom rail.
Cut the ladders to the desired length with scissors. Don't cut past the mark you made on the ladders, or go above the last slat you marked for reference. Leave enough string so that the bottom rail will still fit.
Replace the bottom rail. Tie a knot in the pull cord, tuck in the ladder strings, and replace the cord plugs.