The document outlines 5 steps for effectively editing a paragraph: 1. Walk away from the paragraph to gain perspective before editing. 2. Imagine you are the intended audience reading it for the first time and evaluate if it makes sense, holds interest, and includes all needed information. 3. "Slim down the fat" by shortening sentences, simplifying words, and adding white space for readability. 4. Check for errors in spelling, grammar, formatting, and passive voice. 5. Print the paragraph and read it aloud to catch additional errors and needed changes before finalizing.