Blót means “sacrifice, worship”.
Open the blot by placing a thick candle or a torch candle (if you’re outdoors) at the four cardinal points, east, south, west and north. If you’re outdoors, you can also have a bonfire in the middle of the circle. If you’re indoors, you could have a thick candle or three in the middle.
Start in the east. Light the candle and say: “Hail and welcome to the spirits of the east.” Repeat at the other cardinal points, moving clockwise.
Drink to whatever gods or spirits you’d like to include. Say for example: “Hail [deity]!”, and take a sip of the drink. If you blot with others, send the drinking horn or goblet or what have you around the circle, moving clockwise.
Close the blot by putting out the fire in the middle. Then start in the east and put out the candle/torch and say: “Hail and farewell to the spirits of the east.” Repeat at the other cardinal points, moving clockwise.