I am no expert, but I am adventurous enough to try things that I haven’t done before. I have been taking things apart since I was a young child and I am now approaching my 70th birthday.
1. Lubricate the cutter, guide and the inside of the frame with light oil - WD40, 3in1 oil, knife honing oil, actual cutting oil, etc.
2. Get the guide on the end of the cutter as close to the inner diameter of the seat tube as possible. I was starting with a 27.0 not a 26.8. I use aluminum HVAC duct tape, but just about any kind of tape will do. Do not wrap the tape in a spiral, that will change the center. If more than one layer is required, cut the tape for each full layer. A tiny gap at the end of the tape is preferable to any small amount of over lap. Position gaps away from each other, preferably evenly 2 gaps @ 180 deg, 3 gaps @ 120 deg, etc. This may take do redoing a few times, but tape is cheap.
3. Determine the depth of cut required (seat post insertion depth plus a little extra for adjustability) and mark the tool with a piece of tape. The depth of cut will be from the bottom of the cutter (not the guide) to the bottom of the tape. When the bottom of the tape on the tool gets to the lowest point on the lug, you are done.
4. Remove the crank and bottom bracket.
5. Stuff some paper towels into the chainstays and downtube to prevent chips from getting into them.
6. If you have a shop vac, rig the hose to the bottom bracket to vacuum the chips while you are cutting.
7. Cut slowly, stop and check as you go to make sure that you are cutting straight. Keep the cutter clean. Clean and re- oil as necessary.
8. After you are through cutting, clean the inside of the seat tube thoroughly. Any stray chips will cause rust. Automotive brake cleaner and plumbing pipe brushes(kind of like long baby bottle brushes) work. Coat hanger and paper towels if that is what you have works also. Check that the bottom of the cut is smooth.
9. Recoat the inside of the tube - frame saver, Boeshield, etc.
10. Reassemble.
Hope that helps.
Laing Conley