Reread the novel. Take note of areas that move too quickly or too slowly. Determine what is slowing down or speeding up the pace. Take note of such things as whether there are too many scenes and not enough narrative or whether the exposition in the beginning is too long.
Write a synopsis of the novel. This will help in determining what should or shouldn't be cut. For instance, if the exposition is too long, a synopsis will provide a clearer way to determine how to make certain cuts to speed up the novel. If the pacing feels rushed, a synopsis will help in knowing where to add scenes to balance the pacing.
Determine which areas in the novel need to be slowed down and which need to be made faster. If the exposition moves too slowly, cut out passages that are unnecessary and irrelevant to the story. If scenes end too quickly, add scenes or narrative passages that will slow the pacing. For instance, adding a few brief scenes or a line or two of dialogue can make slow passages move more swiftly, while slowing down scenes that move too quickly can be done by adding narrative passages, such as the character's interior dialogue or sensory descriptions, such as sights, sounds, smells and so on.
Print out the synopsis, then mark on the pages where scenes need to be cut or added. Again, this will make the rewriting process run more smoothly. If a narrative passage needs to be cut, cross out or underline that passage and make a note on the sidelines. This can be referred to during the rewriting process so that you will remember exactly what you want cut and why. Make notes where scenes are added, as well.