Yep, that's about it. You don't want to cut too much off the grips, tho -- just enough to open up the end so that the grips can be slid over. A very handy trick if you have access to compressed air is to stick an air nozzle under the end of the grip and blast it with some air; the air will get under the grip and kinda 'float' it over and it will still be tight and solid on the bar when you're done.