Step 1: Open your Microsoft Word Application.
Step 2: Go to the "Styles" group and click at the Arrow as shown at the picture below.
Step 3: Go to the end of the "Styles" window and click the button "New Style" as shown at the picture below.
Step 4: Now at the new window named "Create New Style from Formatting" (that will be open after you click "New Style" button) you need to define all the fields.
First field named "Name:" you need to give the name of Style that you want.
Second field named "Style type:" you need to choose the type of the style.
Third field named "Style based on:" you need to choose on which style this your New Style want to based.
If you want to make all new style you can choose (no style) to make your new styles.
Fourth field named "Style for following paragraph:" you need to choose which style to follow paragraph.
If you want to make all new style you can choose style you just named at the first field .
At the formatting area you need to define Font Name, Font Size, Font Weight, Font Color, Alignment, Line Spacing and Indent.
After defining all of those fields click "OK" button and you will see your style at the "Styles" group as you show at the picture below.