First step is to create a New Page. Go to
Pages > Add new and create a New page. Give it a name e.g. “Blog” or “Blog Entries”. Hit the Publish button on the top right.
Next step is to assign this page as the page that displays the posts. Go to
Settings > Reading and from the first set of radio buttons, check the “A Static page” and from the Posts Page dropdown select the page you have created, like at the screenshot below. Click Save and you are good to go.