How to delete VPN or Dail-up connection in Windows 7

It took me a while to find out how to delete a VPN connection I've setup on Windows 7.

So here's how:
1. Click on the connection icon in the icon tray (right-bottom side of the screen)
2. Click on "Open Network and Sharing Center" (you can open it also from the Control Panel)
3. On the left side of the window, click on "Change adapter settings"
4. Delete the VPN/Dail-up