What next?

So, I have written a novel. Is it any good? I don't know. I still like the premise and the basic arc of the story, but is it well executed.?

My plan for the firsr revision is as follows...

1. I will sit down and read it.
2. I will correct any obvious mistakes as I do so - any erroneous spellings, dodgy grammar or obviously clunky sentences.
3. I will take notes about plot inconsistencies or gaps in logic (remember, things changed in the course of writing this, including characters)
4. Take a break from it

Second revision...

I will then do all of the above, only this time I will add or remove passages to address point three. If necessary, I will rewrite entire scenes to aid the story

Third revision...

I will repeat the first revision process.

Fourth revision...

I will repeat the second revision process.

Fifth revision...

I will let someone else read and critique it. Now, here's a problem. As I said in a previous post, my best friend is a Doctor of Literature, and as such is ideally placed to provide an honest critique - but, the back story of my protagonist is loosely based on something that occured between me and my friends about eighteen months ago. To cut a long story short, there was a love triangle and it did a lot of damage. This back story might reopen old wounds, so I'm not sure what to do. Either way, an independent critic will be needed at that point.

Finally, I will go back over it sentence by sentence and examine the prose, asking if every single phrase could be better composed, if every last word is the perfect one.

How long will all that take? God knows.

However, I started reading it from page one this evening. I just couldn't resist it!