My first draft is done. What's next?

I have built the first draft of my manuscript. It's 67k words and 22 chapters in total. This is my first time writing long form fiction. I took some time off after finishing it and now I am doing a basic grammar and continuity check to clean up the draft. Then I plan on sharing it with a few close friends who read/write a lot to get their thoughts on the story. Based on the feedback I plan on doing further edits or clean up before I start pitching it to publications. Wondering if that's the right approach or if there's something else I should be doing or considering.

What's your approach and is there something that I should be doing that I haven't considered yet?