First of all, congratulations! Finishing an entire novel is something to be proud of.
I have developed a process through several books. This is what I do:
1. I put away the MS for at least two weeks (usually 3-4 weeks). It is tempting, but I don’t look at it at all. Then, I go through and do a quick clean up. This is mostly catching missing words and horrible typos. Writing at 3:00 AM always provides some humorous errors (sell phone instead of cell phone…or the scandalous: pubic instead of public…yeah, that happened).
2. It is at this point I hand a hard-copy of the MS over to some trusted beta readers. Their job is to give me general content comments. How is the pacing? Is it confusing anywhere? I specifically ask them to poke holes in anything they can. I try to make sure that I give it to both male and female beta readers. My readers are usually teachers, but I specifically pick non-English teachers,as well as, English teachers. You need math/science people that can look at your work from a different angle.
3. While I am getting feedback from my beta readers, I start working through word choice, clarifications, and tone.
4. I do not cut anything until I get to the third draft. I will often color code something I am thinking about cutting, but I hold off. Sometimes the items I am thinking about cutting end up being moved or inspire something else. Also when cutting, keep extras in mind.
I usually have four to five drafts, plus proofreading for each novel.
I have more tips and free resources on my website here: http://robinwoodsfiction.com/for-writers/
Hope this helps. I am happy to answer any other questions you have.
Blessings and good luck!