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Tackling a whole 50,000+ word novel can be a lot. Here are some ways to break down the process to make it a little more digestible.

Choose, research, and enjoy your story's setting. Whether this is a fantasy realm, a lost planet, or a small suburban town, know and research where your story takes place. Think about the time period, cultural details, geography, the laws/rules, etc. This is a world where the reader will be spending hours, so make sure it's immersive.

Place your protagonist in the world and give them a story. You could have the most detailed fantasy world, but that means nothing without a story or character to explore it. Create a compelling main character and give them a story that progresses them throughout the world you created. 

Find your story's theme. A well-rounded story will revolve around a theme or central idea. Some themes include survival, love, good vs. evil, death, war, forgiveness, etc. What do you want to teach your readers or leave them with once the novel is finished? Do you want them to know that forgiveness is important? That war creates wounds only love can heal? That beauty is in the eye of the beholder? Weave these themes and lessons into your plot and story.

Create a cast. Build your protagonist friends and foes that support or challenge them on their journey. Give some of these characters their own arcs/side plots to thicken your story. There are a bunch of character types that you could add to your story such as the love interest, a mentor, an antagonist, minor characters, etc.

Divide your novel into acts. Once you know the big picture of the story you want to tell, break it up into acts. There are three main acts of a traditional story: Acts I, II, and III. Look up and consider following the Three-Act Structure to give your story a fluid motion of beginning, middle, and end.

Know your ending. The ending is the final part that your readers digest, meaning that it will likely stick with them. You don't have to fully understand how your novel will end, but having somewhat of a plan is important. This way... when you write, you're writing towards something.