What should I know before I publish my children’s book?

I’m getting ready to publish my children’s book, and I’m realizing there are more choices than I expected. What should a first-time author focus on first: editing, illustrations, formatting, distribution, or rights? How can I compare publishing options without getting overwhelmed? If you’ve been through the process, what questions helped you make a good decision, and what mistakes should I avoid? I’d appreciate serious, honest advice.