When you go through the 3 processes above, you will have a business that is designed to get you to where you want to be.
You need all 3.
If you don't know what you want your life to look like, then you can spend a lot of time building a successful business, but you won't have the freedom that you desire.
If you don't know the financial numbers, both of what it will take for you to have financial freedom and what size business you need to make it a reality, you will likely build the wrong business.
If you don't validate your business concept/model, you will spend a lot of time trying to sell something that no one wants, and you will burn out.