Hey marketing people! What's your "the one"?

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What's the one essential step you never skip at the start of a new project? Do you always go for market research, audience analysis, or focus on building a strategy right off the bat?

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Gurkaran Singh
Never skip market research—it’s like trying to cook a gourmet meal without any ingredients. You wouldn’t do that, right? Besides, understanding your audience is crucial, whether it’s for selling a product or, say, building the perfect dating profile with "Her Ideal Match."
Felix Sattler
For me there are three essential steps instead of just one. But if it would be one – would definitely be the market research, but here come my top 3 instead: 1. Market Research – understand your ocean 2. Note down all USPs that are unique to your product and set you apart from other solutions in your field – find your blue ocean 3. Build personas for your target audience – in the past I saw that especially when working with MVPs, a traditional audience analysis wastes more time than needed, as in early stage you still don't know exactly who you are talking too. So I tend to focus first on building out some personas, as these also give people a really easy understanding of who they are talking too.
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@felix_sattler Thanks for these valuable insights Felix! I'll definitely try to apply them to my cases.