1. Start with world-building: The foundation of any great fantasy story is the world in which it takes place. Create your own unique, and well-thought-out universe with rules, history, and rich details. Consider the climate, geography, technology, magic systems, political structure, and economy.

2. Develop your characters: Your characters should be complex and believable. Start by forming their backstory, personality traits, motivations, relationships, and flaws. Create intriguing protagonists as well as multi-dimensional antagonists.

3. Choose a narrative perspective: Decide from whose point of view you want to tell the story. The perspective could be that of one protagonist, several characters or an omniscient narrator.

4. Create a strong plot: Your story should have a clearly defined beginning, middle and end. A strong plot usually includes an inciting incident, rising action, climax, falling action and resolution.

5. Incorporate magic and fantasy elements: Creatively weave magical elements into your story so that they blend seamlessly with your plotline and world-building efforts.

6. Develop a unique writing style: Experiment with different styles to find the perfect voice for your fantasy novel. This will help readers connect better with your story and characters.

7. Establish a consistent tone and atmosphere: A well-executed tone can enhance the readers’ experience. Whether it’s dark and gritty or lighthearted and whimsical – consistency is key.

8. Embrace conflict: Conflict fuels the plot progression in any story. In fantasy fiction particularly, it can take various forms such as physical battles between good and evil forces or internal struggles within characters themselves.

9. Borrow from legends and mythology: Fantasy often draws inspiration from existing myths, legends or folklore stories from different cultures to illustrate themes or create new worlds.

10. Edit ruthlessly: After completing your draft of the fantasy novel, revisit it multiple times. Edit and revise with a fresh eye, focusing on characterization, pacing, dialogue, and world-building. Seek feedback from trusted readers or professionals for unbiased opinions.

11. Persist and stay resilient: Writing a compelling fantasy novel is a long and challenging journey. Embrace the process, be open to learning from your mistakes, and never give up on honing your craft as a writer. With time and effort, your story will evolve into an unforgettable masterpiece.