What are the different steps involved in Proof by Induction?

The first step is to prove that the result is true for n=1.The second step is to assume that the result is true for n=k where k is any positive integer.The third step is to prove that the results is true for n=k+1.The fourth step is to state that if the result is true for n=1 and n=k+1, the result is also true for all positive integers of n.