Step 1: Identify the function you want to differentiate. In this case, the function is f(x) = x^4.
Step 2: Use the power rule for differentiation. The power rule states that if you have a function in the form of f(x) = x^n, the derivative f'(x) is n*x^(n-1).
Step 3: Apply the power rule to f(x) = x^4. Here, n = 4.
Step 4: Multiply the exponent (4) by the coefficient (which is 1 for x^4) to get 4.
Step 5: Decrease the exponent by 1. So, 4 - 1 = 3.
Step 6: Combine the results from Step 4 and Step 5 to write the derivative: f'(x) = 4x^3.