The process of rewriting and editing

You've finally finished the first draft of what you hope will become a best seller or at least a good story to read to your grandchildren. Now comes the hard part -- rewriting and editing.
My process involves several steps:

• Outline
• This could become a table of contents or chapter headings. Some people do the outline first and then write the first draft. Others, write first and then structure. Either way works.
• Divide your first draft into chapters of approximately 2,000 - 3,000 words. Try to begin each chapter with a hook and end it on a cliff hanger.
• Arrange the chapters in such a way so that you have a beginning where you set up the scene and describe what is to happen, the middle of rising tension, and the end which provides the resolution following the climax.
• Second Draft
• Rewrite one chapter at a time, taking into consideration the above. Then put the manuscript away for a couple of weeks (or months) and let it rest.
• Third Draft
• Go through the manuscript once more with fresh eyes, polishing as much as you can.
• Developmental Edit
• Go through the manuscript noting the rise and fall of action and to see if the structure is working. 
• Critiques (3-5)
• Give the manuscript to the members of your writing group to critique. Make note of repeated comments.
• Fourth Draft
• Rewrite again, using your writing group's comments to improve the manuscript. Put it away for a couple of weeks.
• Read it out loud
• Using a voice recorder, read the manuscript out loud to yourself, and make changes where necessary. Then listen to the recording and repeat.
• Beta Readers (3-5)
• Give the manuscript to non-writers who enjoy your genre and are knowledgeable about the topic.
• Fifth Draft
• Make changes and rewrite taking into consideration beta readers' comments.
• Line Edit
• Go through the manuscript line by line.
• Copy edit
• Grammar, spelling, and punctuation.
• Beta Readers level 2
• Give the updated manuscript to a new set of Beta readers.
• Final Draft
• By now, you are probably happy with the result or fed up with it. It's as good as it gets. 
• Title Page
• Cover
• Layout
• Proofreading
• One more round.
• Publishing
• Advance Reader Copy and reviews.

Finally, you are there. Another book in print and hopefully being enjoyed by all the readers. Don't linger too long - start another project!