I made this video to show you my editing and revision process:

1. What - what actually happens in the story
2. Why - why does it happen (character motivation, background)
3. How - how exactly does everything look (setting, position, scene description)
   
   

The 4th step is proofreading, fixing typos and stuff. I don't actually think you should be paying $500 for proofreading, which is why I've been experimenting with some AI editing tools.

I've also written a huge guide to writing called BookCraft.