So now that I have gone through the self-publishing process, I have some "insight" to offer. I wish during all my research, I had come across some sort of guide to help me get started and for a Canadian, I had yet to find a proper one. In the spirit of that, I have decided to make my own list. Feel free to add anything I missed in the comments!
1. Are you a non-American? If so, I have some less than pleasant news for you. In order for the American Government to not withhold a large chunk of your royalties, you will need an ITIN. This is an American tax number so that you can claim the income without them taking the default 30% tax rate (or whichever it is in your country). They require you fill out a W-7 form, get a signed letter from your publishing company of choice stating that you are a seller and your passport. Now if you're like me and don't want to send you passport in the mail, (who would do that?!) you can go to your passport issuing agency and have them make a certified copy for you to send out. This process is very time consuming and should be your first step long before you are done the book.
2. Hire an Editor. I don't care if you have an English degree or whatnot, you need a second pair of eyes to look over your work. I found mine by searching our local selling ads website Kijiji for someone advertising their editing services. I got them for a reasonable price and was able to meet them face to face. But always make sure to check their previous work, so you know what to expect from them. And know that you will still have to go over your own work again and again, so much that your eyes will start to cross.
3. Get a professional book cover made. This means using legal images that have the copyrights purchased. You can buy pre-made covers or get one custom designed, but just make sure they aren't using images from Google. I found mine by searching the internet for cover designers. I ended up using my second choice because the first company just wasn't bringing my vision to life.
4. Research the best self-publishing site for you. There are a few to choose from, so make sure you look at each one closely. I chose Lulu because it made your book available on all eBook sites, including Amazon (which Smashwords does not). But Smashwords offers author generated coupons, where Lulu does not. It's all about personal preferences.
5. Format the manuscript properly. Most self-publishing websites will reject your manuscript if it does not meet the formatting requirements. Best to do it right the first time. The publisher will generally have a how-to or helpful post on what to do to ensure it isn't rejected.
6. Marketing. Now there are many different methods to utilize here, depending if it's just an eBook you are offering or not. I would suggest going on a Blogtour. There are many companies that offer this and for a price, they will tour around your promotional package to various blogs to gain more exposure. Also Google AdWords can be of use (depending on your budget). You can also look up book review blogs separately and email the host to see if they would do a review of your book in exchange for a free copy. Social networks are something to consider. If you have a large following, it may be beneficial to post that your book is for sale and where they can get it.
For now, this is all I got. As things pop up (as they usually do) I may add to this list. Good luck on your self-publishing journey! Have any stories to share? Feel free to post them in the comments!