I was going to add this to the thread on editing chapters, but it seemed that might be too big a curve.
My guess is most folk here either have a means of monetizing their work, or would like to have a means of doing so. After all, we are writing in a new print era. And there are no solutions everyone endorses. As in, find a publisher, get an advance and pray for good reviews, etc..
My thought is that Kindle (and its fellow distributive channels) presents a good basis for monetizing your book and placing it on a level with everything else out there.
My own method -- using Kindle -- is evolving. I write my book in short chapters, about twelve or so to a "book". When I get a book the way I want it, I will put it up on Kindle as "Book One" or "Book Two" and so forth. I will price these modestly. If I end up with 20 books, for example, the cumulative price will yield an excellent return.
I hope anything in the Kindle Store will eventually be available anywhere -- iPad for example.
Here's the link for the first Kindle section of my book.
A nice feature of Kindle is that if you make changes you can simply re-upload the whole thing.
There are a number of no-cost ways to promote Kindle books. Links on your blog, email links, Twitter links. I have put several of my published books on Kindle and begun to get a trickle of sales with no promotion at all. Amazon, of course lists all your Kindle books. Here's my current "catalog": http://bit.ly/mNUEy