You have the basics down (VERY BASIC!) in that you move shared to VPS to dedicated.
However, there are more options: semi-dedicated, reseller and cloud.
(1) semi-dedicated = more powerful shared, sometimes called "enterprise" (ie
Stablehost) or "businesses" hosting. Note that "business" is sometimes a marteking term, and not reflective of the offering (ie, not semi-dedicated)
(2) reseller = split all domains, so not trying to cram many into one shared account
(3) cloud = the infrastructure only. "Cloud" hosting is still shared, reseller, semi-dedicated, or VPS. Note that the term "cloud" has been raped, and is meaningless at many hosts. There's also several definitions of cloud, and all can be accurate.
Site5 is one of the few hosts offering an actual cloud of this nature.
Now, again, you only have a basic understanding...
For example, a low-end cheap VPS can be less powerful than a good shared host's dedicated server. So moving "up" to VPS would actually be a downgrade. So you need to be careful withe specs chosen. Much of that depends on the site itself, and what it needs. Some need CPU, while others need RAM or I/O.
Even a cheap dedicated server with non-RAID SATA may be a downgrade from a site with RAID-10 SAS or SSD, if it relies on I/O to serve downloadable content fast (ie, podcasts).
We never give generic advice on this site because, as you can see, generic advice doesn't really work.
So, tell me your site, and what issues you're having, or think you might in the future. We can discuss your options better.
Also...
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