Self-Publishing v/s Traditional Publishing 

There are significant differences between traditional publishing and self-publishing. Here are a few details on how each process works. 

SELF-PUBLISHING: 
Authors who want to publish their own work through an online company need a computer and an Internet connection. They upload their manuscript, along with any illustrations and cover designs, to the company's Web site. Many companies offer extra services, such as art design and editing, for extra fees. Some companies charge authors printing costs and other expenses. The companies usually get a cut of sales, but it's far less than traditional publishers. Authors must handle marketing efforts themselves. 

TRADITIONAL PUBLISHING: 
To get published through a company such as Simon & Schuster or HarperCollins, an author usually must find an agent. The agent helps put finishing touches on a work and directs it to editors and publishers likely to have the most interest. The publisher then works to improve the text, develop cover designs and marketing plans. The author usually has to sign over the rights to the book. In exchange, the publisher agrees to pay royalties. Deals vary depending on the book, but the royalty is generally less than 15 percent of the retail price. 

Publishers usually pay an advance, essentially a portion of what the company estimates an author will earn in royalties in the first year or two.