What are the differences between self-publishing and traditional publishing?

Self-publishing allows the author to remain in complete control over the finished product because the author decides what text, images, fonts, editorial changes, etc. are used to produce the book. With self publishing, the author also retains the rights to his/her manuscript and the finished product; the timeline from start to finish generally can be quicker; and the author has access to additional services that he/she may choose to purchase.

Typically in traditional publishing, an author's agent will submit a manuscript to a publishing house for publication. If a publishing house likes the manuscript or the portion of the manuscript they see, they will pay the author an advance and license the publishing rights to the manuscript. The publishing house will then control the process of editing, designing, publishing and marketing the work. Once the book is published the author will receive royalties from any books sold, which are initially used to offset their advance.