There's a difference between a traditional publisher, vanity press and self publishing your own book.
Self publishing is what I do. It is where you set up a company and handle all aspects of the publishing process -writing, editing, graphic design, marketing, promotions, distribution and royalty collection. Since, you do all the work and/or outsource to other professionals then your company is due the lions share of the money generated.
There are pros and cons to self publishing as with anything. However, self publishing positions you to create intellectual property that may be placed in your estate and passed on to future generations. While I admit it isn't for everyone, I'm believing that more often than not most people can and should go the self publishing route. As you begin to garner certain amounts of commercial success it may be wise to partner with larger companies. Typically, when you start doing so well larger companies will approach you because they've heard about what you're doing. They are much more inclined to offer you a better deal although not much better. LOL
Up until this part we've been talking primarily about publishing physical books. There's also publishing through your blog, website, ebooks, special reports and audio books, etc.
For greater details please visit the links throughout this message. In addition, you may contact my office for one-on-one phone/personal consultation at 678-887-4656 or 800-963-0949.