There are essentially two types of publishing: traditional publishing and hybrid publishing. In traditional publishing, a publisher takes on the financial risk of publication in exchange for the right to control the publication process and reap the lion’s share of the profits. In hybrid publishing, the author takes on the financial risk of publication and retains more control over the publication process, but also stands to make greater profits.
So, which is better? Well, that depends on a number of factors, including your goals as an author, your budget, and your level of control-freakishness. If you’re looking to push your career to the next level, traditional publishing is probably the way to go. But if you’re more interested in maintaining creative control or earning more money from your book, hybrid publishing might be the better option.