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There's something about ppc that's kinda cool, and that is that it is a much easier way to break into the seo biz. You can literally pick keyword terms and optimize without having any clients, when you place well simply direct the traffic to one of the relevant sites ranked around forty something. Follow up with an e-mail a few days later asking if they would like the added traffic to continue, if they don't want it, shop it around.
On the con side, you have more initial investment in the way of domains and hosting costs. Those things keep costing you whether there is income coming in or not, but it can also be a great motivator and insurance.