That's a good question and I think the answer depends on your business model. Mine approach has always been of a guerrilla-type approach where I optimize revenues through exhaustive exploitation of various resources (translation: cheap if not free)
Since I don't engage in PPC, I can only tell you what I've learned from others. It's great if you have a good cash flow source either through capital, primary job, savings, or other start-up funds as it takes a while to refine. It will get you traffic, but getting that traffic to translate into actual cash sales is the tricky part.
SEO can also be pricey to get good first-page placement right out of the gates, but there are ways to use popular sites (such as youtube postings) that have more SE credit to get good placement. Do a search on...IDK...replacing your gutters and I'm sure on the first page will be a youtube video with some guy telling you how to do it (and, if he's smart, having a link back to his website offering a free step-by-step guide for signing up on his list, followed by marketing his book: 1001 Things Your Lazy Husband Can Do Around The House During Football Game Commercials for $19.95) This would be my personal approach BUT it depends on what your long-term business goals are.
Now that I haven't specifically answered your question, good luck! 
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