Growing up from 1+subs to a team like you're saying is a classic problem in consulting. The financial math is not in your favor until you get a consistent team.

Here's an article of mine detailing the issues and also detailing solutions: http://blog.asmartbear.com/consulting-company-accounting.html

Having said that, I would also say you're trying to do too many things at once with not enough resources, which means the chance of being successful with each one is diminished.

For example, you could focus on consulting revenue so you can build up your bench, so that you truly can self-fund the development of a product without distraction.

Or you could focus on product, investing time/money there with consulting only to pay for that, even using subs for that, until the revenue there gets to the point that it's scaling (which will be hard, as you can already see).

Building a product or a successful consultancy is individually very hard -- most fail. So trying to do both at the same time means you'll almost certainly fail.

Which is a shame, because that's "failure due to time-management / strategy" as opposed to actual market forces. i.e. something fixable!

I hope some of this helps, although I agree with you that talking through the details would probably be more helpful. The specific details of your situation matter.