I thought that this was just crazy!
I stopped by a client of mine and he wanted me to put a bid on their parent company's web site. He showed me another web design/development company that was bidding on the job. He said, "You want to know the funny thing… they didn't even have their own web site!" I think that at that point you turn and run! I wouldn't even want a bid from that company. It would be like going to an automotive mechanic and finding out that he doesn't own his own car and doesn't have any referrals for you.
#2 - Can you afford to not have your website up?
It is the first place that people (or clients) go to see if you are for real. There are plenty of affordable solutions but a temporary site (splash screen) should have links for your potential audience to find out more about you or your business. Even a little explanation (and time that it will be completed) with a button for them to send you an email with any inquiries.
Here is a good example of what I am talking about. John Brown is a developer, that gives basic information about his skills and links to either connect to him or his Social Media Sites (Facebook, Twitter & LinkedIn). And I really appreciate his subtle touch of using the "brown" colors to re-emphasize his name. Nice touch!