Business Partnership Advice

We are 3-partners company already started a year ago. We all have full time job and are working in part time to build our business idea. It is a web project and we outsource the design and development work to India. The project idea is great, but since we are working in part time, the progress is pretty slow, not only the development side, but also the marketing, the decision making, the business planning, etc. Recently, we also find that the budget is almost close to our limit. I know there are some missing pieces which needs to be completed before launch, but we have some argument about our working capital. With that in mind,

1. Should we launch our project no matter what?
2. Should we give up our idea since we don't have time to work on?
3. What other alternatives do we have?

Your advice is much appreciate. Thank you.

Regards,
Marcelo