"I will pay for actual legal counsel before entering a contract"

That's easy to say - when it comes down to getting a lawyer to review something or making payroll that months it starts to look a bit trickier - especially when you realize that having a lawyer review something actually only provides a very limited form of protection. Of course, if you have external investors you tend to use lawyers more as you have to be seen to be performing due diligence and, of course, you simply have more money.