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There is no perfect time to do it, so if you are keen and confident to take the leap just go for it (with your eyes as open as possible, thats the advice I got). Worst case scenario it all falls apart and you have to find more work again, best case scenario you are now doing something you are passionate about and never look back.

You can always find part time work to bridge the gap. In fact having a 2-3 day a week job for a while might assist with the transition not just financially, but also to break up the days so that you are not stuck working on your business all the time without a break.