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Personally, I wouldnt quit my job (and by job im assuming a 9-5 thats over 40k with benefits and stuff) unless a few things were true.
1. I had enough money saved up so that when times were slow I could still get by. Anything can happen, you need "buffer money".
2. My "worst" weeks still paid my monthly debts, and allowed me money to eat =D
3. I had enough business set up such where I could start rockin right away.
4. Setting up my business would be fairly sure to be profitable and stable for times to come so that I could set up my own retirement funding and etc. In other words, somewhere in my overall business plan would have to be some way to make money 20 years in the future, or at least a idea of how it might be done. (even if it meant doing your own biz for a while but still developing skills that will be in demand where you could get a job if need be).
Then again, I don't have a job... I freelance in a few areas fulltime, but if i had a 9-5 i'd probably think about that long and hard before I went on my own.
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