[slededit]

You either want it or you don't. If you haven't been laying the ground work for years it's not likely to work out. Have you saved enough? Structured your living situation so you can move to wherever is most optimal?

Not only will you not be making money, your business will need capital to prove product market for before anyone will even offer seed money. Can you put up the cash?

This isn't just another job it's a lifestyle change. A lower paycheck is the least of your problems. Is your family 100% invested? Your work will look like fooling around to them when you have no office or product in the early stages. Subtle hints about "maybe it's time to get a real job" will sting. Partly because you won't be 100% sure yourself at times.

My advice is don't do it.

[koudos]

The financial aspect is definitely something that I've been saving up and working towards for a long time now. The path of transition is really what's not clear in my head. Your advice on the investment of my family is a good point.

[slededit]

The path to transition is pretty easy, you quit, go home and figure it out. You'll end up working on something different than what you planned anyways unless you've already been talking to customers.