[mccon104]

how confident/comfortable are you with the idea of working on this company as your sole source of income? ... really, you need to honestly answer that question first.

second, do you have a co-founder? though one isn't necessary it doesn't hurt to have one (or more).

to go with option 2 (which is my knee-jerk recommendation), answering affirmative to the first is required, for the second it's "strongly encouraged".

also if you have a spouse, sig-other, or any dependents, it might be nice to (see: you better) talk this over with them and get their input.