The answer to the headline is “never,” right?

As we said in a previous blog, if you can’t afford to follow your passion, then don’t quit your day job. Even just a few minutes a day immersed in doing what you love is good for you for many reasons, until you are in a better position to pursue your passion full-time.

But what if you really want to pursue your passion full-time, right now – as a new business venture, a new career or a new way of life? How do you know if it’s the right time to pursue it? When will it ever be the right time? How much money (time, resources, investors, etc.) do you have to have before you’re ready to go out and just do it?

Everyone will have a different answer to this question, because everyone has a different level of risk that they’re comfortable with.

But let us give you a rule of thumb: Before you do anything, determine your Acceptable Loss.