How does any entrepreneur know the time is right to start a company? The answer is different for every individual. But when I asked a Software Company CEO that lived in my neighbourhood some weeks ago -- He said one should invest 3-5 years of experience before starting a company. It may be possible to get that experience by the time you're 25 thats if you have actually been planning on your carrier early enough, definately thats what we see with the likes of Bill gates, Mark Zuckerberg..and who knows U.
if you've spent the previous 5 years developing a specific product -- sandals that you've designed -- or a key skill -- programming applications on a smartphone, or a strategy--marketing for instance.
Otherwise, a young graduate or undergraduate should first identify a field that interests him or her, then work or take intern in its leading company before launching a new venture.

The reasons for his suggested strategy as he said were simple.
First, experience will help young would-be entrepreneurs develop their skills and find out what they are really good at, compared to rivals.

Second, it will help them develop a network of potential suppliers, employees, investors and customers.

Finally, it will let them see market opportunities that their employer is not tapping into, opportunities on which they might eventually base a new venture.

I know Entrepreneur has a lot to do with risk taking, but if u must take a risk it should be a planned one where there's a higher probability of scaling through, and You know what that involves Planning Big Time..
Now the Question is when do you think is the right time to launch your start up??