If doing what you want is an option for you, you should do it, because your one of the few lucky people who can. And even if you fail, you will be in a better position than if you’d never tried. The competition probably isn’t that crazy. Most people are too scared to even try. Bad things can happen, but every horrible thing that has ever happened to me has added integrity to my art and improved my understanding of the human race.
Get a notebook and write at least a word in it every day.
I am starting to think that the best advice—the only advice, maybe—you can give comes out of your own haphazard, irregular, lucky, accidental experience.