How will I know when I'm vocally ready to record my demo?

Well, a while back (in 07) I tried to record a song I wrote. I knew there a were a few things I needed to vocally sharpen, but I thought I was good enough to make a song. Well, in short, the producer nicely told me that I should go and work on my voice more and take more lessons and then come back. For a short time, I did get a vocal coach but then my money ran out so I couldn't keep him and I never got a chance to go back to the studio. How will I know when I'm ready? Should I just focus on getting my vocal coach back first?