Starting an electrical consulting company is exciting. You get the chance to be your own boss, work when you choose, and of course make more money. This is probably true years down the road. None of those things happen the day you start, except be your own boss. As for work when you choose and make more money that will take some time to get there.
Lets talk about work when you choose, you work for you clients and when they choose. When you start your business you want the best of the best provided to anyone that is willing to give you a chance. That first few chances feel like winning the lottery, the chance to prove yourself as a business owner. The part that no one tells you is your are where the buck stops not some big companies corporate structure to lean on when you make a mistake or do not know or understand a certain request. The good news is you will get better at this and will grow to hire some support to help with those stressful moments.
As for the making money part, this can come fast to some but not to others. There money might come in spurts where you are waiting to get paid for months at a time rather than that every two week pay check that you were used to receiving like clock work. You will be required to have some money in the back to handle this cash flow norm. As you get rolling with project after project and you submit for payment you will start recieving a steady cash flow to help with your expenses.
I love what I do and that I am on my own. There are hurdles everyday but as an electrical engineer we are experts at problem solving and enjoy them. So being out on my own is a chance to use my expertise everyday for my clients and for my self. Hang in there and have fun!