Engineering Consulting, Preparing for the Future

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Hey everyone, I am a Mechanical Engineer and have been in the Automotive Industry focused in Safety/Crash Performance and system tuning (including all related system tuning: Seat Belts, Air Bags, etc.) for the past 12 years. I am working towards a PhD in Mechanical Engineering and once I have my dissertation topic figured out I should be done with the degree in no more than 3 years. I do my best to work hard and try to get funding outside the typical vehicle application/design and apply for Research funding (outside the scope of the day in and day out)

All that being said I would like to start a Consulting business in the future (15-20 years), but at the same time I would start earlier if I could build a strong business and a foundation that supports a reasonable salary. I know that there are many things that I have to consider but currently I am not familiar with these things.

Does anyone here have a Consulting business of sorts? What should I consider?

Thank you!