GerryBertier, Staadproman,
I knew a guy in school, a journeymen plumber; he became a mechanical. Though we graduated in a bit of an economic slump, we were all grinding for a job, he was picking and choosing, and scored a (relatively) high salary to boot.
As we were getting our P.eng's, he hung his own shingle right away, and it seems he came into quick success. He had that deep hands-on background in plumbing, J-man credentials, along with tons of contacts in the industry even before he started engineering. It's not hard for him to get the first job with a client, and once he has it, clients don't want to go anywhere else. He knows how to work with contractors, talk their language, when to be the bad guy and when to let things slide. It doesn't hurt either that the guy is about as personable as they come.
Some other guys I know, who have done nothing but worked in engineering offices, out there, hanging there own shingle, tell me its a real grind. If there is nothing special about you, and you don't even have grey hair to show, there is only category you can compete in: price. From what I've heard, that market is a race to the bottom.
The point of my story is that unless you have a real niche field to exploit, you're just another engineer in the yellow pages. Find your niche and you'll be turning away work.