This article is part of a two-part series on learning how to be a consultant.

Try this true-or-false quiz about consulting, adapted from The Business of Consulting: The Basics and Beyond by E Biech.

1. Consultants can make loads of money, some even make £500 per day others double that - that's better than a normal salary.

2. One of the advantages of being an external consultant is that you can avoid the politics and paperwork of an internal job.

3. As a consultant, you will be seen as an expert in your area.

4. If you have your own consulting practise, you'll have more free, unstructured time than you will working for an organisation.

5. When you tell others you're a consultant, they'll see you as a respectable professional.

6. It is easy to break into consulting; all you need to do is print business cards.

7. At some point, deciding to build your business is an easy decision, and one most consultants will want to make.

Now review the answers.

1. Most people think this is true. But salary, like all jobs, depends on the stage of your consulting career and the kind of consulting you do. If you break down what a consultant charges per hour, it might not be as much as you expect. Some consultants are getting rich, but some are not. It's important to remember that the time you spend developing proposals and preparing for meetings and training sessions is also a significant part of your day. Finally, you're responsible for your own taxes and expenses (office space, equipment, insurance, and so on) if you are an independent consultant. For beginners, the answer to this question is probably false.

2. Just because you operate as an 'external' consultant does not mean that you're free from political entanglements. As you can well imagine, the existing political climate of an organisation can directly affect your own work. Businesses hire consultants for any number of reasons, from the noble to the very base. You'll need to come up with incisive questions to assess the political climate of an organisation so you can go in with your eyes wide open.

3. Actually, you may or may not be seen as an expert. This can actually be tied to question 2 - you may have been hired in order for the company to have someone to blame.

4. As a consultant, you will be obligated to work at your client's timetable. If they need something right away and you agree to provide it, your workday might not end until the small hours. Many times I've had to shuffle responsibilities because a client (or potential one) wanted a project or a proposal immediately. If you find yourself unwilling to cut back on your recreational time or are so busy with other commitments that you can't be highly flexible, you may find yourself with a dwindling client base.

5. You've probably already guessed that the answer to this question is usually false. Despite the prevalence of perfectly respectable and honest consultants, the term 'consultant' can evoke negative reactions just as 'estate agent' often does.

6. True! All you need to begin consulting is a foot in the door. Business cards, brochures and other explanatory materials are one way to get your message across and distinguish yourself from existing consultants.

7. Deciding to build your business is a difficult decision with far-reaching implications. The more people you bring into your business, the less control you are likely to have over its daily operations. You and your employees or partners may have differing business goals, and that can be problematic. However, hiring out people to work on specific projects for you is one of the most lucrative consulting techniques. You get a cut of the profits, and someone else works with the client.

Those who can consult: part 1