Actually #1 is my favorite, as I'm better at technical sales and rapid prototyping than I am at slow, FAANG style politicking, planning, risk mitigation and eventual development. I've done both at various points in my career and consistently make about ~twice as much money running my own consultancy, not to mention I'm so much happier in that environment.
Do you get much stress in terms of sometimes not being “rapid” enough, not having anyone to rely on apart from yourself (assuming you’re solo), and finding business?
Not really, because I always maintain at least a few clients so I'm not too worried about losing one. Once you have a solid pipeline, losing a client becomes just part of the business, not the scary emotional experience of "getting fired".
And I have a network of other independents I can bring in to help out with things. They're a good source of leads for me as well.
