Even in business, one popular advice that is always given is to follow your passion. But is emotional fulfillment always more important than big financial returns when it comes to business?
Based on the current situation of the business sector, would you recommend entrepreneurs to put up a business that caters to their passion even if it would pay them a little?
This is a major question of your motivation in life -- to work or to play? to earn or to enjoy? The typical high school guidance counselor will ask you, "If you had infinite money, what would you do all day?" and whatever your answer, that's what you should do for a living. This is a great recipe for finding happiness in your job, but as many people find out, it may not be a great recipe for finding monetary reward quickly.
That last word is key, though. I believe that most jobs eventually can pay enough to live comfortably. A friend of a friend worked at Best Buy right after high school, eschewing college for long-term employment. Through many years of hard work, he's now a regional manager and making many hundreds of thousands of dollars.
I lived in an apartment above a man who was a photographer who, after many years of effort and luck, had managed to receive international acclaim and is now in constant demand for his work. The imagined starving artist is a valid affectation, but eventually, most jobs pay off.
So, should you follow your heart or your wallet? You've specifically asked about starting a business as an entrepreneur. If they feel that their idea has merit, hopefully they've found a niche that they feel needs to be filled. They want to build a product that they wish existed, and that is worthwhile. It will take time, it will be difficult, and it may take many years to properly pay off.
If they can afford to do it long term, working on their passion is always better than the quick monetary gain. Few things about get rich quick schemes are certain. If your choices are: work in a job you're certainly going to love, or work in a job that might pay off, I think I'd prefer the certainty.