I would say you need to first define what your objectives are and plan your startup. Good planning will give you the basics to balance your schedule and have some time to share with your family. If you give more details about which are your startup company plans, target market and product/service, I would be pleased to give you more advice.

For instance, to work from home I would say:

• Have a private place to work
• Dedicate at least 3 hours to do the hard work
• Dedicate 1 hour to answer your emails
• Dedicate at least 1 more hour to read news and learn more about your business area

there was a nice article on venturebeat - not the exact same issue but v similar:

Launching a start-up and having a family life: It’s possible! http://bit.ly/5oi54P

Hello, You have asked a great question. Some of us can probably use your question to reflect upon our own situation. I have a few suggestions that have been effective for me. First, I am a single parent of an only child age six. For the past three years, I have started and operated my business and attended college full time(12 units). About four years ago I learned that bed time for myself will become midnight or later, for my child it is 7:30/8:00 pm. Also, I get up at around 4am because I am excited to start my day. I love what I do. In my opinion, there is not really a balance, instead there are sacrifices. We as parent's sacrifice time spent with our family in order to provide them with a quality of life. Another way to put it is "opportunity cost" where we work 60 to 80 hours a week now and in ten years the work will pay off. The question is how much are you willing to sacrifice for your family to have a prosperous future? By the way, a practical system for you and your child is to spend 10 minutes of each hour with your child. I used this system and it works. Last, if you do not have a home office for your business then get one. http://www.onefatherslove.com

According to the Mayo Clinic, the first step is, "to recognize how the world of work has changed. Then you can evaluate your relationship to work and apply some specific strategies for striking a healthier balance."

Here are the first few ides to help you find the balance that's best for you, but take a look at the rest of the article (FYI - it's 2 pages long.)

• Keep a log. Track everything you do for one week. Include work-related and non-work-related activities. Decide what's necessary and what satisfies you the most. Cut or delegate activities you don't enjoy and don't have time for. If you don't have the authority to make certain decisions, talk to your supervisor.
• Take advantage of your options. Find out if your employer offers flex hours, a compressed workweek, job-sharing or telecommuting for your role. The flexibility may alleviate some of your stress and free up some time.
• Learn to say no. Whether it's a co-worker asking you to spearhead an extra project or your child's teacher asking you to manage the class play, remember that it's OK to respectfully say no. When you quit doing the things you only do out of guilt or a false sense of obligation, you'll make more room in your life for the activities that are meaningful to you and bring you joy.
• Leave work at work. With today's global business mentality and the technology to connect to anyone at any time from virtually anywhere, there's no boundary between work and home — unless you create it. Make a conscious decision to separate work time from personal time. When with your family, for instance, turn off your cell phone and put away your laptop computer.

Check out the article for the rest of the tips!