My first company failed completely. And it failed at about ten months old. I had about 12 months of savings, so when it failed I was thinking: 'Do I go back to work?' And at that point I believed so deeply in what I was doing that I couldn't imagine anything else other than trying to make this business work.

Most weeks, I work 100-plus hours on TheMuse.com. There are definitions of 'work-life balance' that would say I have none.

If you're able to arrange a trial period with a new hire, do it. It will give both of you a chance to make sure the position is a good fit - and can help you avoid being in the awkward situation of wanting to fire someone three or four weeks in.

For those working menial jobs or putting in 100-hour weeks for corporations, the lure of starting your own business can seem like a great way to get more flexibility, upside, and ownership.

I've learned I'm rarely able to stay at home and not work. If I try to 'just sit on my couch for a little while,' I am going to grab my laptop and just knock out a few more emails, or start sketching up some product ideas for TheMuse.com. So when I want time off, I schedule dinners out, movie outings, and on occasion a flight lesson from Groupon.

Keeping a 'CEO blog' or 'founder's blog' can be a great platform for engaging your users in a nontraditional way, reaching people outside of your product pitch and building rapport without selling them anything except a belief in your ideas.

For almost the first year of The Muse's life, I would do 5 to 8 networking events a week. And I don't necessarily think that's the right path for everyone, but I realized that as an entrepreneur, one of my strengths was finding the right people who could help us. I didn't come into startups with any network.