Why wouldn't your first check be to yourself?
I guess I'm well rounded so that doesn't really apply to me. I hire for roles that consume my time but still provide value (the necessary busy work).
I'm a much worse employee as the proud failure of 7 startups (on #8 at the moment). So much bullshit, waste, politics, needless meetings, etc., that working for a company again is one of the most painful things I've ever had to do besides death of a family member or divorcing my first wife (that was #1 BTW).
I will agree with your #2, work life balance can be hard. But if you find yourself not wanting to work on a Wednesday, you can just not work that day. If you're particularly inspired on a Saturday, you can go all in.
My biggest issue was around this (startup #3, first fully self funded). I felt if I was not working every waking moment, I was failing. I learned my way out of that one eventually.
Discipline is the key in working for yourself. I'm lucky that my parents were both entrepreneurs. I saw them fail and succeed (and fail and succeed again...).