Let's face it, if you want to be successful - start-up or not - you'll have to work your butt off.
Spending time with my family and enjoying a few hobbies is my definition of success.
Of course, it depends on the type of startup versus the type of business and your ambition level inside the business, but in my case the startup "feels" more relaxed than any business I've been in.
Not everyone thinks that being successful means becoming an executive. Many people equate success to being able to pay their bills and have fun away from work. And in most cases, that doesn't mean working your butt off.
I think your chances of getting an enormous cashout are more or less independent of whether you work sixteen-hour days. If you have a great product that people want and the skills to implement it, what's the real difference if you work eighty hours a week instead of forty? Maybe you get the first version written in half (or more likely two thirds) of the time? Big deal.
Sure, there are probably some cases on the margin where speed really matters. But I think that if your product isn't going to take off then working a bit harder won't make it to do, and if your product is going to take off then you can probably get away with eight hour days anyway.
my point was more, you can be an entrepreneur and build a healthy business irrespective of things like raising funds or working 80 hour weeks.
According to my numbers derived ex anum I'd say that working twice as hard increases your chance of getting a big payout by... approximately ten percent.
Even if they weren't working on it at the same time, as long as somebody's looking when you gain moderate success, you've got a competitor who can use your current work as R&D to catch up — and then they can outpace you if you're giving 30% fueled by pocket change and they're giving 100% with the resources of a millionaire. This might not mean death, but it does mean that falling backward into monumental success is extremely improbable. That's why people say lifestyle businesses are unlikely to yield huge rewards.