That's the whole reason for this site. I've tagged all of my personal posts as "diary". While the easy answer is "yes" by many who have made it as an entrepreneur, I'm not there yet but I plan on documenting the journey.
Anyway, you're here for an answer so let me help you out. I'm lazy. So I Googled it. A simple Google of staring a business while raising a family led me to the following search results.
From what I gathered, most of the search results led to obvious things like: "Prioritize", "schedule your crap", "think of yourself", or "don't forget your kids!"
Seriously, who writes like this? I am certain it is definitely not business owners. But hey, they got their SEO points. It's the first page.
Locally, I've gotten a chance to talk with business owners in American Canyon. I invited myself in one of the city's Chamber of Commerce meetings, ate their food and ran into a couple of business owners who are raising family and running the show.
While most of them were not running a business online a few were doing it from home. Most were your typical barbers, diners, dentists, daycare, etc with the old adage of "just work really hard" and I would respond with:
But I did talk to one guy who ended up in San Francisco and used to live here. For whatever reason, he decided to come to this meeting. He started a web development studio from his house, worked on it for a decade and moved to the city to be closer to clients. "I'll give you two tips," he said.
Be prepared to grind like there's no tomorrow and hope your kids still recognize you.
"Awesome," I replied.
But from what I've gathered online and from local businesses, here's what resonated with me:
1. Don't feel guilty if you have to work late or super early
I believe this is what it's going to take. There's going to be hundreds if not thousands of hours dedicated to just pushing designs and grinding off code. There's going to be frustrations and you'll want to take those frustrations elsewhere and not during the time you pick up your kids from school.
2. Make sure your spouse approves and that she's in it for the long haul
That will either mean you going part-time or full-time on this thing. If you're going full-time, your spouse will not only be the bread winner but also carry the load on the kids. She will have to believe in you and your crazy idea.
3. Understand the risks - both financial, mental and physical
If you're going to bootstrap the whole thing remember that businesses also have expenses. It will need things like hosting, domains, software subscriptions and meetings. You will need to budget things out and live within those means and that includes your entire family's habits as well. You'll have less movies to go to. Less toys to buy. You'll have to be more creative with your money.
These are mines thus far. What are yours? Leave them in the comments below.