Being an entrepreneur means that you must be able to assess the risk of your business however it doesn't mean that an entrepreneur must taks a high or big risk. You can still be a successful entrepreneur by running low risk business such as business that are on demand to avoid loses.
Still, what's important on being an entrepreneur is management to your business which is the complicated part. Which is why most people will always, that they left the 8 hours every 5 days of their just to work 24/7. You might have control over your time however you must be ready to a lot on your business if needed to.
Yep, time management is the most crucial thing for an entrepreneur to be able to maintain a balance between his business and personal life...
entrepreneurs are led to focus on their business but excessive working time and falling sick can make businesses run sluggish.
I find it interesting how this differs from culture to culture. In the western more libretarian (American) concept, enterpreneurship is on top, but when you go in the other georaphical direction, South Korea for example, there an office job is of the outmost value. I just find that interesting.
citizens in asia especially east asia have a hard work ethic (not business) because they think working with other people has a chance to succeed faster than building a business from scratch afaik.