I don't post very often, but I am really loving the idea of this post.
We fact a lot of the same challenges as many of you. Poor employee ethics, balancing time between doing the work and running a business, now with our first little one expected in the Spring, trying to figure out how we will make family the priority.
For right now I have been handling the phone calls and have just started to take over the scheduling of estimates and jobs. It really took a load off of my husband. I have always been actively involved on the business side of things - marketing, advertising, bookkeeping, etc. I've really had to start to get more directly involved, therefore acting as personal assistant.

My husband runs day to day operations - works with his climber on each job, takes care of all equipment, does estimates, etc.
A couple of things we've realized will have to happen in the near future in order to survive - not financially, but mentally and emotionally:
Newer equipment - the pain, downtime and expense of maintaining old, outdated equipment is not worth the financial savings of making it last "just one more year".
Appropriate equipment - having to dump the chip truck 2 - 3 times a day = needing a bigger truck. The down time costs way too much money. Etc along those lines.
Becoming better employers - not only seeking out good guys (and not just hiring someone because you're desperate) but also having solid employee plans so that they know what our expectations are, what the benefits of working for us are. That would include regular reviews with a raise schedule (both financially and in responsibility), education perks (safety courses, arboriculture courses, support on becoming ISA certified, having a library of books and DVDs they can access, etc), supply company logoed gear, bonuses when the company does well and they've contributed to it, and so on.
Willingness to let go - I think one of the hardest things we all face is giving up control of day to day business - both in doing the work and interacting with the customers. After all, no one will do the job like we do, and no one will care for your company the way you do. I think that's just something we have to realize and then get over, then figure out what we ARE happy with and move are expectations to that level. I would also include in this making the decision to either run the business or run the job. If you want to run the business, then you need to hirer someone to do the job (which is what we will be doing in the Spring - bringing on a groundsman to my husband can step back and focus on the business end of things and act more as foreman), or vice versa.
So, this may not be exactly what this thread was started for, but I'm hoping it ties in nicely. If you are at a place where you are not happy with the amount of time and energy you are putting into your business then you need to stop and think about where you enjoy putting your time and find a way to be successful doing that.
Our newest goal in life is to "Work to Live, NOT Live to Work".
Natalie