By learning to focus better, you'll find that you get so much more done that you thought was impossible.
My wife goes to nursing school full time right now, and I have 4 at home that I home-school, 1 boy 6 years old, 3 girls at 7, 8, and 9 years old. We also have a 10 year old daughter in a private school.
In order to get any work done, I block our time in 30 minute to hour increments, for example, one hour helping them with math, one hour reading, one hour free time for them while i work on article writing, 30 minutes to do a blog posting, 1 hour for research, 30 minutes for a family workout, etc.
It sounds complicated, but really isn't once you commit to it.
The main problem I had when I started working full time online was FOCUS, and I still sometimes waste time surfing instead of working, or reading about all the great new Internet Products I could buy when I should spend time writing content instead.
Once we started homeschooling last year, I had to really get dedicated to maintaing a proper focus and still work daily at trying to keep the right mindset to balance family and work obligations without feeling like I have neglected either.
I developed an acronym that helps me out, hopefully it can help others:
F - Find a place to work with minimal distractions
O - Organize (my desk was a mess, but now I can find stuff quickly)
C - Concentrate on only one project at a time
U - Use tools you have (Go through those folders of PDF's and software)
S - Set a goal and stay on target to reach it.
P.S. Chocolate has been shown to help with proper focus, by the way.