I have been a business owner for nearly a decade and, at its most, was responsible for leading a company of 110 employees. I am 36 and have never worked a mere 40 hour week in my life, and it's certainly not something I see my peers doing either (the successful one's anyway). If you wish such minimum time invested I suggest getting a job at the post office or DMV.
Building a company is, in large part, about building culture. When done correctly management does not need to demand that employees work extended hours, the effort is a by-product of the buy-in to goal and the various incentive plans that are offered.
Frankly, I believe it is dangerous to suggest in an entrepreneur forum like HN that working any less than necessary to win is, or should ever be, an option.