This is a great question, thanks for asking it. I would add that many young entrepreneurs don't yet have the experience or wisdom to know when to make rational decisions, and when to make decisions based on emotion.
Hiring (specifically interviewing) is a good example. Too many bad hires are made as a result of being swayed entirely by likeability, or 'following your gut'. To be effective, hiring has to more balanced, based on specific requirements, and more objective.
But when an employee comes to you with a personal problem and they're visibly upset as a result, you have to turn off your brain and turn on your heart. Listen carefully, be empathetic, and be supportive.