Hi there :)
I think one of the easiest ways to not get carried away with time is work ahead with your social media postings (make a weekly/monthly list on what to post on what day) you could easily knock that out in an hour or two depending on if you want to share articles or blogs. Maybe also limit yourself to a certain amount of time per day to go through the teams. I think the more structure you have in your business, the better off you'll be :)
you could also keep track of this via Hootsuite.com. I haven't looked into it a ton, but I know it's a productive dashboard.
Obviously, you need to be connected with what's going on in the here and now, so taking maybe 45 minutes a day to read etsy news, mashable.com and maybe even entrep could really help as well :)
best,
Kelly