Failed to Find Steam
There is a bug that some games encounter in Steam that results in the error "Failed to Find Steam" when you try to start them. For me the game that did it was "Jade Empire." Some digging around led me to this thread.
The issue is caused by the Steam app not being correctly in the path of the game. I followed the directions and added the Steam application path to the PATH variable. Then I closed Steam and ran it as administrator and voila, it worked.
This was done on Windows 8.1
Remember that if you are already using Steam as a non-admin, closing it and telling it to run as admin does not work. You have to manually kill the process, don't just close it. Otherwise it fails to run as admin but never tells you.
It is super annoying that I always have to switch to the local admin account in order to play this game (Run As Admin.) Handled very poorly by Steam.