Piece of styrofoam (you can also use a few pieces of cardboard sandwiched together but foam is easier)
3. After each coat stick the exposed pointy ends of your toothpicks into the styrofoam so your knob is upright. That bad boy isn't goin anywhere.
4. Make sure you let them dry thoroughly before removing the toothpicks so you don't get any fingerprints after all your hard work.
5. Make sure you have a dog standing by who wants to get his head accidentally painted when he jumps on you in the middle of your project. This step is optional.
Thats it! Hope it brings a little more sanity to your furniture finishing process.