Family businesses can be serious entities. Some of the world’s biggest and best companies are owned by families, including Walmart, Volkswagen and Berkshire Hathaway. Company owners looking to build a team they trust don’t need to look very far, and enlisting the help of partners, parents, children and siblings can make all the difference. In theory, it’s great. In practice, it’s a different story. Could you work with your family?
Ali Assadkhan knows how to work successfully with siblings. As the founder and one of the owners of Vitasave, started in 2013 and expected to make $50 million in revenue this year, Assadkhan works with his two brothers to run the company. Not only is their business thriving, but Assadkhan and his team successfully transitioned it from a bricks and mortar store to e-commerce-only. Today, the company offers more than 300 brands and 8,000 natural health products.