Thanks bakfed. Your post gave me a good idea about where I stand. As far as the stint in family business is concerned. I had to join it during my college years itself, as my father had an accident. He was unwell most of the time so I had to join in. I don't know whether this would change the way adcoms think abt it. Even during that stint I not only handled the product line which was present but also diversified. Added various new products nd developed a market for the same subsequently. I can get good recos confirming the same. Will that be of any help?
Anything would help, really. I'm not saying that people who go into family business aren't 'worthy' or 'deserving' to go to a top b-school (hope I didn't offend you). Anything that you describe about your family business will help the adcoms better gauge your ability to lead. The only reason I'm mentioning about family business because students didn't have to go through the same vigorous interview as those who worked for a corporate job. Not only that, family tends to cut you some slack and there's rarely a case for parents to fire their own kids. I'm sure there are plenty of other reasons that basically made AdComs a bit more weary about family businesses. However, anything that you have to share (or should share) with the adcoms, you shouldn't be afraid to say it. Anything that can help diversify your own profile is a positive thing. So yes, to answer your question, yes it'll help.