Hi there! Thanks for reaching out! The bad news is that you're coming from the toughest demographic out there when it comes to b-school apps (as I'm sure you know) and it's also one that tends to have very high GMAT scores (740+ for schools like Haas & Booth). Generally speaking you want a score that's ~30 points above a school's average if you are an Indian male coming from a technical background. In your case your score is actually BELOW the average for Haas & Booth, which will make them a solid reach. The fact that you've got some US work experience will help for sure, but you're still going to be compared to the other Indian tech guys.
All that said, the good news is that you have family business post-MBA goals. The adcom LOVES family business applicants. When you're a family business applicant 1) you've got a guaranteed job, which is great for their employment stats and 2) you're likely to go on to have big impact right away -- since it's a family business you will likely secure a more senior position than most people would at your age.
So that will lessen the importance of the GMAT, but it will still be important to score ~730 if possible if you want to target schools like Haas & Booth. With your 710 I think you do have a shot at Tepper (they tend to admit more Indian males with technical backgrounds in my experience) as well as schools like Emory, UT Austin, UW & UNC. It would still be great to improve your GMAT if you can -- you're right around the overall average right now, but a bit below the likely average for the Indian male applicant pool. But even if you can't land a score higher than 710, you'll still have a good shot at these schools given the family business angle.
That said, it will still be critical to do everything you can in your app to differentiate yourself, and you'll want to tell a strong clear story re your vision for the family business & the impact you plan to have there. The GMAT is important but is just one piece of the puzzle. It's important for every applicant to tell a story that helps them stand out, but especially when you are coming from a competitive demographic.
If you need any help thinking through your story or your strategy, feel free to reach out to us. If you email Claudia at
claudia@admissionado.com she can set you up with a free consultation with one of our MBA consultants who can take a look at your resume & give you some more detailed thoughts!