Aaron Chin - My Ceiling is Your Floor - 2nd Gen Leader of Canadian Health Business [The Business of Family]
The Business of FamilyShow Notes
Aaron Chin is a second-generation business leader and CEO of Organika, a family-led Canadian company dedicated to providing innovative, premium health products to help inspire people to live healthier lives.
Growing up in the business motivated Aaron to build on what his father started 30 years ago. Since assuming leadership of Organika, in partnership with his brother Jordan, they have increased business seven-fold and have grown the company into an award-winning, globally recognized brand, focusing on innovation and a vibrant company culture.
Standout Quotes:
"You start with the mission of the company and that'll help drive your decisions after". - [Aaron]
"If you can tweak one little thing in your process that could save you 30minutes...do it". - [Aaron]
"You are going to determine yourself, how well you do". - [Aaron]
"I really do believe there's nothing like good old hard work". - [Aaron]
"My relationship with my brother is bigger than the business... I think I can pass that down to my kids" - [Aaron]
Key Takeaways:
Aaron's dad had the dream when he moved from Malaysia to Canada to give his kids a chance to get ice cream whenever they wanted.
Following the treatment of his kidney stones using natural products, he started the business with a vision to make healthcare accessible for all.
Despite the rejection, his father persistently put himself and his products out there, till the business took off.
Aaron shares he always had an interest in the family business although his father never tried to impose any expectations to join.
Aaron narrates a simple experience where he noticed the boss employed by his father to manage the business got to the office one morning, and deleted all his office voicemails without listening to any one, inciting Aaron's suspicion of the poor management inherent in the business.
Realizing the diet differences between the newer and older generation, the company pivoted from mostly vitamin pills to be more involved in superfoods, powders, drink mixes.
The surprising eventuality of Aaron becoming CEO in an Asian family where he is the younger brother and always at odds with his older brother, was partly made possible by the family dynamic which started to work out following certain events that strengthened the bond between them.
Aaron shares his vision for the company: I want to see us in every single home in Canada.
Explaining that his dad wasn't overprotective but rather allowed them to make mistakes, and these mistakes helped them learn how to make fast and efficient decisions.
The question: What are you doing about it?
If you teach children what wealth means, it's rather thoughtful to leave wealth for them, but if not then it's just an expectation, and things could go wrong.
To Aaron's kids: Know the importance of Family because it is more important than even the business
Episode Timeline:
[00:49] Meet today's guest "Aaron Chin".
[01:25] Where did the family business begin, and how do you become involved in this story?
[07:40] About Aaron's entry into the business: Was it always an expectation or some other circumstance?
[16:09] Describing the business today.
[19:55] How did the leadership transition come about?
[24:40] Being the younger brother in an Asian family, how did you arrive at the CEO role?
[27:15] What sort of investment process did you go through, and how did you formalize the business?
[33:33] Would you say the company culture remains unchanged or has it morphed as a result of the impact of Private Equity coming in?
[37:45] Aaron shares major lessons learned by trying things and making mistakes at the beginning
[38:50] Is there a multi-generational plan to continue the legacy that your father started?
[41:03] How do you feel about children inheriting wealth?
[42:39] Aaron's letter to his kids.
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