1. Dave Thomas, Founder of Wendy's

2. Sol Price, Founder of Price Club (merged with Costco)

3. Mary Kay, Founder of Mary Kay cosmetics

Dave taught me this in his book "Dave's Way", and I never forgot it:

" You cannot forget the basics of business. The salad bar is not Midas turning everything to gold. If you stray from the basics of your business you're in trouble."

What he meant by the salad bar, was that there was a time in the food industry where healthy foods, including salad bars, were in vogue. The board may have thought that adding a salad bar would be the pizaz that would revamp the enterprise. But Dave repeatedly reminds us that the basics—a clean bathroom, fast service, good food, smudge-free windows— were the real non-negotiables that could not be sacrificed in return for the shinier initiative.

"Get on top of the basic numbers. (4-5 measures that really make a difference.) Focus on those." Dave wrote.

His contributions to lowering prices for Americans, as well as his overall business ethos, makes him a revolutionary and admirable figure in history.

Sol was honest, competitive, and worked on behalf of others.

"If you want to be successful in retail, just put yourself in the place of a cranky, demanding customer. In other words, see your business through the eyes of a customer."

"You had a duty to be very very honest and fair with them so we avoided sales and advertising."

"The best advertising is by our members... the unsolicited testimonials of the satisfied customer."

To understand the legacy of Sol Price, I think it's important to understand the context of retail before he came and changed it. Retail stores in the 1900s consisted of department stores (full service, high margins, high prices) and variety stores (small, low-cost items, smaller selection).

Sol pioneered a retail model that rolled over more value than ever before to its customers: the lowest margins of any retailer, no-frills layouts, and trust in the customer as shown through the most generous return policy. He basically opened up direct-from-manufacturer pricing with just enough margin to keep the business growing. While this may seem obviously profitable now, imagine at the time investing in a large building with lots of inventory and pricing the items at just a 10-15% more than what you bought it for. As a retailer myself, I can assure you that there is a fear you have to fight against as a business owner to try to capture more margins for yourself by passing on costs to the customer. Sol remind us that if you work on behalf of the customer, the customer will repay you with their loyalty and word-of-mouth.

Mary Kay created a cosmetics empire with both her products and her empowering approach to bringing women to join in on her business's successes.

While referred to as multi-level marketing today, her brand followed a simple approach: Mary Kay beauty consultants could buy inventory and sell directly to people in their communities, through try-on parties or consulations. They would also receive commission from products of other recruited consultants they had brought in. This distribution model made powerful use of local communities and the ambition of women in the late 1900s. Mary Kay was a genius at creating incentives and empowering women of hidden talents and shy personalities to join in on a business-minded life.

Pretend that every single person you meet has a sign around his or her neck that says, "Make me feel important."

What you believe, you can achieve.

There are two things people want more than sex and money.. recognition and praise.