Three decades ago, John Paul DeJoria (co-founder and ceo of John Paul Mitchell Systems) was living in his car when he and his pal Paul Mitchell (then an artistic director at Vidal Sassoon) decided to invest $750 and found a company devoted to creating innovative products and tools for hairstylists. The company’s first product launch was Hair Sculpting Lotion, a water-based, body-boosting, shine-enhancing styling liquid laced with panthenol and wheat-derived conditioners to smooth strands while reducing static. The lotion was originally created for styling finger waves, but Mitchell foresaw its potential as a universal product for use on all hair types, textures and styles. He was right. The product and the brand took off and today Paul Mitchell is the largest privately held salon hair care line in the world with profits of $900 million. Hair Sculpting Lotion is still a bestseller and, at $7 a bottle, a bargain for a breakthrough styler.