It was 1977 and at age 20, Debbi Fields opened up her first cookie store in Palo Alto, Calif. It was called "Mrs. Fields Chocolate Chippery."

She was a young mother with no business experience, but somehow young Mrs. Fields convinced a bank to finance a business concept which had no proven track record. She had delicious chocolate chip cookies that she wanted to share with the world, and if everything went according to plan, turn a profit. Sixteen years -- and five daughters -- later she owned a company with approximately 600 stores, $100 million in revenues and a reputation as a business legend. Since then, the successful entrepreneur has expanded from managing one shop to supervising operations, brand name management, public relations and product development of her company.

Debbi has done more than turn a little profit. In 1989 Debbi revolutionized the food retail industry when she made Mrs. Fields, Inc., the first company to take advantage of the advancements in computer technology. She streamlined operations and production schedules using a state-of-the-art computer system. The program was used as a model for business efficiency throughout the food industry and Harvard Business School as a shining example of successful application of technology in business management. The founder, baker, chief cookie lover and former chairman of Mrs. Fields Cookies, a $450 million company, she has since sold her company, which is a market leader among fresh-baked cookie stores.

Bankrate: How did you get your start in business?

Debbi Fields: I literally built the company from scratch. Everybody said I couldn't do it. I didn't have a job, I didn't have money, I didn't have formal education. I just had a recipe and a dream. From 1977 through the mid- to late-1980s, Mrs. Fields Cookies just grew and grew. Other projects developed from the cookie stores such as cookbooks ("100 Recipes from the Kitchen of Debbi Fields" and "I Love Chocolate" cookbook) and I'm also a public speaker and consultant with Mrs. Fields Cookies. I'm also in the process of co-authoring another book, "Service Entropy."

Bankrate: What was the original premise of Mrs. Fields Cookies?

Debbi Fields: Bake a better cookie and the world will nibble a path to your door. The only real difference in the stores from my original is in the look of it. They are now more modern and streamlined.