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11 Leadership Lessons We Can Learn From Tim Cook

11 Leadership Lessons We Can Learn From Tim Cook

All eyes were on Apple CEO Tim Cook after he took over from the iconic and masterful Steve Jobs. People did not believe he possessed the necessary leadership qualities required to help Apple continue as a tech powerhouse. We have quickly realized that this is not the case and Tim Cook is more than capable of taking Apple to the next level.

Leadership requires skills that you must continue to refine as you progress through your career. To help you do that, here are 11 leadership lessons we can learn from Tim Cook.

1. Take risks.

The life of a leader is not an easy one. At times leaders must make extremely difficult decisions that can affect the lives of those around them. Although it’s difficult, you must be able to trust in your ability to take risks.

Tim Cook understands he must take risks in order to succeed. He believes that “[w]e take risks knowing that risks will sometimes result in failure, but without the possibility of failure there is no possibility of success.”

Without the confidence to take calculated risks, it will be almost impossible to have the full support of those around you.

2. Focus and listen attentively to those you speak to.

Steve Jobs was always a boisterous and unique individual, while Tim Cook is far quieter and reserved. This may be because he is focused and listening attentively to what those around him are saying. Saeed Magahsooloo, a professor from Auburn University said, “I hardly ever saw him asking questions. He sat quietly and studied.” The moment you notice your mind starting to drift away from the conversation, you should focus and take down the key points.

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The old adage goes, you have two ears and one mouth, use them in that proportion. This is a lesson from Tim Cook that should be implemented by anyone with the goal of becoming a great leader.

3. Trust others around you.

Tim Cook is known as a leader who will trust the opinions and voices of the team he surrounds himself with.

He is fortunate to have many top executives that can help share the workload of the business. He understands these individuals are successful people with innovative and brilliant ideas, and will often allow these executives to take the lead. Philip W. Schiller, the senior vice president of marketing at Apple, has turned the image and sales around during his 14 year tenure with Apple. Mr Schiller made an impact on the company because Mr. Cook allowed him to do so.

Part of being a leader is understanding that you don’t know everything, and handing some of the workload to others on your team will go a long way in helping you become a successful leader.

4. Diversity is important.

Apple is a company at the forefront of innovation, and that requires different minded and unique individuals to help create the future.

Tim Cook, as a leader of a company that is founded on innovation, understands he needs thinkers who can offer a different insight. “We want diversity of thought,” he said in a recent interview with Businessweek. “We want diversity of style. We want people to be themselves.”

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Bringing the best out of people is not a quality many leaders possess and working on refining this skill will give people the confidence to follow your lead.

5. Be humble.

Never forget where you came from. Tim Cook manages to find the time to visit his Apple stores and engage with his customers, either face-to-face or by reading their emails.

It’s easy to get swept away when you are CEO of the biggest company in the world and it’s important to keep yourself grounded. During the interview Tim Cook did with Businessweek, he said, “Not allowing yourself to become insular is very important–maybe the most important thing, I think, as a CEO.” Staying humble will give you the respect of your employees and is a quality that is necessary to becoming a great leader.

6. Admit when you’re wrong.

Strong leaders need to understand when they are wrong and admit it so that they can move forward.

Tim Cook strongly believes in admitting when you are wrong. Mr. Cook spoke about Steve Jobs and his ability to admit wrongs to Businessweek. He said, “Maybe the most under-appreciated thing about Steve was that he had the courage to change his mind. And you know–it’s a talent. It’s a talent.”

This is a strong lesson in leadership, having the courage to admit when you are wrong and avoiding the mistakes of the past.

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7. Do what you do and do it well.

Apple is a company that is built around doing what they do and doing it well. It may be shocking to believe, but Apple really only creates a few products.

Tim Cook stresses that this focus is a key to Apple’s continued success. “I mean, if you really look at it, we have four iPods. We have two main iPhones. We have two iPads, and we have a few Macs. That’s it.” Mr. Cook is patient and understands that new and unique ideas will come. In the meantime, Apple focuses on improving its foundation and the products people love.

8. Believe in what you’re doing and take actions that reflect that.

To truly be a great leader you must believe in yourself and trust that you are making the right decisions. Your actions also must reflect the belief you have in yourself and this is a key attribute of Tim Cook.

Many people are unaware just how much Tim Cook believes in himself to make the right decision. According to Fox Business, when Apple’s stock was tanking, Mr. Cook chose to forfeit up to one third of his stock-based compensation (nearly $130 million over 8 years) if the stock under-performed the S&P 500. There was no fine print; he chose to lead by example and put his money where his mouth is.

9. Be you and don’t pretend to be anyone else.

Succeeding as a leader does not mean you have to give up being who you are in the process. Staying true to yourself and being the same person will help you become a strong leader. After all, that’s what got you there.

Many believed Tim Cook didn’t have the right personality to complete the role as Apple CEO successfully, because of his calm and passive demeanor. But he has more than proved he is the right man for the job. While Steve Jobs was a far more aggressive individual, Tim Cook has not changed to fit the mold of CEO before him; he has stayed true to himself and is completing the job with his own strengths.

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10. Write your own rules.

If you truly want to excel as a leader you must write your own rules. You will struggle to find continued success if you lead based on the confines of a textbook. You will rarely find real life scenarios and problems following those in textbooks.

During a Q & A at Duke University, Tim Cook mentioned you must “write your own rules”. If you do everything in a formulated manner, then the best you can do is reach the same position as everybody else. It is a strong lesson in leadership, knowing when to follow the rules and when to throw them away.

11. Be transparent.

Tim Cook knows that transparency is crucial to sustained success. Upon receiving harsh criticism about the standards of Apple’s global employees, he decided to open up the doors to the public and allow them to see how Apple’s operation really works. By doing this he instilled confidence for those in the company and set new industry standards for manufacturers everywhere.

“We want to be as innovative with supply responsibility as we are with our products. That’s a high bar. The more transparent we are, the more it’s in the public space,” Mr. Cook said to Businessweek. Being transparent is a solid foundation for leadership.

Tim Cook has been an inspiration to many people since taking the role as Apple CEO. His approach to leadership is admirable and his lessons can teach us all how to build a solid foundation as a leader.

Featured photo credit: Apple CEO Tim Cook/Mike Deerkoski via flickr.com

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Last Updated on January 6, 2021

14 Ideas on How to Measure Productivity to Make Progress

14 Ideas on How to Measure Productivity to Make Progress

Everyone has heard the term productivity, and people talk about it in terms of how high it is and how to improve it. But fewer know how to measure productivity, or even what exactly we are talking about when using the term “productivity.”

In its simplest form, the productivity formula looks like this: Output ÷ Input = Productivity.

For example, you have two salespeople each making 10 calls to customers per week. The first one averages 2 sales per week and the second one averages 3 sales per week. By plugging in the numbers we get the following productivity levels for each sales person.

For salesperson one, the output is 2 sales and the input is 10 sales: 2 ÷ 10 = .2 or 20% productivity. For salesperson two, the output is 3 sales and the input is 10 sales: 3 ÷ 10 = .3 or 30% productivity.

Knowing how to measure and interpret productivity is an invaluable asset for any manager or business owner in today’s world. As an example, in the above scenario, salesperson #1 is clearly not doing as well as salesperson #2.

Knowing this information we can now better determine what course of action to take with salesperson #1.

Some possible outcomes might be to require more in-house training for that salesperson, or to have them accompany the more productive salesperson to learn a better technique. It might be that salesperson #1 just isn’t suited for sales and would do a better job in a different position.

How to Measure Productivity With Management Techniques

Knowing how to measure productivity allows you to fine tune your business by minimizing costs and maximizing profits:

1. Identify Long and Short-Term Goals

Having a good understanding of what you (or your company’s) goals are is key to measuring productivity.

For example, if your company’s goal is to maximize market share, you’ll want to measure your team’s productivity by their ability to acquire new customers, not necessarily on actual sales made.

2. Break Down Goals Into Smaller Weekly Objectives

Your long-term goal might be to get 1,000 new customers in a year. That’s going to be 20 new customers per week. If you have 5 people on your team, then each one needs to bring in 4 new customers per week.

Now that you’ve broken it down, you can track each person’s productivity week-by-week just by plugging in the numbers:

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Productivity = number of new customers ÷ number of sales calls made

3. Create a System

Have you ever noticed that whenever you walk into a McDonald’s, the French fry machine is always to your left? 

This is because McDonald’s created a system. They have determined that the most efficient way to set up a kitchen is to always have the French fry machine on the left when you walk in.

You can do the same thing and just adapt it to your business.

Let’s say that you know that your most productive salespeople are making the most sales between the hours of 3 and 7 pm. If the other salespeople are working from 9 am to 4 pm, you can potentially increase productivity through something as simple as adjusting the workday.

Knowing how to measure productivity allows you to set up, monitor, and fine tune systems to maximize output.

4. Evaluate, Evaluate, Evaluate!

We’ve already touched on using these productivity numbers to evaluate and monitor your employees, but don’t forget to evaluate yourself using these same measurements.

If you have set up a system to track and measure employees’ performance, but you’re still not meeting goals, it may be time to look at your management style. After all, your management is a big part of the input side of our equation.

Are you more of a carrot or a stick type of manager? Maybe you can try being more of the opposite type to see if that changes productivity. Are you managing your employees as a group? Perhaps taking a more one-on-one approach would be a better way to utilize each individual’s strengths and weaknesses.

Just remember that you and your management style contribute directly to your employees’ productivity.

5. Use a Ratings Scale

Having clear and concise objectives for individual employees is a crucial part of any attempt to increase workplace productivity. Once you have set the goals or objectives, it’s important that your employees are given regular feedback regarding their progress.

Using a ratings scale is a good way to provide a standardized visual representation of progress. Using a scale of 1-5 or 1-10 is a good way to give clear and concise feedback on an individual basis.

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It’s also a good way to track long-term progress and growth in areas that need improvement.

6. Hire “Mystery Shoppers”

This is especially helpful in retail operations where customer service is critical. A mystery shopper can give feedback based on what a typical customer is likely to experience.

You can hire your own shopper, or there are firms that will provide them for you. No matter which route you choose, it’s important that the mystery shoppers have a standardized checklist for their evaluation.

You can request evaluations for your employees friendliness, how long it took to greet the shopper, employees’ knowledge of the products or services, and just about anything else that’s important to a retail operation.

7. Offer Feedback Forms

Using a feedback form is a great way to get direct input from existing customers. There are just a couple of things to keep in mind when using feedback forms.

First, keep the form short, 2-3 questions max with a space for any additional comments. Asking people to fill out a long form with lots of questions will significantly reduce the amount of information you receive.

Secondly, be aware that customers are much more likely to submit feedback forms when they are unhappy or have a complaint than when they are satisfied.

You can offset this tendency by asking everyone to take the survey at the end of their interaction. This will increase compliance and give you a broader range of customer experiences, which will help as you’re learning how to measure productivity.

8. Track Cost Effectiveness

This is a great metric to have, especially if your employees have some discretion over their budgets. You can track how much each person spends and how they spend it against their productivity.

Again, this one is easy to plug into the equation: Productivity = amount of money brought in ÷ amount of money spent.

Having this information is very useful in forecasting expenses and estimating budgets.

9. Use Self-Evaluations

Asking your staff to do self evaluations can be a win-win for everyone. Studies have shown that when employees feel that they are involved and their input is taken seriously, morale improves. And as we all know, high employee morale translates into higher productivity.

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Using self-evaluations is also a good way to make sure that the employees and employers goals are in alignment.

10. Monitor Time Management

This is the number one killer of productivity in the workplace. Time spent browsing the internet, playing games, checking email, and making personal calls all contribute to lower productivity[1].

Time Management Tips to Improve Productivity

    The trick is to limit these activities without becoming overbearing and affecting morale. Studies have shown that most people will adhere to rules that they feel are fair and applied to everyone equally.

    While ideally, we may think that none of these activities should be done on company time, employees will almost certainly have a different opinion. From a productivity standpoint, it is best to have policies and rules that are seen as fair to both sides as you’re learning how to measure productivity.

    11. Analyze New Customer Acquisition

    We’ve all heard the phrase that “It’s more expensive to get a new customer than it is to keep an existing one.” And while that is very true, in order for your business to keep growing, you will need to continually add new customers.

    Knowing how to measure productivity via new customer acquisition will make sure that your marketing dollars are being spent in the most efficient way possible. This is another metric that’s easy to plug into the formula: Productivity = number of new customers ÷ amount of money spent to acquire those customers.

    For example, if you run any kind of advertising campaign, you can compare results and base your future spending accordingly.

    Let’s say that your total advertising budget is $3,000. You put $2,000 into television ads, $700 into radio ads, and $300 into print ads. When you track the results, you find that your television ad produced 50 new customers, your radio ad produced 15 new customers, and your print ad produced 9 new customers.

    Let’s plug those numbers into our equation. Television produced 50 new customers at a cost of $2,000 (50 ÷ 2000 = .025, or a productivity rate of 2.5%). The radio ads produced 15 new customers and cost $700 (15 ÷ 700 = .022, or a 2.2% productivity rate). Print ads brought in 9 new customers and cost $300 (9 ÷ 300 = .03, or a 3% return on productivity).

    From this analysis, it is clear that you would be getting the biggest bang for your advertising dollar using print ads.

    12. Utilize Peer Feedback

    This is especially useful when people who work in teams or groups. While self-assessments can be very useful, the average person is notoriously bad at assessing their own abilities.

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    Just ask a room full of people how many consider themselves to be an above average driver and you’ll see 70% of the hands go up[2]! Now we clearly know that in reality about 25% of drivers are below average, 25% are above average, and 50% are average.

    Are all these people lying? No, they just don’t have an accurate assessment of their own abilities.

    It’s the same in the workplace. Using peer feedback will often provide a more accurate assessment of a person’s ability than a self-assessment would.

    13. Encourage Innovation and Don’t Penalize Failure

    When it comes to productivity, encouraging employee input and adopting their ideas can be a great way to boost productivity. Just make sure that any changes you adopt translate into higher productivity.

    Let’s say that someone comes to you requesting an entertainment budget so that they can take potential customers golfing or out to dinner. By utilizing simple productivity metrics, you can easily produce a cost benefit analysis and either expand the program to the rest of the sales team, or terminate it completely.

    Either way, you have gained valuable knowledge and boosted morale by including employees in the decision-making process.

    14. Use an External Evaluator

    Using an external evaluator is the pinnacle of objective evaluations. Firms that provide professional evaluations use highly trained personnel that even specialize in specific industries.

    They will design a complete analysis of your business’ productivity level. In their final report, they will offer suggestions and recommendations on how to improve productivity.

    While the benefits of a professional evaluation are many, their costs make them prohibitive for most businesses.

    Final Thoughts

    These are just a few of the things you can do when learning how to measure productivity. Some may work for your particular situation, and some may not.

    The most important thing to remember when deciding how to track productivity is to choose a method consistent with your goals. Once you’ve decided on that, it’s just a matter of continuously monitoring your progress, making minor adjustments, and analyzing the results of those adjustments.

    The business world is changing fast, and having the right tools to track and monitor your productivity can give you the edge over your competition.

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    Featured photo credit: William Iven via unsplash.com

    Reference

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