Apple stock took a hit on April 26, something that was unprecedented for the the soaring company. This was not good in particular for the iPhone, which sales were down. It's hard to know what the solutions will be but under the leadership of Tim Cook, there will likely be a solution in sight.

The following are five leadership tips that Cook likes to use:

Focus

In order to solve issues, a CEO and company have to focus on the problem and come up with the solution. It will be the only way to overcome a bad day or a bad quarter.

"You can focus on things that are barriers or you can focus on scaling the wall or redefining the problem."

Cook also uses this for his personal life as he believes that to be a great leader you have to be focused on your personal life as well.

"I learned that focus is key. Not just in your running a company, but in your personal life as well," he said.

Trust

It's hard to work a company if you can't trust your employees. This is why transparency is important and, this is why in order to be successful at a business, Cook believes delegating work to others is important. He also believes that it is important to hear other opinions and voices because this where new ideas could come from.

Be Humble

Certain times when leaders become too powerful, they forget where they came from. They forget that they are still human and that they are allowed to make mistakes. For Cook, it is important to visit Apple stores to know how they are functioning. Not only will people respect you more but it will make your company run in a better way.

"Not allowing yourself to become insular is very important-maybe the most important thing, I think, as a CEO," he said.

Take risks

It always easier to play safe and know what you do know best. However, that will only work for a certain time period. It will likely not take you very far and instead will continuously make you lose opportunities.

"[W]e take risks knowing that risks will sometimes result in failure, but without the possibility of failure there is no possibility of success," he said. Many companies sometimes fail to take these risks and that is why it is hard to grow a company as large as Apple.

Wake up early

It's important to get a head start in your day and Cook is a great example as he generally likes to get up at 3:45 in the morning to read the paper, go to the gym and respond to emails. This will not only give you more hours in a day but it will help your productivity.

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