Early Life
Scott David Cook was born in Glendale, California, in 1952. He earned a Bachelor's degree in economics and mathematics from the University of Southern California and later obtained an MBA from Harvard Business School. Prior to his entrepreneurial journey, Cook began his career at Procter & Gamble, where he gained valuable experience in product development, market research, and marketing. He subsequently worked in strategic consulting at Bain & Company.
Rise to Success
Cook co-founded Intuit in 1983 with Tom Proulx. The idea for Intuit came about when Cook observed his wife struggling with household finances. He recognized the potential of personal computers to simplify financial management. This led to the creation of Quicken, a software program designed to make personal finance easier. Intuit quickly expanded its product line, launching QuickBooks for small businesses and TurboTax for tax preparation, solidifying its position in the financial software industry. Cook served as Intuit's President and CEO from 1983 to 1994 and as Chairman from 1993 to 1998.
Key Business Strategies
Intuit's success is attributed to Cook's focus on customer-centric design and user-friendly software. He prioritized making financial tools accessible to non-financial professionals. Intuit's strategy included aggressive marketing and acquiring complementary businesses, such as the tax preparation software company ChipSoft, and Credit Karma and Mailchimp more recently. Furthermore, Intuit's strategy includes adapting to the internet era, launching online financial tools and services, setting the stage for dominance in digital tax preparation and online banking.
Philanthropy
Scott Cook and his wife, Signe Ostby, are actively involved in philanthropy through the Valhalla Foundation. The foundation supports early childhood development, K-12 education, medical research and talent, environmental innovation, and collaborative philanthropy. They also established the Center for Brand and Product Management at the University of Wisconsin–Madison School of Business, demonstrating their commitment to education and innovation.
