Pull up after taking the lead from Steve Cram (4)
I believe the answer is:
swot
'cram' is the definition.
(both can mean to study intensely)
'pull up after taking the lead from steve' is the wordplay.
'pull' becomes 'tow' (tow is a kind of pull).
'up' shows that the letters should be reversed in order (in down clue: letters go upwards).
'after' is a charade indicator (letters next to each other).
'taking the lead from' says to take the initial letters.
The initial letter of 'steve' is 's'.
'tow' written backwards gives 'wot'.
'wot' put after 's' is 'SWOT'.
(Other definitions for swot that I've seen before include "Excessively studious pupil" , "Study assiduously" , "Informally, one who studies hard" , "Hard worker" , "Hard-working student" .)