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Here is All step with image. please follow it properly and i am sure you will not get any error.

From How to install CocoaPods and setup with your Xcode project.

First of all check you have to install command line or not.

You can check this by opening Xcode, navigating the menu to

 Xcode > Preferences > Downloads > Components, finding Command Line Tools and select install/update. 

if you haven't find command line tool then you need to write this command in terminal. xcode-select --install

and click on install

if you have install command line tool. you need to select your Xcode directory (Sometimes this type of problems created due to different versions of Xcode available) follow this procedure.

Open terminal and run this command:

sudo gem install cocoapods 

Enter admin password. This could take a while. After few minutes it will show green message is cocoa pods installed successfully in your mac machine.

If you are getting any error with Xcode 6 like developer path is missing. First run this command in terminal:

sudo xcode-select -switch /Applications/Xcode6.app (or your XCodeName.app)

Now you can setup Pod with your Xcode project.

and now you have to install pod. follow this procedure.

1. Open Terminal

2. Change directory to your Xcode project root directory (where your ProjectName.xcodeproj file is placed).

3. $ pod setup  : (Setting up CocoaPods master repo)

If successful, it shows  : Setup completed (read-only access). So, you setup everything. Now Lets do something which is more visible…Yes  ! Lets install libraries in your Xcode project.

now you have to setup and update library related to pod in your project.

Steps to add-remove-update libraries in pod:

1. Open Terminal

2. Change directory to your Xcode project root directory. If your terminal is already running then no need to do this, as you are already at same path.

3. $ touch pod file

4. $ open -e podfile (This should open a blank text file)

5. Add your library names in that text file. You can add new names (lib name), remove any name or change the version e.g  :

   pod ’Facebook-iOS-SDK’ pod ’EGOTableViewPullRefresh’ pod ’JSONKit’ pod ‘MBProgressHUD 

NOTE: Use ( control + ” ) button to add single quote at both end of library name. It should be shown as straight vertical line. Without control button it shall be added as curly single quote which will give error while installation of file.

6. Save and close this text file. Now libraries are setup and you have to install/update it

7. Go to your terminal again and run this command:  $ pod install (to install/update these libraries in pod).

You should see output similar to the following:

Updating spec repo `master’ Installing Facebook-iOS-SDK Generating support files 

Note:-

If you have followed this whole procedure correctly and step by step  , then you can directly fire pod update command after selecting Xcode and then select your project path. and write your command pod update

EDIT :-

you can also check command line tool here.

Here are all steps with an image. Please follow it properly and I am sure you will not get any error.

From How to install CocoaPods and setup with your Xcode project.

First of all, check you have to install command line or not.

You can check this by opening Xcode, navigating the menu to

Xcode → Preferences → Downloads → Components. Find Command Line Tools and select install/update.

If you haven't found command line tool then you need to write this command in the terminal:

xcode-select --install 

And click on install.

If you have installed the command-line tool, you need to select your Xcode directory (sometimes these type of problems created due to different versions of Xcode available)

Follow this procedure.

Open terminal and run this command:

sudo gem install cocoapods 

Enter the admin password. This could take a while. After a few minutes, it will show a green message if CocoaPods installed successfully in your Mac machine.

If you are getting any error with Xcode 6 like developer path is missing. First run this command in terminal:

sudo xcode-select -switch /Applications/Xcode6.app (or your XCodeName.app)

Now you can set up Pod with your Xcode project.

And now you have to install pod. Follow this procedure.

1. Open Terminal

2. Change directory to your Xcode project root directory (where your ProjectName.xcodeproj file is placed).

3. pod setup: (Setting up the CocoaPods master repository)

If successful, it shows: Setup completed (read-only access). So, you set up everything. Now let’s do something which is more visible…Yes! Let’s install libraries in your Xcode project.

Now you have to set up and update the library related to pod in your project.

Steps to add-remove-update libraries in pod:

1. Open Terminal

2. Change directory to your Xcode project root directory. If your terminal is already running then there isn't any need to do this, as you are already at the same path.

3. touch pod file

4. open -e podfile (This should open a blank text file)

5. Add your library names in that text file. You can add new names (library name), remove any name or change the version, e.g.:

   pod ’Facebook-iOS-SDK’ pod ’EGOTableViewPullRefresh’ pod ’JSONKit’ pod ‘MBProgressHUD 

NOTE: Use the (control + ”) button to add single quote at both end of library name. It should be shown as straight vertical line. Without control button it shall be added as curly single quote which will give error while installation of file.

6. Save and close this text file. Now libraries are set up and you have to install/update it

7. Go to your terminal again and run this command: pod install (to install/update these libraries in pod).

You should see output similar to the following:

Updating spec repo `master’ \ Installing Facebook-iOS-SDK \ Generating support files 

Note:

If you have followed this whole procedure correctly and step by step, then you can directly fire the pod update command after selecting Xcode and then select your project path. And write your command pod update.

You can also check a command line tool here:

Open terminal and run this command:

sudo gem install cocoapods 

Enter admin password. This could take a while. After few minutes it will show green message is cocoa pods installed successfully in your mac machine.

If you are getting any error with XCode6 like developer path is missing. First run this command in terminal:

sudo xcode-select -switch /Applications/Xcode6.app (or your XCodeName.app)

Now you can setup Pod with your Xcode project.

1)Open Terminal

2. Change directory to your XCode project root directory (where your ProjectName.xcodeproj file is placed).

3. $ pod setup : (Setting up CocoaPods master repo)

If successful, it shows : Setup completed (read-only access). So, you setup everything. Now Lets do something which is more visible…Yes ! Lets install libraries in your Xcode project.

Steps to add-remove-update libraries in pod:

1. Open Terminal

2. Change directory to your XCode project root directory. If your terminal is already running then no need to do this, as you are already at same path.

3. $ touch pod file

4. $ open -e podfile (This should open a blank text file)

5. Add your library names in that text file. You can add new names (lib name), remove any name or change the version e.g :

   pod ’Facebook-iOS-SDK’ pod ’EGOTableViewPullRefresh’ pod ’JSONKit’ pod ‘MBProgressHUD 

NOTE: Use ( control + ” ) button to add single quote at both end of library name. It should be shown as straight vertical line. Without control button it shall be added as curly single quote which will give error while installation of file.

6. Save and close this text file. Now libraries are setup and you have to install/update it

7. Go to your terminal again and run this command: $ pod install (to install/update these libraries in pod).

You should see output similar to the following:

Updating spec repo `master’ Installing Facebook-iOS-SDK Generating support files 

 If you have followed this whole procedure correctly and step by step , then you can directly fire `pod update` command after selecting `Xcode` and then select your project path. and write your command `pod update` 

Open terminal and run this command:

sudo gem install cocoapods 

Enter admin password. This could take a while. After few minutes it will show green message is cocoa pods installed successfully in your mac machine.

If you are getting any error with Xcode 6 like developer path is missing. First run this command in terminal:

sudo xcode-select -switch /Applications/Xcode6.app (or your XCodeName.app)

Now you can setup Pod with your Xcode project.

1. Open Terminal

2. Change directory to your Xcode project root directory (where your ProjectName.xcodeproj file is placed).

3. $ pod setup : (Setting up CocoaPods master repo)

If successful, it shows : Setup completed (read-only access). So, you setup everything. Now Lets do something which is more visible…Yes ! Lets install libraries in your Xcode project.

Steps to add-remove-update libraries in pod:

1. Open Terminal

2. Change directory to your Xcode project root directory. If your terminal is already running then no need to do this, as you are already at same path.

3. $ touch pod file

4. $ open -e podfile (This should open a blank text file)

5. Add your library names in that text file. You can add new names (lib name), remove any name or change the version e.g :

   pod ’Facebook-iOS-SDK’ pod ’EGOTableViewPullRefresh’ pod ’JSONKit’ pod ‘MBProgressHUD 

NOTE: Use ( control + ” ) button to add single quote at both end of library name. It should be shown as straight vertical line. Without control button it shall be added as curly single quote which will give error while installation of file.

6. Save and close this text file. Now libraries are setup and you have to install/update it

7. Go to your terminal again and run this command: $ pod install (to install/update these libraries in pod).

You should see output similar to the following:

Updating spec repo `master’ Installing Facebook-iOS-SDK Generating support files 

If you have followed this whole procedure correctly and step by step , then you can directly fire pod update command after selecting Xcode and then select your project path. and write your command pod update

You can check this by opening Xcode, navigating the menu to

 Xcode > Preferences > Downloads > Components, finding Command Line Tools and select install/update. 

if you have install command line tool. you need to select your Xcode directory (Sometimes this type of problems created due to different versions of Xcode available) follow this procedure.

Open terminal and run this command:

sudo gem install cocoapods 

Enter admin password. This could take a while. After few minutes it will show green message is cocoa pods installed successfully in your mac machine.

If you are getting any error with XCode6 like developer path is missing. First run this command in terminal:

sudo xcode-select -switch /Applications/Xcode6.app (or your XCodeName.app)

Now you can setup Pod with your Xcode project.

1)Open Terminal

2. Change directory to your XCode project root directory (where your ProjectName.xcodeproj file is placed).

3. $ pod setup : (Setting up CocoaPods master repo)

If successful, it shows : Setup completed (read-only access). So, you setup everything. Now Lets do something which is more visible…Yes ! Lets install libraries in your Xcode project.

now you have to setup and update library related to pod in your project.

Steps to add-remove-update libraries in pod:

1. Open Terminal

2. Change directory to your XCode project root directory. If your terminal is already running then no need to do this, as you are already at same path.

3. $ touch pod file

4. $ open -e podfile (This should open a blank text file)

5. Add your library names in that text file. You can add new names (lib name), remove any name or change the version e.g :

   pod ’Facebook-iOS-SDK’ pod ’EGOTableViewPullRefresh’ pod ’JSONKit’ pod ‘MBProgressHUD 

NOTE: Use ( control + ” ) button to add single quote at both end of library name. It should be shown as straight vertical line. Without control button it shall be added as curly single quote which will give error while installation of file.

6. Save and close this text file. Now libraries are setup and you have to install/update it

7. Go to your terminal again and run this command: $ pod install (to install/update these libraries in pod).

You should see output similar to the following:

Updating spec repo `master’ Installing Facebook-iOS-SDK Generating support files 

Note: For Full source and for better understand you can check this link .

http://blogs.triffort.com/?p=309

From How to install CocoaPods and setup with your Xcode project.

You can check this by opening Xcode, navigating the menu to

 Xcode > Preferences > Downloads > Components, finding Command Line Tools and select install/update. 

if you have install command line tool. you need to select your Xcode directory (Sometimes this type of problems created due to different versions of Xcode available) follow this procedure.

Open terminal and run this command:

sudo gem install cocoapods 

Enter admin password. This could take a while. After few minutes it will show green message is cocoa pods installed successfully in your mac machine.

If you are getting any error with XCode6 like developer path is missing. First run this command in terminal:

sudo xcode-select -switch /Applications/Xcode6.app (or your XCodeName.app)

Now you can setup Pod with your Xcode project.

1)Open Terminal

2. Change directory to your XCode project root directory (where your ProjectName.xcodeproj file is placed).

3. $ pod setup : (Setting up CocoaPods master repo)

If successful, it shows : Setup completed (read-only access). So, you setup everything. Now Lets do something which is more visible…Yes ! Lets install libraries in your Xcode project.

now you have to setup and update library related to pod in your project.

Steps to add-remove-update libraries in pod:

1. Open Terminal

2. Change directory to your XCode project root directory. If your terminal is already running then no need to do this, as you are already at same path.

3. $ touch pod file

4. $ open -e podfile (This should open a blank text file)

5. Add your library names in that text file. You can add new names (lib name), remove any name or change the version e.g :

   pod ’Facebook-iOS-SDK’ pod ’EGOTableViewPullRefresh’ pod ’JSONKit’ pod ‘MBProgressHUD 

NOTE: Use ( control + ” ) button to add single quote at both end of library name. It should be shown as straight vertical line. Without control button it shall be added as curly single quote which will give error while installation of file.

6. Save and close this text file. Now libraries are setup and you have to install/update it

7. Go to your terminal again and run this command: $ pod install (to install/update these libraries in pod).

You should see output similar to the following:

Updating spec repo `master’ Installing Facebook-iOS-SDK Generating support files