.Hi there and invited to Modern chief executive officer! I am actually Stephanie Mehta, CEO and also chief satisfied policeman of Mansueto Ventures. Each week this email list checks out comprehensive methods to leadership drawn from discussions with executives as well as entrepreneurs, and from the webpages of Inc. and Prompt Company. If you acquired this email list from a good friend, you can join to acquire it yourself every Monday morning.Being a chief executive officer in these times is actually hard: Stress include fulfilling shareholders, taking care of rising expenses and also solving ongoing supply-chain issues, and developing excellent workplaces. However, for several executives, being actually an ex-CEO provides its personal set of challenges. Some problem to manage the loss of the benefits as well as condition that come with the job, while others feel obliged to adhere to the well-trodden course to private equity or company boards." Every year, countless managers relinquish long and successful company careers. But handful of are prepared for the experience they are about to plunge into," past Outpost Communications CEO Maggie Wilderotter declared previously this year in a Harvard Service Assessment essay, penciled along with occupation train Rick Johnson as well as headhunter Dennis Carey.Life past MicrosoftOne past business big shot that seems to be to have actually found his footing is previous Microsoft CEO Steve Ballmer. Ballmer acquired the Los Angeles Clippers basketball staff for $2 billion in 2014 as well as merely unveiled the crew's brand-new home, the Intuit Dome. (Fast Provider calls it "Steve Ballmer's $ 2 billion playing field for Los Angeles Clippers fans.") The group and field have actually provided Ballmer a sense of purpose that has, somehow, eclipsed his knowledge at the technician giant. "I have actually worked on a ton of products over the course of my job at Microsoft, and I've enjoyed them all," Ballmer told me during a job interview this month at Intuit Dome before a target market that featured participants of the Youthful Presidents' Institution along with construction workers who helped develop the amenities and also their families. "Yet ... in the growth of the structure, I possibly had a clearer perspective of what I wished to perform, as well as I have the most fulfillment, not even if it thrived, however [due to the fact that] it is actually a financial investment in the area, also." Intuit Dome has quite been actually a passion project for Ballmer, that sought to make certain that all fans possess a superior expertise. Every chair is developed with very easy access to deals and washrooms, phone asking for capabilities, and adequate lower leg room, regardless of ticket price.Ballmer's substantial expenditures are settling. The Clippers gained 51 video games in the 2023-2024 period, and also ended up 4th in the NBA Western Association. (The Dallas Mavericks removed the crew coming from the playoffs.) And Ballmer consistently ranks as being one of the leading NBA owners in follower polls.He is actually an improbable role model for post-CEO life. His retired life coming from Microsoft in 2014 after 34 years at the company and also 13 years as CEO was emotional and also stuffed. Though profits almost tripled during his period, the assets practically stagnated, and the business missed the option to become a player in mobile phones as well as world wide web services. Struggling coming from the business's board, Ballmer found to renew the provider just before eventually deciding he was actually not the best individual to move Microsoft ahead. A press reporter that told his retirement from Microsoft explained him as "really saddening to leave behind the company." CHIEF EXECUTIVE OFFICER, reinventedPart of what creates Ballmer a second-act success tale is that he didn't try to reproduce his business life. Rather, he seized an opportunity to obtain the Clippers after previous co-owner Donald Sterling was actually prohibited from running the team or even associating with the NBA. "Having a lot of choices can cause choice exhaustion, changing to default options, or even staying clear of making a decision entirely," Wilderotter and her co-authors claim, suggesting ex-CEOs to rather redefine their function or even identification. (Ballmer is additionally founder of USAFacts, a nonpartisan information company.) Expense George, the previous Medtronic CEO who recast themself as a management expert after retired life, has actually pointed out that the past CEOs who prosper are the ones that locate methods "to develop or even support factors that will outlast all of them." In the course of our job interview at the field, Ballmer echoed this conviction. "A person informed me once, 'No person ever actually possesses a basketball group. You look after it. You shepherd it, and also you carry it along,'" he mentions. "Intuit Dome could be a bit of what I perform to shepherd this group throughout. Considering that it is actually possessed due to the supporters at the end of the time, as well as our company simply deal with it." Are you a single chief executive officer in a second act?Are you a former CEO that possesses found reason in your second act? Just how did you deal with finding your brand-new identification? Deliver your understandings and also stories to me at stephaniemehta@mansueto.com. I'll share the best convincing examples in a potential newsletter.Read and check out extra: 2nd actions Put on the Most Cutting-edge Companies Awards and be realized as an association steering the world forward via development. Early-rate target date: Friday, August 23.