.Hi there as well as welcome to Modern chief executive officer! I am actually Stephanie Mehta, chief executive officer and chief content policeman of Mansueto Ventures. Each week this newsletter checks out comprehensive strategies to leadership drawn from talks along with execs and also entrepreneurs, and coming from the webpages of Inc. and Fast Business. If you received this bulletin coming from a good friend, you may join to acquire it yourself every Monday morning.Being a CEO nowadays is actually hard: Tensions consist of satisfying investors, dealing with rising expenses as well as solving continuous supply-chain problems, and also developing fantastic offices. However, for many executives, being actually an ex-CEO offers its very own set of problems. Some struggle to deal with the loss of the perks as well as condition that include the work, while others experience required to follow the well-trodden course to exclusive equity or even corporate panels." Every year, countless execs retire from long and productive corporate professions. Yet handful of are actually planned for the quest they will start," former Frontier Communications CEO Maggie Wilderotter declared earlier this year in a Harvard Service Customer review essay, penciled with profession trainer Rick Johnson and also talent scout Dennis Carey.Life beyond MicrosoftOne previous business big shot that seems to have actually found his footing is actually former Microsoft chief executive officer Steve Ballmer. Ballmer got the Los Angeles Clippers baseball staff for $2 billion in 2014 and merely unveiled the staff's brand-new home, the Intuit Dome. (Prompt Business calls it "Steve Ballmer's $ 2 billion playground for Los Angeles Clippers enthusiasts.") The staff and field have provided Ballmer a feeling of objective that possesses, in some ways, shrouded his experiences at the technology giant. "I've serviced a great deal of items throughout my profession at Microsoft, as well as I've adored all of them all," Ballmer informed me during a meeting this month at Intuit Dome in front of an audience that included members of the Youthful Presidents' Organization in addition to building workers that aided develop the establishment and also their households. "Yet ... in the progression of this building, I possibly had a clearer scenery of what I wanted to carry out, as well as I have the most satisfaction, not even if it thrived, but [given that] it's a financial investment in the neighborhood, as well." Intuit Dome has actually significantly been actually an enthusiasm venture for Ballmer, that found to ensure that all enthusiasts have a superior expertise. Every seat is designed with effortless access to deals and also restrooms, phone charging abilities, and plenty of leg space, irrespective of ticket price.Ballmer's considerable financial investments are paying. The Clippers won 51 games in the 2023-2024 season, as well as completed 4th in the NBA Western Association. (The Dallas Mavericks dealt with the crew coming from the playoffs.) As well as Ballmer routinely positions being one of the best NBA owners in follower polls.He is actually an improbable shining example for post-CEO lifestyle. His retired life coming from Microsoft in 2014 after 34 years at the business and 13 years as CEO was mental and also stuffed. Though revenues almost tripled in the course of his tenure, the stock generally went stale, and the firm skipped the option to come to be a gamer in mobile phones and world wide web services. Under the gun from the business's board, Ballmer sought to spruce up the firm prior to essentially choosing he was certainly not the very best individual to relocate Microsoft onward. A press reporter that narrated his departure from Microsoft explained him as "very saddening to leave the provider." CHIEF EXECUTIVE OFFICER, reinventedPart of what helps make Ballmer a second-act excellence story is actually that he failed to try to reproduce his business life. Rather, he seized an option to obtain the Clippers after previous co-owner Donald Sterling was actually prohibited coming from running the team or associating with the NBA. "Possessing way too many selections can easily result in choice tiredness, returning to fail possibilities, or even steering clear of choosing entirely," Wilderotter as well as her co-authors mention, suggesting ex-CEOs to rather redefine their purpose or identity. (Ballmer is actually also founder of USAFacts, a nonpartisan information business.) Bill George, the previous Medtronic CEO that recast themself as a management authority after retirement life, has said that the former CEOs that thrive are actually the ones who locate techniques "to generate or even nourish points that are going to outlive all of them." Throughout our job interview at the arena, Ballmer echoed this sentiment. "Somebody informed me as soon as, 'Nobody ever before really possesses a baseball crew. You handle it. You shepherd it, and you carry it along,'" he says. "Intuit Dome can be a small amount of what I carry out to shepherd this staff throughout. Because it is actually owned by the followers at the end of the day, and also we only deal with it." Are you an one-time chief executive officer in a second act?Are you a previous CEO that has found purpose in your 2nd act? How performed you handle discovering your brand-new identity? Send your understandings and narratives to me at stephaniemehta@mansueto.com. I'll share the absolute most powerful examples in a potential newsletter.Read and also see more: 2nd process Relate to the best Impressive Business Awards as well as be actually identified as an organization driving the globe forward via advancement. Early-rate due date: Friday, August 23.