.Hi and also invited to Modern chief executive officer! I am actually Stephanie Mehta, chief executive officer and primary satisfied police officer of Mansueto Ventures. Every week this e-newsletter looks into broad techniques to leadership drawn from conversations with executives as well as entrepreneurs, as well as from the webpages of Inc. and Prompt Company. If you acquired this bulletin coming from a friend, you can subscribe to acquire it your own self every Monday morning.Being a chief executive officer at presents is hard: Stress include satisfying investors, taking care of rising prices as well as resolving recurring supply-chain problems, as well as generating wonderful work environments. But also for many executives, being actually an ex-CEO offers its very own collection of challenges. Some problem to manage the loss of the rewards and status that feature the job, while others feel required to observe the well-trodden path to private equity or even business boards." Annually, thousands of execs retire from long and also prosperous corporate careers. Yet couple of are planned for the experience they are about to embark on," previous Outpost Communications chief executive officer Maggie Wilderotter proclaimed earlier this year in a Harvard Organization Evaluation essay, penciled with career coach Rick Johnson and also headhunter Dennis Carey.Life past MicrosoftOne previous corporate big shot that seems to have actually found his ground is actually previous Microsoft chief executive officer Steve Ballmer. Ballmer purchased the Los Angeles Clippers baseball group for $2 billion in 2014 and also just introduced the team's new home, the Intuit Dome. (Rapid Business calls it "Steve Ballmer's $ 2 billion playing field for Los Angeles Clippers enthusiasts.") The group as well as arena have actually provided Ballmer a sense of reason that has, somehow, darkened his knowledge at the specialist titan. "I have actually focused on a lot of items throughout my career at Microsoft, as well as I've loved them all," Ballmer told me throughout a job interview this month at Intuit Dome facing a target market that included participants of the Young Presidents' Association in addition to building workers who assisted develop the location and also their households. "However ... in the growth of the structure, I perhaps had a clearer viewpoint of what I desired to perform, as well as I have the best fulfillment, not just because it prospered, but [due to the fact that] it's a financial investment in the area, also." Intuit Dome has significantly been a passion project for Ballmer, who sought to guarantee that all followers have a superior expertise. Every seat is actually made with very easy accessibility to concessions and also washrooms, phone charging capabilities, and enough lower leg area, irrespective of ticket price.Ballmer's sizable investments are repaying. The Clippers gained 51 activities in the 2023-2024 period, as well as completed 4th in the NBA Western Event. (The Dallas Mavericks eliminated the group coming from the playoffs.) And Ballmer often rates as one of the leading NBA managers in follower polls.He is actually an unexpected good example for post-CEO lifestyle. His retired life coming from Microsoft in 2014 after 34 years at the firm and thirteen years as CEO was emotional and fraught. Though incomes almost tripled during the course of his tenure, the stock essentially stagnated, as well as the firm skipped the option to become a gamer in cell phones and web services. Struggling coming from the business's board, Ballmer sought to renew the business just before essentially choosing he was actually not the best person to relocate Microsoft forward. A press reporter that chronicled his separation from Microsoft described him as "extremely saddening to leave behind the provider." CEO, reinventedPart of what helps make Ballmer a second-act results tale is actually that he failed to try to reproduce his company life. Instead, he confiscated a chance to obtain the Clippers after previous co-owner Donald Sterling was prohibited from operating the crew or even associating with the NBA. "Possessing excessive selections may bring about choice exhaustion, changing to skip choices, or even preventing choosing altogether," Wilderotter and her co-authors claim, urging ex-CEOs to rather redefine their reason or identity. (Ballmer is likewise founder of USAFacts, a detached data business.) Costs George, the previous Medtronic chief executive officer that modify themself as a leadership guru after retirement life, has actually claimed that the previous Chief executive officers who prosper are the ones that locate ways "to produce or nourish factors that are going to outlive all of them." Throughout our meeting at the field, Ballmer echoed this belief. "A person told me the moment, 'No one ever actually has a basketball group. You look after it. You shepherd it, as well as you bring it along,'" he claims. "Intuit Dome can be a small amount of what I perform to shepherd this crew along. Given that it is actually owned by the supporters at the end of the time, as well as our team merely deal with it." Are you a single chief executive officer in a 2nd act?Are you a previous CEO who possesses located purpose in your second act? Just how did you set about locating your brand-new identity? Deliver your ideas as well as anecdotes to me at stephaniemehta@mansueto.com. I'll share the best engaging examples in a potential newsletter.Read and enjoy a lot more: second acts Relate to the absolute most Cutting-edge Business Awards and also be actually recognized as a company steering the globe forward by means of development. Early-rate due date: Friday, August 23.