.Hi as well as appreciated to Modern chief executive officer! I'm Stephanie Mehta, CEO and chief material officer of Mansueto Ventures. Each week this newsletter explores broad methods to management reasoned chats with execs and also business owners, and also coming from the web pages of Inc. and Prompt Business. If you acquired this bulletin from a friend, you can sign up to obtain it yourself every Monday morning.Being a chief executive officer in today times is challenging: Pressures consist of pleasing investors, taking care of climbing expenses and handling ongoing supply-chain concerns, as well as creating wonderful workplaces. However, for numerous managers, being actually an ex-CEO presents its own set of problems. Some battle to manage the reduction of the advantages and also status that possess the work, while others experience obliged to comply with the well-trodden path to exclusive equity or even company boards." Annually, thousands of execs retire from long and also successful company jobs. Yet couple of are organized the trip they will embark on," previous Frontier Communications chief executive officer Maggie Wilderotter proclaimed earlier this year in a Harvard Organization Testimonial essay, penciled along with career instructor Rick Smith as well as talent scout Dennis Carey.Life past MicrosoftOne former corporate big shot that seems to be to have located his footing is previous Microsoft CEO Steve Ballmer. Ballmer purchased the Los Angeles Clippers baseball group for $2 billion in 2014 and simply revealed the team's brand new home, the Intuit Dome. (Fast Company calls it "Steve Ballmer's $ 2 billion playground for Los Angeles Clippers followers.") The group as well as field have given Ballmer a feeling of objective that possesses, in some ways, darkened his experiences at the tech giant. "I've worked with a ton of items throughout my job at Microsoft, and also I have actually loved them all," Ballmer informed me throughout a meeting this month at Intuit Dome facing a reader that consisted of members of the Young Presidents' Association as well as building and construction workers who assisted develop the location and their family members. "Yet ... in the development of this property, I perhaps possessed a clearer view of what I desired to perform, and I possess the absolute most complete satisfaction, not even if it prospered, yet [since] it is actually a financial investment in the community, as well." Intuit Dome has actually very much been actually an enthusiasm task for Ballmer, who found to make certain that all supporters have a superior adventure. Every chair is actually created with simple accessibility to giving ins and restrooms, phone charging abilities, and sufficient lower leg area, irrespective of ticket price.Ballmer's significant financial investments are paying. The Clippers won 51 games in the 2023-2024 season, as well as ended up fourth in the NBA Western Conference. (The Dallas Mavericks got rid of the crew from the playoffs.) And Ballmer regularly places as one of the best NBA managers in follower polls.He is an unexpected shining example for post-CEO lifestyle. His retirement life coming from Microsoft in 2014 after 34 years at the firm as well as 13 years as chief executive officer was emotional as well as laden. Though incomes almost tripled during the course of his tenure, the share practically stood still, and also the provider missed the option to become a player in smart phones and also web companies. Struggling coming from the company's panel, Ballmer looked for to spruce up the provider before ultimately deciding he was actually not the best individual to relocate Microsoft onward. A press reporter that narrated his separation from Microsoft described him as "incredibly unfortunate to leave the firm." CEO, reinventedPart of what produces Ballmer a second-act excellence tale is actually that he really did not attempt to reproduce his corporate life. Rather, he took a chance to get the Clippers after previous co-owner Donald Sterling was actually disallowed from running the crew or connecting with the NBA. "Having way too many selections can easily result in decision tiredness, reverting to default alternatives, or perhaps staying clear of making a decision completely," Wilderotter and her co-authors mention, recommending ex-CEOs to instead redefine their purpose or even identity. (Ballmer is likewise creator of USAFacts, a detached information business.) Expense George, the former Medtronic chief executive officer that recast himself as a leadership authority after retired life, has pointed out that the former CEOs that flourish are actually the ones who find means "to make or even nurture traits that will definitely outlive them." Throughout our interview at the stadium, Ballmer reflected this belief. "Somebody informed me when, 'No person ever before really has a basketball staff. You take care of it. You shepherd it, and also you carry it along,'" he states. "Intuit Dome can be a little of what I carry out to shepherd this staff along. Since it's possessed by the followers by the end of the day, and also our company only deal with it." Are you a single chief executive officer in a 2nd act?Are you a previous chief executive officer who has found objective in your second act? How performed you deal with discovering your brand-new identity? Send your insights as well as anecdotes to me at stephaniemehta@mansueto.com. I'll discuss one of the most compelling examples in a future newsletter.Read and also check out even more: second actions Relate to one of the most Ingenious Firms Awards as well as be actually acknowledged as a company driving the world ahead by means of technology. Early-rate target date: Friday, August 23.