.Hi there as well as appreciated to Modern chief executive officer! I am actually Stephanie Mehta, chief executive officer and also chief satisfied policeman of Mansueto Ventures. Each week this email list looks into comprehensive approaches to leadership reasoned conversations along with executives as well as entrepreneurs, and also from the web pages of Inc. as well as Fast Company. If you acquired this e-newsletter coming from a close friend, you can enroll to acquire it your own self every Monday morning.Being a chief executive officer nowadays is actually difficult: Stress consist of satisfying investors, taking care of climbing costs and addressing on-going supply-chain concerns, and generating excellent place of work. However, for lots of executives, being an ex-CEO offers its own set of problems. Some struggle to handle the loss of the perks as well as condition that come with the task, while others really feel obliged to follow the well-trodden course to private equity or even business boards." Each year, thousands of managers retire from lengthy and successful company careers. However handful of are prepared for the experience they will plunge into," former Frontier Communications CEO Maggie Wilderotter declared earlier this year in a Harvard Company Evaluation essay, penned with profession trainer Rick Smith and headhunter Dennis Carey.Life past MicrosoftOne previous business big shot that seems to have located his ground is actually past Microsoft CEO Steve Ballmer. Ballmer acquired the Los Angeles Clippers baseball group for $2 billion in 2014 and also only unveiled the group's new home, the Intuit Dome. (Prompt Firm calls it "Steve Ballmer's $ 2 billion playground for LA Clippers enthusiasts.") The group as well as arena have actually given Ballmer a sense of function that has, somehow, darkened his experiences at the tech giant. "I've worked on a lot of products over the course of my profession at Microsoft, and also I have actually liked them all," Ballmer informed me during an interview this month at Intuit Dome facing a reader that featured members of the Youthful Presidents' Organization in addition to building laborers who aided construct the center and their families. "Yet ... in the progression of the building, I most likely had a more clear view of what I would like to perform, and I have the best total satisfaction, certainly not just because it prospered, however [given that] it's a financial investment in the community, too." Intuit Dome has significantly been actually an interest venture for Ballmer, who sought to guarantee that all supporters possess a costs adventure. Every seat is designed along with very easy accessibility to giving ins and also restrooms, phone demanding abilities, and sufficient lower leg room, regardless of ticket price.Ballmer's sizable expenditures are actually repaying. The Clippers gained 51 video games in the 2023-2024 season, and completed fourth in the NBA Western Event. (The Dallas Mavericks removed the group coming from the playoffs.) And Ballmer routinely ranks as being one of the top NBA proprietors in enthusiast polls.He is actually a not likely role model for post-CEO lifestyle. His retirement coming from Microsoft in 2014 after 34 years at the firm and 13 years as CEO was actually mental as well as filled. Though revenues nearly tripled in the course of his tenure, the equity generally stood still, and also the provider overlooked the possibility to come to be a player in mobile devices and also net services. Under pressure from the provider's panel, Ballmer looked for to overhaul the firm before eventually deciding he was actually certainly not the most ideal individual to move Microsoft ahead. A reporter who recorded his separation from Microsoft defined him as "really saddening to leave behind the company." CHIEF EXECUTIVE OFFICER, reinventedPart of what produces Ballmer a second-act results story is that he failed to try to reproduce his company life. Rather, he took possession of a possibility to obtain the Clippers after previous co-owner Donald Sterling was actually disallowed coming from operating the crew or even linking with the NBA. "Possessing too many choices may cause selection exhaustion, going back to skip alternatives, or maybe avoiding making a decision altogether," Wilderotter as well as her co-authors point out, advising ex-CEOs to as an alternative redefine their objective or identity. (Ballmer is actually likewise founder of USAFacts, a nonpartisan information provider.) Expense George, the former Medtronic CEO that modify themself as a management master after retirement, has actually said that the previous Chief executive officers who thrive are the ones that find means "to produce or nourish factors that will definitely outlast them." During the course of our interview at the arena, Ballmer echoed this feeling. "Someone informed me the moment, 'Nobody ever before definitely has a basketball team. You take care of it. You shepherd it, and you bring it along,'" he says. "Intuit Dome could be a little bit of what I perform to shepherd this team along. Because it is actually possessed by the fans by the end of the day, as well as our experts simply take care of it." Are you an one-time CEO in a second act?Are you a past chief executive officer that possesses discovered objective in your second act? Just how performed you go about locating your brand-new identification? Send your ideas and also anecdotes to me at stephaniemehta@mansueto.com. I'll discuss the best convincing examples in a potential newsletter.Read and also view even more: 2nd acts Relate to the best Cutting-edge Business Awards as well as be actually recognized as an association driving the planet forward via advancement. Early-rate target date: Friday, August 23.