.Hi there as well as welcome to Modern chief executive officer! I'm Stephanie Mehta, CEO and chief satisfied police officer of Mansueto Ventures. Each week this bulletin checks out inclusive techniques to leadership drawn from conversations along with executives and business owners, and also from the web pages of Inc. and also Prompt Business. If you received this e-newsletter from a pal, you can easily subscribe to acquire it on your own every Monday morning.Being a chief executive officer at presents is hard: Stress feature delighting shareholders, taking care of rising expenses and dealing with recurring supply-chain concerns, and also developing fantastic place of work. But also for many managers, being actually an ex-CEO presents its own collection of obstacles. Some struggle to cope with the loss of the perks and also status that possess the work, while others experience obliged to adhere to the well-trodden path to private equity or business boards." Each year, lots of execs retire from long as well as effective company jobs. But few are actually gotten ready for the journey they are about to plunge into," past Outpost Communications chief executive officer Maggie Wilderotter announced previously this year in a Harvard Organization Assessment essay, penciled along with job instructor Rick Smith as well as talent scout Dennis Carey.Life beyond MicrosoftOne former business big shot who seems to be to have located his footing is previous Microsoft CEO Steve Ballmer. Ballmer acquired the Los Angeles Clippers basketball staff for $2 billion in 2014 as well as just revealed the team's brand-new home, the Intuit Dome. (Fast Company calls it "Steve Ballmer's $ 2 billion play ground for LA Clippers fans.") The team and field have actually given Ballmer a feeling of reason that possesses, somehow, darkened his knowledge at the tech titan. "I've worked on a great deal of items throughout my job at Microsoft, and also I've enjoyed them all," Ballmer informed me in the course of a meeting this month at Intuit Dome facing a viewers that included members of the Young Presidents' Company and also construction workers who assisted build the amenities as well as their family members. "But ... in the progression of this particular structure, I probably had a more clear viewpoint of what I desired to do, and I have the most fulfillment, not even if it turned out well, however [due to the fact that] it is actually an expenditure in the neighborhood, too." Intuit Dome has very much been a passion project for Ballmer, who looked for to ensure that all supporters have a premium knowledge. Every seat is made with easy access to giving ins and also washrooms, phone demanding capacities, as well as sufficient lower leg space, regardless of ticket price.Ballmer's significant expenditures are settling. The Clippers gained 51 video games in the 2023-2024 season, and ended up 4th in the NBA Western Association. (The Dallas Mavericks got rid of the team coming from the playoffs.) And Ballmer routinely positions being one of the leading NBA owners in fan polls.He is actually an unlikely shining example for post-CEO lifestyle. His retired life coming from Microsoft in 2014 after 34 years at the company and 13 years as chief executive officer was psychological and stuffed. Though revenues almost tripled throughout his tenure, the assets essentially went stale, as well as the business skipped the opportunity to end up being a gamer in mobile devices as well as web solutions. Struggling from the provider's board, Ballmer looked for to revamp the company just before ultimately making a decision he was certainly not the most effective individual to move Microsoft onward. A media reporter that narrated his departure from Microsoft explained him as "quite unfortunate to leave the business." CEO, reinventedPart of what produces Ballmer a second-act effectiveness account is actually that he didn't choose to reproduce his corporate life. Somewhat, he took a chance to get the Clippers after previous co-owner Donald Sterling was actually banned from running the team or relating to the NBA. "Having a lot of options may result in selection exhaustion, reverting to default options, or even staying clear of choosing completely," Wilderotter as well as her co-authors point out, recommending ex-CEOs to rather redefine their function or even identity. (Ballmer is additionally creator of USAFacts, a nonpartisan records provider.) Costs George, the past Medtronic chief executive officer who modify themself as a management expert after retirement life, has claimed that the former CEOs that prosper are actually the ones that discover means "to produce or even nurture traits that are going to outlive them." During our job interview at the stadium, Ballmer echoed this view. "Someone told me as soon as, 'No one ever before definitely possesses a baseball team. You take care of it. You shepherd it, and you bring it along,'" he claims. "Intuit Dome could be a small amount of what I do to shepherd this crew along. Since it is actually possessed by the followers in the end of the day, as well as our experts simply look after it." Are you a single CEO in a second act?Are you a former CEO that possesses found reason in your second action? Just how did you go about locating your new identification? 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 enjoy a lot more: second acts Apply to one of the most Ingenious Business Awards and also be actually realized as an organization steering the globe onward via development. Early-rate target date: Friday, August 23.