.Hi as well as welcome to Modern chief executive officer! I'm Stephanie Mehta, chief executive officer and chief material policeman of Mansueto Ventures. Every week this email list looks into inclusive techniques to leadership drawn from conversations along with executives as well as business people, and also from the web pages of Inc. and also Swift Firm. If you obtained this email list coming from a friend, you may enroll to get it your own self every Monday morning.Being a chief executive officer at presents is hard: Tensions include delighting shareholders, dealing with rising costs as well as handling recurring supply-chain concerns, as well as creating terrific work environments. But for lots of managers, being an ex-CEO provides its personal set of challenges. Some battle to deal with the loss of the advantages and also condition that feature the project, while others feel required to follow the well-trodden path to exclusive equity or even corporate panels." Each year, hundreds of managers retire from lengthy and prosperous business careers. But couple of are organized the quest they will embark on," previous Outpost Communications CEO Maggie Wilderotter announced earlier this year in a Harvard Company Review essay, penciled with profession instructor Rick Johnson and also headhunter Dennis Carey.Life beyond MicrosoftOne previous company big shot that seems to be to have actually discovered his footing is actually former Microsoft CEO Steve Ballmer. Ballmer purchased the Los Angeles Clippers basketball crew for $2 billion in 2014 and only unveiled the staff's brand new home, the Intuit Dome. (Quick Provider calls it "Steve Ballmer's $ 2 billion playground for LA Clippers fans.") The group and sector have given Ballmer a sense of objective that possesses, somehow, darkened his adventures at the specialist giant. "I have actually worked with a great deal of products over the course of my job at Microsoft, and I have actually adored all of them all," Ballmer informed me in the course of an interview this month at Intuit Dome in front of a reader that featured participants of the Young Presidents' Organization along with construction laborers who assisted build the establishment and their households. "However ... in the advancement of this property, I probably possessed a clearer scenery of what I wished to perform, and I possess the absolute most total satisfaction, not just because it thrived, but [considering that] it's a financial investment in the neighborhood, also." Intuit Dome has quite been actually an enthusiasm job for Ballmer, who looked for to make certain that all supporters have a fee expertise. Every seat is created with simple accessibility to concessions and shower rooms, phone asking for functionalities, and also plenty of lower leg area, regardless of ticket price.Ballmer's sizable financial investments are actually repaying. The Clippers gained 51 video games in the 2023-2024 period, and also ended up 4th in the NBA Western Association. (The Dallas Mavericks got rid of the staff from the playoffs.) And Ballmer regularly rates being one of the best NBA managers in fan polls.He is actually an unlikely role model for post-CEO life. His retirement coming from Microsoft in 2014 after 34 years at the company as well as thirteen years as chief executive officer was actually mental and also tangled up. Though incomes almost tripled during the course of his period, the share essentially went stale, and the business skipped the possibility to end up being a gamer in smart phones and net services. Under the gun coming from the provider's board, Ballmer sought to overhaul the company just before eventually deciding he was certainly not the greatest individual to relocate Microsoft ahead. A reporter that recorded his retirement from Microsoft described him as "extremely unfortunate to leave behind the business." CEO, reinventedPart of what creates Ballmer a second-act effectiveness tale is that he failed to try to recreate his company lifestyle. Somewhat, he confiscated a possibility to get the Clippers after previous co-owner Donald Sterling was prohibited coming from managing the team or even connecting with the NBA. "Possessing a lot of selections can easily result in choice exhaustion, going back to fail options, and even steering clear of deciding entirely," Wilderotter as well as her co-authors say, suggesting ex-CEOs to rather redefine their reason or identity. (Ballmer is additionally founder of USAFacts, a nonpartisan data business.) Costs George, the past Medtronic CEO who modify himself as a management expert after retirement life, has actually pointed out that the past CEOs that flourish are actually the ones that find means "to generate or even support things that will definitely outlive all of them." During our meeting at the arena, Ballmer echoed this sentiment. "A person informed me as soon as, 'No one ever truly has a basketball group. You look after it. You shepherd it, and you deliver it along,'" he states. "Intuit Dome could be a little of what I perform to shepherd this crew throughout. Due to the fact that it is actually possessed due to the enthusiasts at the end of the day, as well as our team just deal with it." Are you a single chief executive officer in a 2nd act?Are you a former CEO that possesses found purpose in your 2nd act? Exactly how performed you engage in discovering your brand-new identification? Send your knowledge and also anecdotes to me at stephaniemehta@mansueto.com. I'll discuss one of the most engaging examples in a potential newsletter.Read and also see more: second process Put on the Most Ingenious Business Awards and also be realized as a company steering the planet ahead through innovation. Early-rate deadline: Friday, August 23.