.Hey there and invited to Modern chief executive officer! I am actually Stephanie Mehta, CEO as well as chief content policeman of Mansueto Ventures. Each week this bulletin checks out broad methods to leadership reasoned chats with executives as well as business owners, as well as from the pages of Inc. and also Prompt Business. If you got this newsletter from a pal, you may subscribe to receive it your own self every Monday morning.Being a CEO at presents is actually hard: Tensions consist of satisfying shareholders, handling climbing costs and dealing with ongoing supply-chain issues, as well as producing excellent place of work. However, for many executives, being actually an ex-CEO shows its own collection of obstacles. Some problem to manage the loss of the rewards as well as standing that come with the task, while others really feel obliged to adhere to the well-trodden pathway to personal equity or corporate panels." Each year, countless execs retire from long and also effective corporate jobs. But few are prepared for the experience they will plunge into," past Outpost Communications chief executive officer Maggie Wilderotter announced previously this year in a Harvard Organization Evaluation essay, penned with occupation trainer Rick Johnson as well as talent scout Dennis Carey.Life beyond MicrosoftOne former company chieftain who seems to have actually discovered his footing is actually former Microsoft CEO Steve Ballmer. Ballmer got the Los Angeles Clippers basketball group for $2 billion in 2014 as well as just unveiled the group's brand-new home, the Intuit Dome. (Prompt Firm calls it "Steve Ballmer's $ 2 billion recreation space for Los Angeles Clippers followers.") The crew and also sector have actually given Ballmer a sense of function that has, in some ways, shrouded his adventures at the technology giant. "I've dealt with a considerable amount of products over the course of my job at Microsoft, as well as I have actually adored all of them all," Ballmer informed me in the course of an interview this month at Intuit Dome facing an audience that consisted of members of the Young Presidents' Institution along with building and construction workers who assisted develop the amenities as well as their households. "However ... in the advancement of the building, I perhaps had a more clear scenery of what I wished to perform, and I possess the most contentment, certainly not even if it thrived, yet [considering that] it's an expenditure in the neighborhood, too." Intuit Dome has actually significantly been actually an enthusiasm project for Ballmer, that sought to make sure that all fans have a superior adventure. Every seat is actually designed along with very easy accessibility to concessions and also washrooms, phone demanding capacities, and substantial lower leg space, regardless of ticket price.Ballmer's considerable assets are settling. The Clippers succeeded 51 activities in the 2023-2024 season, and ended up 4th in the NBA Western Conference. (The Dallas Mavericks did away with the crew coming from the playoffs.) And also Ballmer consistently ranks being one of the top NBA proprietors in supporter polls.He is an improbable shining example for post-CEO life. His retirement from Microsoft in 2014 after 34 years at the firm and also 13 years as chief executive officer was actually emotional and also fraught. Though revenues virtually tripled during his period, the share basically went stale, as well as the provider missed out on the chance to come to be a gamer in smart phones and also world wide web companies. Under the gun coming from the business's panel, Ballmer looked for to remodel the firm before eventually deciding he was certainly not the most ideal person to move Microsoft onward. A reporter who recorded his retirement from Microsoft defined him as "incredibly saddening to leave the provider." CEO, reinventedPart of what helps make Ballmer a second-act excellence account is actually that he failed to choose to recreate his corporate life. Rather, he seized a possibility to obtain the Clippers after previous co-owner Donald Sterling was prohibited coming from running the team or linking with the NBA. "Possessing excessive selections can easily lead to selection fatigue, reverting to skip choices, or even avoiding making a decision entirely," Wilderotter and her co-authors claim, advising ex-CEOs to instead redefine their purpose or even identity. (Ballmer is actually likewise founder of USAFacts, a detached data firm.) Costs George, the previous Medtronic chief executive officer that modify themself as a management guru after retirement life, has stated that the previous Chief executive officers who grow are the ones that locate means "to create or even nourish factors that will certainly outlive all of them." In the course of our meeting at the field, Ballmer echoed this belief. "Someone informed me once, 'Nobody ever truly has a basketball team. You take care of it. You shepherd it, and also you bring it along,'" he says. "Intuit Dome could be a bit of what I perform to shepherd this crew throughout. Due to the fact that it is actually owned due to the supporters by the end of the time, and also we merely care for it." Are you a single chief executive officer in a second act?Are you a previous chief executive officer who has found purpose in your second action? Just how did you tackle locating your brand new identity? Send your ideas and stories to me at stephaniemehta@mansueto.com. I'll share one of the most powerful examples in a potential newsletter.Read as well as see much more: second acts Apply to the absolute most Cutting-edge Companies Honors as well as be acknowledged as an institution steering the planet ahead through advancement. Early-rate due date: Friday, August 23.