.Hello there as well as invited to Modern chief executive officer! I'm Stephanie Mehta, chief executive officer as well as primary material policeman of Mansueto Ventures. Each week this bulletin discovers broad techniques to leadership drawn from conversations along with executives and also entrepreneurs, and also coming from the pages of Inc. as well as Fast Firm. If you received this newsletter from a good friend, you can register to obtain it yourself every Monday morning.Being a chief executive officer these days is actually challenging: Pressures include pleasing investors, taking care of rising costs and also handling continuous supply-chain concerns, and generating excellent place of work. But for lots of executives, being actually an ex-CEO shows its very own collection of challenges. Some struggle to manage the loss of the advantages and status that come with the job, while others feel obliged to comply with the well-trodden road to personal equity or even company panels." Yearly, lots of managers retire from long and prosperous business jobs. But handful of are prepared for the trip they will embark on," previous Outpost Communications chief executive officer Maggie Wilderotter stated earlier this year in a Harvard Business Assessment essay, penciled with job trainer Rick Johnson and talent scout Dennis Carey.Life beyond MicrosoftOne former corporate chieftain who appears to have located his footing is actually past Microsoft CEO Steve Ballmer. Ballmer purchased the Los Angeles Clippers baseball crew for $2 billion in 2014 as well as merely revealed the group's brand new home, the Intuit Dome. (Prompt Business calls it "Steve Ballmer's $ 2 billion play ground for LA Clippers followers.") The group and also arena have actually given Ballmer a sense of reason that has, somehow, darkened his knowledge at the specialist titan. "I have actually focused on a considerable amount of products throughout my job at Microsoft, as well as I have actually enjoyed all of them all," Ballmer told me in the course of an interview this month at Intuit Dome before an audience that featured participants of the Youthful Presidents' Company along with building employees who aided create the location and their family members. "However ... in the development of this particular building, I most likely had a more clear sight of what I would like to do, and I have one of the most satisfaction, certainly not even if it prospered, yet [given that] it's a financial investment in the community, too." Intuit Dome has actually significantly been actually a passion task for Ballmer, who found to ensure that all enthusiasts have a fee adventure. Every seat is actually designed along with simple accessibility to giving ins and also washrooms, phone charging functionalities, and also ample lower leg room, irrespective of ticket price.Ballmer's sizable expenditures are paying. The Clippers gained 51 activities in the 2023-2024 period, and also finished fourth in the NBA Western Association. (The Dallas Mavericks did away with the staff coming from the playoffs.) And Ballmer consistently rates as being one of the top NBA proprietors in fan polls.He is actually a not likely good example for post-CEO lifestyle. His retirement life coming from Microsoft in 2014 after 34 years at the firm and also thirteen years as chief executive officer was actually mental and also tangled up. Though incomes virtually tripled in the course of his tenure, the share essentially stagnated, and the company overlooked the possibility to become a gamer in smart phones and also internet companies. Under the gun from the firm's board, Ballmer sought to renew the provider before inevitably making a decision he was actually not the greatest individual to move Microsoft ahead. A media reporter who narrated his retirement from Microsoft defined him as "very saddening to leave behind the provider." CEO, reinventedPart of what produces Ballmer a second-act excellence account is actually that he really did not try to reproduce his company lifestyle. Somewhat, he confiscated a chance to get the Clippers after previous co-owner Donald Sterling was disallowed from running the team or even linking with the NBA. "Possessing excessive options may result in decision tiredness, going back to skip alternatives, and even steering clear of making a decision completely," Wilderotter and her co-authors mention, encouraging ex-CEOs to as an alternative redefine their reason or identification. (Ballmer is actually additionally founder of USAFacts, a detached information business.) Costs George, the former Medtronic chief executive officer that recast himself as a management expert after retirement, has actually mentioned that the past CEOs who thrive are the ones that find methods "to generate or even nourish traits that will definitely outlast all of them." Throughout our job interview at the arena, Ballmer echoed this feeling. "Someone informed me as soon as, 'Nobody ever before truly possesses a baseball group. You take care of it. You shepherd it, as well as you deliver it along,'" he mentions. "Intuit Dome could be a little of what I perform to shepherd this group along. Because it is actually possessed by the followers by the end of the time, and also we simply look after it." Are you an one-time chief executive officer in a 2nd act?Are you a former chief executive officer that has found purpose in your 2nd act? Exactly how did you handle discovering your brand new identity? Send your knowledge and anecdotes to me at stephaniemehta@mansueto.com. I'll discuss the most convincing instances in a potential newsletter.Read and check out even more: 2nd process Apply to the Most Innovative Firms Awards and be identified as a company driving the planet onward with advancement. Early-rate deadline: Friday, August 23.