.Hi there and welcome to Modern chief executive officer! I'm Stephanie Mehta, CEO as well as chief content policeman of Mansueto Ventures. Weekly this e-newsletter discovers comprehensive methods to leadership drawn from chats with execs as well as business people, and also from the web pages of Inc. and also Rapid Provider. If you got this newsletter from a pal, you can enroll to obtain it your own self every Monday morning.Being a CEO nowadays is actually challenging: Pressures consist of fulfilling shareholders, managing increasing costs as well as handling ongoing supply-chain problems, and generating wonderful workplaces. But also for a lot of managers, being actually an ex-CEO shows its very own collection of difficulties. Some problem to manage the loss of the rewards as well as standing that come with the project, while others experience obliged to follow the well-trodden path to exclusive equity or even corporate panels." Yearly, hundreds of managers relinquish long as well as prosperous corporate careers. However few are actually prepared for the trip they will embark on," former Outpost Communications chief executive officer Maggie Wilderotter declared previously this year in a Harvard Company Testimonial essay, penciled along with job trainer Rick Johnson as well as headhunter Dennis Carey.Life beyond MicrosoftOne past business tribal chief that seems to have located his footing is actually past Microsoft chief executive officer Steve Ballmer. Ballmer purchased the Los Angeles Clippers baseball team for $2 billion in 2014 and simply unveiled the group's brand new home, the Intuit Dome. (Swift Provider calls it "Steve Ballmer's $ 2 billion playing field for Los Angeles Clippers supporters.") The team and also arena have actually offered Ballmer a feeling of purpose that has, in some ways, eclipsed his experiences at the tech titan. "I've worked on a great deal of products over the course of my occupation at Microsoft, and I have actually enjoyed them all," Ballmer told me during an interview this month at Intuit Dome before a reader that consisted of members of the Youthful Presidents' Institution in addition to development workers who helped construct the location and also their households. "Yet ... in the growth of this particular property, I perhaps had a more clear viewpoint of what I wished to do, as well as I possess the most contentment, not even if it prospered, but [due to the fact that] it's an expenditure in the area, also." Intuit Dome has very much been an enthusiasm venture for Ballmer, that found to guarantee that all fans possess a fee knowledge. Every chair is actually designed with very easy accessibility to deals and also washrooms, phone charging capacities, and also ample lower leg room, despite ticket price.Ballmer's considerable investments are settling. The Clippers succeeded 51 activities in the 2023-2024 season, and finished fourth in the NBA Western Event. (The Dallas Mavericks eliminated the team coming from the playoffs.) And Ballmer routinely places as being one of the leading NBA managers in fan polls.He is actually an unexpected role model for post-CEO lifestyle. His retired life coming from Microsoft in 2014 after 34 years at the firm and 13 years as CEO was actually emotional and stuffed. Though incomes virtually tripled during the course of his tenure, the equity basically went stale, and also the provider skipped the opportunity to end up being a gamer in cell phones and internet companies. Struggling coming from the provider's board, Ballmer sought to remodel the company before essentially deciding he was actually certainly not the most ideal individual to relocate Microsoft ahead. A press reporter that told his departure from Microsoft defined him as "extremely unfortunate to leave behind the business." CEO, reinventedPart of what creates Ballmer a second-act effectiveness story is actually that he really did not choose to recreate his business life. Rather, he took a chance to get the Clippers after previous co-owner Donald Sterling was actually banned from running the group or even linking with the NBA. "Possessing too many options can cause decision exhaustion, returning to default choices, or even preventing deciding entirely," Wilderotter as well as her co-authors say, recommending ex-CEOs to instead redefine their reason or even identity. (Ballmer is actually likewise founder of USAFacts, a nonpartisan data provider.) Bill George, the previous Medtronic chief executive officer that modify themself as a leadership expert after retirement life, has actually pointed out that the past CEOs that thrive are the ones that locate techniques "to make or nourish traits that are going to outlive them." During the course of our interview at the field, Ballmer resembled this belief. "A person informed me once, 'Nobody ever before really owns a basketball group. You handle it. You shepherd it, and also you carry it along,'" he points out. "Intuit Dome can be a little bit of what I perform to shepherd this crew throughout. Due to the fact that it is actually possessed by the followers by the end of the day, as well as our company just take care of it." Are you an one-time chief executive officer in a second act?Are you a past CEO that possesses located purpose in your second process? How did you go about discovering your brand new identity? Deliver your understandings and narratives to me at stephaniemehta@mansueto.com. I'll discuss the most powerful instances in a future newsletter.Read as well as view more: 2nd acts Apply to the best Impressive Providers Awards and be acknowledged as an organization driving the globe ahead via development. Early-rate deadline: Friday, August 23.