.Hello there as well as welcome to Modern chief executive officer! I am actually Stephanie Mehta, CEO and main material officer of Mansueto Ventures. Each week this e-newsletter looks into inclusive methods to leadership drawn from chats with execs and also business people, as well as from the webpages of Inc. as well as Quick Provider. If you got this email list coming from a good friend, you can register to receive it on your own every Monday morning.Being a CEO in these times is actually tough: Stress include fulfilling investors, managing increasing costs and also addressing recurring supply-chain concerns, as well as developing great work environments. However, for lots of managers, being actually an ex-CEO offers its personal collection of challenges. Some problem to cope with the loss of the rewards and status that feature the work, while others feel obliged to follow the well-trodden course to personal equity or even business panels." Yearly, countless executives retire from long and successful corporate jobs. However handful of are gotten ready for the adventure they are about to start," previous Outpost Communications chief executive officer Maggie Wilderotter proclaimed previously this year in a Harvard Company Testimonial essay, penned along with job instructor Rick Johnson and headhunter Dennis Carey.Life past MicrosoftOne previous company big shot who seems to have discovered his footing is past Microsoft chief executive officer Steve Ballmer. Ballmer got the Los Angeles Clippers basketball crew for $2 billion in 2014 and also only unveiled the team's new home, the Intuit Dome. (Swift Business calls it "Steve Ballmer's $ 2 billion playground for Los Angeles Clippers supporters.") The group as well as field have given Ballmer a feeling of purpose that possesses, in some ways, darkened his experiences at the tech titan. "I have actually worked with a considerable amount of items over the course of my career at Microsoft, as well as I have actually liked all of them all," Ballmer told me throughout a job interview this month at Intuit Dome in front of a target market that consisted of members of the Young Presidents' Organization as well as building and construction laborers who assisted build the amenities and their family members. "Yet ... in the development of this particular structure, I most likely had a more clear sight of what I wanted to carry out, and I possess the best contentment, certainly not even if it turned out well, however [since] it's a financial investment in the community, as well." Intuit Dome has significantly been actually an interest venture for Ballmer, who sought to guarantee that all fans possess a fee adventure. Every chair is actually developed along with very easy accessibility to deals and also restrooms, phone demanding abilities, and enough lower leg room, regardless of ticket price.Ballmer's considerable financial investments are actually repaying. The Clippers won 51 video games in the 2023-2024 season, as well as completed fourth in the NBA Western Event. (The Dallas Mavericks dealt with the crew from the playoffs.) As well as Ballmer consistently positions being one of the leading NBA proprietors in follower polls.He is actually an extremely unlikely role model for post-CEO lifestyle. His retirement life coming from Microsoft in 2014 after 34 years at the business and thirteen years as chief executive officer was actually psychological as well as tangled up. Though earnings almost tripled in the course of his tenure, the share basically went stale, and also the company overlooked the possibility to come to be a player in cell phones as well as world wide web companies. Under pressure from the business's board, Ballmer looked for to spruce up the provider before ultimately choosing he was certainly not the best individual to relocate Microsoft onward. A media reporter that recorded his parting from Microsoft illustrated him as "incredibly depressing to leave the company." CHIEF EXECUTIVE OFFICER, reinventedPart of what produces Ballmer a second-act results tale is that he didn't attempt to reproduce his corporate lifestyle. Somewhat, he took an option to get the Clippers after previous co-owner Donald Sterling was disallowed coming from managing the group or linking with the NBA. "Possessing a lot of options can trigger choice tiredness, going back to fail choices, or perhaps staying away from choosing altogether," Wilderotter and her co-authors say, encouraging ex-CEOs to instead redefine their objective or even identification. (Ballmer is additionally owner of USAFacts, a nonpartisan information firm.) Bill George, the former Medtronic chief executive officer that modify themself as a leadership guru after retirement life, has actually said that the former CEOs that thrive are the ones who locate methods "to make or nurture points that are going to outlast them." During our meeting at the arena, Ballmer resembled this view. "Someone informed me as soon as, 'Nobody ever actually owns a basketball group. You deal with it. You shepherd it, and also you take it along,'" he points out. "Intuit Dome can be a little of what I carry out to shepherd this team along. Given that it's possessed due to the supporters at the end of the time, and our experts just look after it." Are you a single CEO in a 2nd act?Are you a former CEO who possesses discovered purpose in your 2nd act? Just how did you deal with locating your new identification? Send your understandings as well as narratives to me at stephaniemehta@mansueto.com. I'll discuss the best compelling instances in a future newsletter.Read as well as watch much more: 2nd actions Relate to the best Impressive Business Honors and also be acknowledged as an association steering the world ahead through development. Early-rate deadline: Friday, August 23.