.Hi as well as invited to Modern chief executive officer! I am actually Stephanie Mehta, CEO and also chief material officer of Mansueto Ventures. Each week this bulletin checks out comprehensive strategies to leadership drawn from discussions along with managers and entrepreneurs, as well as from the web pages of Inc. as well as Rapid Company. If you received this email list from a good friend, you can easily subscribe to get it your own self every Monday morning.Being a CEO at presents is actually tough: Stress include fulfilling shareholders, handling climbing prices as well as dealing with ongoing supply-chain issues, and creating excellent work environments. But also for several execs, being actually an ex-CEO shows its own collection of problems. Some battle to handle the loss of the perks as well as status that possess the job, while others feel obliged to observe the well-trodden path to exclusive equity or company panels." Annually, countless execs retire from lengthy and prosperous business occupations. Yet handful of are actually prepared for the experience they will embark on," past Outpost Communications chief executive officer Maggie Wilderotter proclaimed previously this year in a Harvard Company Review essay, penned along with occupation instructor Rick Johnson and also headhunter Dennis Carey.Life beyond MicrosoftOne previous business big shot that seems to have found his ground is previous Microsoft CEO Steve Ballmer. Ballmer purchased the Los Angeles Clippers basketball crew for $2 billion in 2014 and also merely unveiled the team's brand-new home, the Intuit Dome. (Fast Provider calls it "Steve Ballmer's $ 2 billion recreation space for Los Angeles Clippers enthusiasts.") The crew and also arena have offered Ballmer a sense of objective that has, somehow, overshadowed his adventures at the specialist giant. "I have actually dealt with a great deal of products throughout my occupation at Microsoft, and also I have actually adored them all," Ballmer informed me throughout a job interview this month at Intuit Dome in front of a target market that included members of the Young Presidents' Association along with building laborers who helped create the location as well as their households. "Yet ... in the development of the property, I possibly possessed a clearer scenery of what I wanted to carry out, and also I possess the absolute most contentment, certainly not just because it thrived, however [considering that] it is actually an investment in the community, as well." Intuit Dome has actually very much been actually an interest task for Ballmer, that found to make certain that all followers possess a premium adventure. Every chair is made with effortless accessibility to giving ins and also bathrooms, phone asking for abilities, and also adequate lower leg space, irrespective of ticket price.Ballmer's considerable investments are actually paying off. The Clippers gained 51 video games in the 2023-2024 time, as well as completed 4th in the NBA Western Association. (The Dallas Mavericks removed the crew from the playoffs.) And Ballmer often ranks being one of the best NBA proprietors in supporter polls.He is actually an unexpected good example for post-CEO life. His retirement life from Microsoft in 2014 after 34 years at the firm as well as thirteen years as chief executive officer was emotional and also laden. Though profits almost tripled during the course of his period, the assets essentially stagnated, and also the business missed the possibility to come to be a player in mobile phones and web companies. Struggling coming from the provider's board, Ballmer sought to remodel the business before essentially determining he was actually not the most ideal individual to move Microsoft onward. A press reporter that chronicled his parting from Microsoft defined him as "very sad to leave behind the company." CEO, reinventedPart of what produces Ballmer a second-act success tale is actually that he didn't try to recreate his corporate life. Instead, he seized an option to obtain the Clippers after previous co-owner Donald Sterling was prohibited coming from managing the group or connecting with the NBA. "Having a lot of selections can easily result in selection fatigue, reverting to fail choices, and even preventing choosing entirely," Wilderotter as well as her co-authors say, recommending ex-CEOs to as an alternative redefine their function or even identity. (Ballmer is additionally owner of USAFacts, a nonpartisan records business.) Expense George, the previous Medtronic chief executive officer that modify himself as a leadership authority after retirement life, has mentioned that the former Chief executive officers that prosper are actually the ones who locate means "to make or even nurture things that will outlive all of them." During our job interview at the arena, Ballmer echoed this view. "A person told me once, 'No one ever definitely owns a basketball staff. You take care of it. You shepherd it, as well as you carry it along,'" he mentions. "Intuit Dome could be a bit of what I do to shepherd this crew throughout. Since it's possessed by the enthusiasts by the end of the time, and our team merely care for it." Are you a single CEO in a second act?Are you a previous CEO who possesses discovered reason in your second action? Just how did you set about finding your brand new identification? Send your understandings and anecdotes to me at stephaniemehta@mansueto.com. I'll discuss the best convincing instances in a potential newsletter.Read and watch much more: second actions Apply to one of the most Ingenious Firms Honors and also be actually recognized as an institution driving the globe onward through development. Early-rate deadline: Friday, August 23.