.Greetings and welcome to Modern chief executive officer! I am actually Stephanie Mehta, chief executive officer and main material officer of Mansueto Ventures. Every week this newsletter explores broad methods to leadership reasoned chats with execs as well as business people, and also coming from the pages of Inc. as well as Quick Business. If you received this e-newsletter from a close friend, you can register to acquire it on your own every Monday morning.Being a CEO in today times is tough: Pressures include delighting investors, handling climbing prices and also solving ongoing supply-chain concerns, and developing excellent work environments. However, for a lot of execs, being an ex-CEO shows its own set of difficulties. Some problem to handle the loss of the advantages as well as standing that feature the job, while others experience obliged to adhere to the well-trodden pathway to private equity or even company panels." Each year, thousands of executives retire from lengthy and prosperous corporate careers. Yet handful of are gotten ready for the journey they will embark on," previous Outpost Communications chief executive officer Maggie Wilderotter declared previously this year in a Harvard Organization Review essay, penciled along with job instructor Rick Johnson as well as talent scout Dennis Carey.Life past MicrosoftOne former company big shot that appears to have actually found his footing is former Microsoft chief executive officer Steve Ballmer. Ballmer bought the Los Angeles Clippers baseball staff for $2 billion in 2014 and simply revealed the crew's new home, the Intuit Dome. (Quick Company calls it "Steve Ballmer's $ 2 billion recreation space for LA Clippers supporters.") The crew and also sector have actually provided Ballmer a sense of purpose that has, in some ways, darkened his expertises at the tech titan. "I have actually worked on a lot of products over the course of my job at Microsoft, as well as I have actually liked them all," Ballmer informed me in the course of an interview this month at Intuit Dome facing a target market that featured members of the Young Presidents' Organization in addition to building and construction employees that assisted create the center and also their loved ones. "Yet ... in the growth of the property, I possibly possessed a clearer perspective of what I desired to carry out, and also I possess one of the most complete satisfaction, not just because it thrived, but [since] it's a financial investment in the community, too." Intuit Dome has actually very much been actually an enthusiasm project for Ballmer, who sought to ensure that all supporters possess a costs knowledge. Every chair is made along with simple access to giving ins and also washrooms, phone charging capabilities, as well as ample leg room, no matter ticket price.Ballmer's significant expenditures are actually paying off. The Clippers gained 51 video games in the 2023-2024 period, as well as ended up 4th in the NBA Western Event. (The Dallas Mavericks dealt with the staff coming from the playoffs.) And Ballmer repeatedly positions as one of the leading NBA proprietors in supporter polls.He is an unexpected good example for post-CEO lifestyle. His retirement coming from Microsoft in 2014 after 34 years at the business and also thirteen years as CEO was actually mental and filled. Though revenues virtually tripled during the course of his period, the assets basically stagnated, as well as the business missed the chance to come to be a gamer in cell phones and web solutions. Under the gun from the provider's panel, Ballmer found to remodel the company just before ultimately deciding he was certainly not the best person to relocate Microsoft forward. A reporter who recorded his retirement from Microsoft described him as "very sad to leave behind the company." CEO, reinventedPart of what makes Ballmer a second-act success account is that he really did not choose to recreate his company lifestyle. Rather, he seized a chance to get the Clippers after previous co-owner Donald Sterling was outlawed from running the staff or linking with the NBA. "Possessing a lot of options can easily result in decision tiredness, going back to default possibilities, and even avoiding making a decision entirely," Wilderotter and also her co-authors mention, recommending ex-CEOs to rather redefine their objective or even identification. (Ballmer is additionally creator of USAFacts, a detached information firm.) Costs George, the former Medtronic CEO that recast himself as a leadership guru after retired life, has mentioned that the previous Chief executive officers who grow are the ones who discover means "to generate or even support traits that are going to outlast all of them." During our interview at the arena, Ballmer echoed this feeling. "Someone told me when, 'No one ever actually possesses a baseball staff. You take care of it. You shepherd it, and you take it along,'" he says. "Intuit Dome can be a little of what I perform to shepherd this group along. Considering that it's possessed due to the supporters by the end of the day, and also we simply look after it." Are you a single chief executive officer in a second act?Are you a former CEO that has found purpose in your second action? Exactly how did you handle discovering your brand-new identity? Send your ideas and anecdotes to me at stephaniemehta@mansueto.com. I'll discuss one of the most engaging instances in a potential newsletter.Read as well as enjoy extra: second process Apply to one of the most Ingenious Firms Awards as well as be actually realized as an institution driving the planet onward via technology. Early-rate due date: Friday, August 23.