.Hello and also appreciated to Modern chief executive officer! I'm Stephanie Mehta, chief executive officer and also chief material officer of Mansueto Ventures. Each week this newsletter checks out broad techniques to leadership drawn from chats along with execs as well as business owners, and from the pages of Inc. and also Quick Business. If you got this bulletin coming from a close friend, you can easily register to get it your own self every Monday morning.Being a chief executive officer in today times is challenging: Stress feature satisfying investors, managing rising prices and also fixing on-going supply-chain problems, and also generating fantastic place of work. However, for numerous executives, being an ex-CEO presents its very own set of difficulties. Some struggle to cope with the loss of the benefits and also condition that include the task, while others really feel required to comply with the well-trodden pathway to personal equity or even corporate panels." Yearly, lots of executives relinquish long and productive business careers. But couple of are gotten ready for the adventure they will embark on," former Frontier Communications chief executive officer Maggie Wilderotter stated previously this year in a Harvard Service Assessment essay, penned along with profession instructor Rick Johnson and talent scout Dennis Carey.Life beyond MicrosoftOne former company chieftain who seems to be to have actually found his ground is actually former Microsoft CEO Steve Ballmer. Ballmer acquired the Los Angeles Clippers basketball staff for $2 billion in 2014 and only revealed the staff's brand new home, the Intuit Dome. (Swift Provider calls it "Steve Ballmer's $ 2 billion playground for Los Angeles Clippers enthusiasts.") The crew and sector have actually offered Ballmer a sense of objective that has, somehow, darkened his experiences at the specialist titan. "I've worked with a considerable amount of items over the course of my profession at Microsoft, and I've liked all of them all," Ballmer told me throughout an interview this month at Intuit Dome in front of a reader that included members of the Youthful Presidents' Institution as well as construction workers that aided build the amenities as well as their families. "Yet ... in the progression of this particular building, I perhaps possessed a more clear scenery of what I would like to carry out, as well as I possess one of the most complete satisfaction, not even if it turned out well, but [because] it is actually an assets in the neighborhood, as well." Intuit Dome has very much been actually an enthusiasm task for Ballmer, that found to guarantee that all fans possess a fee experience. Every seat is made with simple accessibility to deals and bathrooms, phone charging functionalities, as well as enough lower leg space, despite ticket price.Ballmer's substantial financial investments are paying off. The Clippers succeeded 51 games in the 2023-2024 season, and also ended up fourth in the NBA Western Event. (The Dallas Mavericks dealt with the staff from the playoffs.) And Ballmer repeatedly places as being one of the leading NBA proprietors in fan polls.He is actually an unexpected good example for post-CEO lifestyle. His retirement from Microsoft in 2014 after 34 years at the provider and also thirteen years as chief executive officer was actually mental and filled. Though earnings virtually tripled during his period, the assets practically stood still, and also the company overlooked the possibility to end up being a gamer in cell phones and also world wide web solutions. Struggling coming from the company's panel, Ballmer looked for to spruce up the company prior to inevitably determining he was actually certainly not the very best individual to relocate Microsoft forward. A press reporter who recorded his parting coming from Microsoft explained him as "quite saddening to leave behind the business." CHIEF EXECUTIVE OFFICER, reinventedPart of what helps make Ballmer a second-act excellence story is actually that he really did not choose to reproduce his business lifestyle. Somewhat, he took an opportunity to get the Clippers after previous co-owner Donald Sterling was actually disallowed coming from operating the team or even relating to the NBA. "Possessing way too many choices may cause decision tiredness, returning to default possibilities, or maybe steering clear of choosing completely," Wilderotter and her co-authors say, recommending ex-CEOs to instead redefine their objective or even identity. (Ballmer is likewise owner of USAFacts, a detached records business.) Costs George, the previous Medtronic CEO that modify themself as a management master after retirement, has pointed out that the past CEOs that grow are the ones that locate ways "to generate or even nurture factors that will certainly outlast them." In the course of our interview at the arena, Ballmer resembled this feeling. "A person told me when, 'No one ever before actually has a baseball team. You handle it. You shepherd it, and also you take it along,'" he mentions. "Intuit Dome may be a little bit of what I do to shepherd this staff throughout. Considering that it is actually possessed due to the supporters at the end of the day, as well as our experts merely look after it." Are you a single CEO in a second act?Are you a former chief executive officer that has located function in your 2nd action? Just how performed you deal with locating your brand new identity? Deliver your insights and also stories to me at stephaniemehta@mansueto.com. I'll discuss the best engaging instances in a potential newsletter.Read and also see extra: 2nd acts Put on the best Ingenious Business Honors and be acknowledged as an institution steering the planet forward by means of innovation. Early-rate due date: Friday, August 23.