.Hey there and appreciated to Modern chief executive officer! I am actually Stephanie Mehta, chief executive officer and chief content officer of Mansueto Ventures. Weekly this email list explores comprehensive approaches to leadership drawn from discussions along with managers as well as business owners, as well as coming from the web pages of Inc. as well as Fast Business. If you acquired this bulletin coming from a good friend, you can easily sign up to obtain it on your own every Monday morning.Being a CEO these days is tough: Stress feature satisfying investors, managing increasing prices and also resolving continuous supply-chain concerns, and also making fantastic offices. However, for many executives, being an ex-CEO presents its very own set of problems. Some struggle to manage the reduction of the perks as well as standing that include the task, while others experience required to adhere to the well-trodden pathway to personal equity or company boards." Yearly, countless managers relinquish long as well as successful company occupations. But couple of are prepared for the adventure they will plunge into," past Outpost Communications chief executive officer Maggie Wilderotter stated previously this year in a Harvard Business Review essay, penciled along with job instructor Rick Smith and also headhunter Dennis Carey.Life past MicrosoftOne past company big shot who appears to have found his footing is previous Microsoft chief executive officer Steve Ballmer. Ballmer bought the Los Angeles Clippers baseball crew for $2 billion in 2014 and only introduced the crew's brand-new home, the Intuit Dome. (Swift Business calls it "Steve Ballmer's $ 2 billion play area for LA Clippers fans.") The group and sector have given Ballmer a feeling of function that possesses, in some ways, eclipsed his expertises at the specialist giant. "I've focused on a great deal of products over the course of my profession at Microsoft, as well as I have actually enjoyed all of them all," Ballmer told me during a job interview this month at Intuit Dome before an audience that included members of the Young Presidents' Company along with construction employees who helped create the amenities and their loved ones. "But ... in the growth of this particular building, I probably had a more clear scenery of what I would like to carry out, and also I possess one of the most satisfaction, certainly not even if it turned out well, however [since] it is actually an expenditure in the community, also." Intuit Dome has significantly been actually a passion task for Ballmer, who sought to guarantee that all fans possess a costs expertise. Every chair is actually made along with simple accessibility to concessions and washrooms, phone charging capacities, and also enough lower leg room, despite ticket price.Ballmer's considerable financial investments are actually paying. The Clippers gained 51 video games in the 2023-2024 time, and ended up 4th in the NBA Western Event. (The Dallas Mavericks eliminated the group from the playoffs.) As well as Ballmer regularly rates being one of the best NBA managers in fan polls.He is an unexpected shining example for post-CEO life. His retirement life coming from Microsoft in 2014 after 34 years at the company and also thirteen years as CEO was actually emotional and tangled up. Though earnings virtually tripled during his period, the assets practically went stale, and also the company skipped the option to end up being a player in mobile phones and internet companies. Under the gun coming from the company's board, Ballmer sought to renew the business prior to eventually making a decision he was certainly not the very best individual to relocate Microsoft onward. A reporter that narrated his separation coming from Microsoft explained him as "incredibly depressing to leave the business." CHIEF EXECUTIVE OFFICER, reinventedPart of what makes Ballmer a second-act success story is that he really did not attempt to recreate his company lifestyle. Somewhat, he took an opportunity to get the Clippers after previous co-owner Donald Sterling was actually outlawed from managing the crew or even connecting with the NBA. "Possessing excessive choices may cause choice tiredness, changing to fail possibilities, and even steering clear of deciding entirely," Wilderotter and also her co-authors state, urging ex-CEOs to as an alternative redefine their function or identity. (Ballmer is likewise creator of USAFacts, a detached data business.) Expense George, the past Medtronic CEO that recast himself as a management authority after retirement, has actually stated that the past Chief executive officers that grow are actually the ones that discover ways "to create or support things that will outlive them." During our interview at the arena, Ballmer reflected this belief. "A person informed me the moment, 'No person ever before actually possesses a baseball group. You handle it. You shepherd it, and you deliver it along,'" he claims. "Intuit Dome can be a little of what I do to shepherd this group throughout. Since it is actually possessed by the enthusiasts in the end of the time, as well as our experts merely deal with it." Are you a single CEO in a 2nd act?Are you a past chief executive officer who possesses located objective in your 2nd act? Just how did you tackle finding your brand-new identification? Send your ideas and also anecdotes to me at stephaniemehta@mansueto.com. I'll discuss the most convincing examples in a future newsletter.Read and check out extra: 2nd acts Put on the best Impressive Firms Awards as well as be acknowledged as an institution steering the world ahead via technology. Early-rate due date: Friday, August 23.