.Greetings and invited to Modern chief executive officer! I am actually Stephanie Mehta, chief executive officer as well as chief satisfied police officer of Mansueto Ventures. Each week this newsletter checks out broad techniques to leadership reasoned chats along with execs and business people, and also from the webpages of Inc. and also Prompt Business. If you acquired this e-newsletter coming from a good friend, you can join to acquire it on your own every Monday morning.Being a chief executive officer these days is actually difficult: Stress feature pleasing investors, dealing with rising expenses and fixing recurring supply-chain issues, and making wonderful place of work. However, for many managers, being actually an ex-CEO offers its personal collection of challenges. Some struggle to handle the loss of the advantages as well as status that possess the task, while others really feel required to follow the well-trodden road to private equity or company boards." Annually, lots of execs relinquish long and also productive business jobs. However handful of are organized the journey they will embark on," previous Frontier Communications CEO Maggie Wilderotter announced earlier this year in a Harvard Business Customer review essay, penciled with career instructor Rick Smith and headhunter Dennis Carey.Life past MicrosoftOne former company chieftain that appears to have located his ground is actually past Microsoft CEO Steve Ballmer. Ballmer purchased the Los Angeles Clippers baseball team for $2 billion in 2014 and just unveiled the staff's brand-new home, the Intuit Dome. (Swift Business calls it "Steve Ballmer's $ 2 billion recreation space for Los Angeles Clippers supporters.") The team and also arena have offered Ballmer a sense of purpose that possesses, somehow, darkened his expertises at the tech giant. "I have actually focused on a lot of products over the course of my job at Microsoft, as well as I have actually liked all of them all," Ballmer informed me in the course of a meeting this month at Intuit Dome in front of an audience that consisted of participants of the Youthful Presidents' Organization and also construction employees who assisted construct the amenities as well as their family members. "But ... in the growth of the structure, I perhaps possessed a more clear perspective of what I wished to do, and also I possess the most contentment, not even if it turned out well, but [given that] it is actually an assets in the community, as well." Intuit Dome has very much been an interest project for Ballmer, who sought to make sure that all followers have a fee expertise. Every chair is actually designed along with very easy access to giving ins and also shower rooms, phone asking for capabilities, as well as sufficient lower leg room, regardless of ticket price.Ballmer's considerable financial investments are actually repaying. The Clippers gained 51 activities in the 2023-2024 season, and completed 4th in the NBA Western Association. (The Dallas Mavericks did away with the crew from the playoffs.) And Ballmer routinely ranks as one of the leading NBA managers in enthusiast polls.He is an unlikely role model for post-CEO lifestyle. His retirement from Microsoft in 2014 after 34 years at the business as well as 13 years as CEO was mental and also filled. Though earnings nearly tripled in the course of his tenure, the share basically stood still, and also the firm missed out on the chance to come to be a player in mobile phones and also internet companies. Struggling from the provider's panel, Ballmer found to overhaul the firm before ultimately making a decision he was not the best person to relocate Microsoft ahead. A media reporter who told his departure from Microsoft illustrated him as "very sad to leave the business." CEO, reinventedPart of what makes Ballmer a second-act results story is actually that he failed to choose to recreate his company life. Somewhat, he took a chance to obtain the Clippers after previous co-owner Donald Sterling was actually disallowed coming from operating the group or associating with the NBA. "Possessing way too many selections can lead to choice exhaustion, reverting to fail possibilities, and even steering clear of deciding completely," Wilderotter and her co-authors say, suggesting ex-CEOs to as an alternative redefine their purpose or even identification. (Ballmer is additionally creator of USAFacts, a nonpartisan data company.) Bill George, the former Medtronic chief executive officer that recast themself as a management expert after retirement, has actually mentioned that the former Chief executive officers that prosper are actually the ones who find ways "to generate or even nurture factors that are going to outlast all of them." During our interview at the field, Ballmer resembled this belief. "A person informed me once, 'No one ever before actually possesses a baseball crew. You take care of it. You shepherd it, and you deliver it along,'" he says. "Intuit Dome may be a bit of what I do to shepherd this crew throughout. Because it's owned due to the fans at the end of the time, and our experts only deal with it." Are you an one-time chief executive officer in a second act?Are you a previous CEO that has found purpose in your 2nd process? How did you go about discovering your new identity? Send your knowledge as well as narratives to me at stephaniemehta@mansueto.com. I'll discuss the best compelling instances in a potential newsletter.Read and also watch extra: 2nd actions Relate to the absolute most Innovative Business Awards as well as be actually identified as an institution steering the globe onward through technology. Early-rate target date: Friday, August 23.