.Greetings and welcome to Modern chief executive officer! I'm Stephanie Mehta, CEO and also main content police officer of Mansueto Ventures. Each week this newsletter checks out broad strategies to leadership drawn from talks with execs as well as business people, and also from the web pages of Inc. as well as Fast Firm. If you obtained this newsletter coming from a good friend, you can easily enroll to acquire it yourself every Monday morning.Being a CEO in today times is challenging: Tensions consist of satisfying investors, managing rising costs as well as solving continuous supply-chain issues, and developing excellent work environments. But also for a lot of execs, being an ex-CEO provides its personal collection of problems. Some battle to handle the loss of the perks and standing that feature the task, while others really feel obliged to follow the well-trodden course to personal equity or corporate panels." Yearly, thousands of execs retire from lengthy as well as effective company occupations. But couple of are actually gotten ready for the experience they are about to plunge into," past Outpost Communications CEO Maggie Wilderotter proclaimed previously this year in a Harvard Service Customer review essay, penned with occupation trainer Rick Smith and headhunter Dennis Carey.Life past MicrosoftOne former business big shot that seems to have discovered his ground is actually former Microsoft CEO Steve Ballmer. Ballmer purchased the Los Angeles Clippers baseball team for $2 billion in 2014 as well as merely unveiled the staff's new home, the Intuit Dome. (Quick Firm calls it "Steve Ballmer's $ 2 billion playing field for LA Clippers enthusiasts.") The team and also sector have actually offered Ballmer a feeling of objective that has, in some ways, overshadowed his adventures at the specialist titan. "I have actually worked on a bunch of items throughout my career at Microsoft, and I've loved all of them all," Ballmer informed me throughout a job interview this month at Intuit Dome facing a target market that featured participants of the Youthful Presidents' Company as well as building employees that aided construct the center and also their families. "But ... in the progression of this property, I possibly possessed a clearer sight of what I wished to do, as well as I have the best complete satisfaction, certainly not even if it thrived, but [given that] it is actually an investment in the community, too." Intuit Dome has quite been a passion venture for Ballmer, that sought to ensure that all fans have a superior knowledge. Every chair is actually created with effortless access to deals and restrooms, phone asking for capacities, and also substantial lower leg area, irrespective of ticket price.Ballmer's considerable investments are actually paying. The Clippers succeeded 51 video games in the 2023-2024 period, and ended up fourth in the NBA Western Conference. (The Dallas Mavericks eliminated the crew coming from the playoffs.) And Ballmer repeatedly positions being one of the leading NBA managers in enthusiast polls.He is an improbable shining example for post-CEO lifestyle. His retired life coming from Microsoft in 2014 after 34 years at the company as well as 13 years as CEO was actually mental and stuffed. Though earnings nearly tripled during the course of his period, the stock generally stagnated, and the company missed the possibility to become a player in mobile phones and also world wide web services. Struggling coming from the firm's board, Ballmer found to spruce up the firm just before eventually deciding he was actually not the best individual to relocate Microsoft forward. A press reporter who narrated his parting from Microsoft described him as "really unfortunate to leave behind the firm." CHIEF EXECUTIVE OFFICER, reinventedPart of what makes Ballmer a second-act success story is that he really did not choose to reproduce his company lifestyle. Rather, he seized a chance to obtain the Clippers after previous co-owner Donald Sterling was actually prohibited coming from managing the group or even relating to the NBA. "Possessing a lot of selections can easily trigger decision exhaustion, going back to skip options, or even avoiding choosing entirely," Wilderotter and her co-authors claim, advising ex-CEOs to instead redefine their reason or identification. (Ballmer is actually also owner of USAFacts, a nonpartisan information firm.) Expense George, the past Medtronic CEO who modify himself as a management master after retired life, has said that the former Chief executive officers that flourish are the ones who locate means "to produce or support factors that will certainly outlast them." During our meeting at the stadium, Ballmer reflected this feeling. "Somebody told me when, 'Nobody ever definitely has a basketball crew. You take care of it. You shepherd it, and also you carry it along,'" he says. "Intuit Dome could be a small amount of what I perform to shepherd this team along. Since it is actually had by the enthusiasts in the end of the time, and also our experts just handle it." Are you a single chief executive officer in a 2nd act?Are you a previous CEO that possesses discovered objective in your 2nd act? Exactly how did you deal with locating your brand-new identification? Send your ideas and narratives to me at stephaniemehta@mansueto.com. I'll discuss the best engaging examples in a potential newsletter.Read as well as check out more: 2nd acts Relate to the Most Innovative Providers Honors and be actually identified as an association steering the planet forward with technology. Early-rate target date: Friday, August 23.