.Hello and also invited to Modern chief executive officer! I'm Stephanie Mehta, chief executive officer as well as primary material policeman of Mansueto Ventures. Each week this e-newsletter explores broad techniques to leadership drawn from discussions with executives and business owners, and also coming from the web pages of Inc. and Swift Business. If you got this e-newsletter coming from a close friend, you can subscribe to acquire it your own self every Monday morning.Being a CEO in today times is tough: Pressures include delighting shareholders, handling rising prices and also resolving ongoing supply-chain problems, as well as creating terrific workplaces. However, for several executives, being actually an ex-CEO offers its personal collection of challenges. Some problem to deal with the reduction of the rewards as well as status that feature the work, while others really feel required to follow the well-trodden pathway to exclusive equity or corporate boards." Yearly, thousands of managers relinquish lengthy as well as successful business professions. Yet handful of are actually planned for the trip they are about to start," past Outpost Communications chief executive officer Maggie Wilderotter announced earlier this year in a Harvard Business Review essay, penned along with career coach Rick Smith and also headhunter Dennis Carey.Life beyond MicrosoftOne past corporate tribal chief that seems to have actually found his ground is actually past Microsoft CEO Steve Ballmer. Ballmer bought the Los Angeles Clippers basketball crew for $2 billion in 2014 as well as merely introduced the team's brand-new home, the Intuit Dome. (Prompt Firm calls it "Steve Ballmer's $ 2 billion playground for Los Angeles Clippers supporters.") The staff and also arena have actually provided Ballmer a sense of objective that possesses, somehow, overshadowed his adventures at the technology titan. "I've focused on a bunch of items throughout my occupation at Microsoft, and also I have actually enjoyed all of them all," Ballmer told me during the course of an interview this month at Intuit Dome facing a reader that included members of the Young Presidents' Company and also building and construction laborers who assisted create the center as well as their loved ones. "But ... in the development of this particular structure, I possibly possessed a clearer viewpoint of what I would like to carry out, as well as I have the best fulfillment, certainly not even if it prospered, yet [given that] it's a financial investment in the community, too." Intuit Dome has actually very much been an interest project for Ballmer, who found to guarantee that all fans have a costs expertise. Every seat is actually developed along with simple access to deals and washrooms, phone demanding capabilities, and also plenty of lower leg room, no matter ticket price.Ballmer's sizable investments are settling. The Clippers succeeded 51 video games in the 2023-2024 period, and completed 4th in the NBA Western Event. (The Dallas Mavericks got rid of the staff from the playoffs.) And Ballmer repeatedly ranks as being one of the top NBA managers in enthusiast polls.He is an extremely unlikely good example for post-CEO life. His retirement life from Microsoft in 2014 after 34 years at the provider and also 13 years as chief executive officer was actually mental and also filled. Though incomes almost tripled during the course of his period, the equity essentially stood still, and the company missed the opportunity to become a player in mobile devices and web companies. Under the gun from the firm's board, Ballmer looked for to spruce up the firm prior to ultimately deciding he was certainly not the greatest individual to move Microsoft ahead. A media reporter who told his departure coming from Microsoft described him as "extremely depressing to leave behind the provider." CEO, reinventedPart of what helps make Ballmer a second-act excellence tale is actually that he didn't attempt to recreate his company life. Rather, he took possession of an opportunity to get the Clippers after previous co-owner Donald Sterling was actually outlawed from operating the group or linking with the NBA. "Possessing excessive options can bring about selection exhaustion, returning to default alternatives, or maybe steering clear of making a decision altogether," Wilderotter as well as her co-authors point out, encouraging ex-CEOs to instead redefine their objective or identity. (Ballmer is actually likewise founder of USAFacts, a detached records provider.) Costs George, the former Medtronic chief executive officer who modify themself as a management authority after retirement life, has pointed out that the past CEOs who flourish are actually the ones that locate means "to make or nurture points that will definitely outlast them." In the course of our meeting at the arena, Ballmer echoed this belief. "Somebody informed me the moment, 'No person ever really possesses a baseball team. You look after it. You shepherd it, and you carry it along,'" he states. "Intuit Dome can be a little bit of what I perform to shepherd this staff throughout. Given that it's possessed by the supporters at the end of the day, and our company only take care of it." Are you a single CEO in a second act?Are you a former chief executive officer who possesses located purpose in your 2nd act? Exactly how performed you go about finding your new identity? Deliver your insights and also stories to me at stephaniemehta@mansueto.com. I'll discuss one of the most compelling instances in a future newsletter.Read and also see much more: second process Relate to the absolute most Ingenious Business Honors and be actually recognized as a company driving the world forward via development. Early-rate due date: Friday, August 23.