.Hi and invited to Modern chief executive officer! I am actually Stephanie Mehta, chief executive officer as well as primary material policeman of Mansueto Ventures. Every week this newsletter checks out inclusive approaches to leadership drawn from talks along with executives and also business owners, and also coming from the pages of Inc. as well as Quick Company. If you acquired this bulletin from a pal, you can enroll to receive it on your own every Monday morning.Being a chief executive officer in today times is actually hard: Tensions include fulfilling investors, taking care of increasing expenses and also solving continuous supply-chain problems, as well as making great offices. However, for a lot of execs, being actually an ex-CEO presents its own set of difficulties. Some struggle to manage the reduction of the advantages and standing that come with the project, while others feel required to adhere to the well-trodden path to personal equity or corporate panels." Every year, 1000s of executives relinquish long and productive business jobs. Yet handful of are organized the quest they are about to start," previous Outpost Communications CEO Maggie Wilderotter proclaimed previously this year in a Harvard Service Assessment essay, penciled along with career train Rick Smith and also talent scout Dennis Carey.Life past MicrosoftOne former business big shot who seems to have actually located his ground is actually past Microsoft chief executive officer Steve Ballmer. Ballmer purchased the Los Angeles Clippers basketball staff for $2 billion in 2014 and only revealed the crew's brand new home, the Intuit Dome. (Quick Firm calls it "Steve Ballmer's $ 2 billion recreation space for LA Clippers fans.") The group and also arena have actually offered Ballmer a sense of reason that possesses, somehow, shrouded his knowledge at the technician giant. "I've worked on a ton of products over the course of my career at Microsoft, as well as I've loved them all," Ballmer informed me during a job interview this month at Intuit Dome in front of a target market that featured members of the Youthful Presidents' Institution as well as development employees who helped create the amenities as well as their family members. "Yet ... in the development of this property, I most likely had a more clear perspective of what I desired to carry out, and I possess the absolute most fulfillment, certainly not just because it turned out well, however [considering that] it is actually a financial investment in the neighborhood, too." Intuit Dome has actually quite been an interest task for Ballmer, that sought to ensure that all followers have a costs experience. Every chair is created with easy accessibility to giving ins and also restrooms, phone demanding capabilities, as well as sufficient leg area, irrespective of ticket price.Ballmer's significant expenditures are actually paying off. The Clippers won 51 video games in the 2023-2024 season, and finished fourth in the NBA Western Conference. (The Dallas Mavericks did away with the staff from the playoffs.) As well as Ballmer routinely positions as being one of the top NBA managers in follower polls.He is actually a not likely good example for post-CEO lifestyle. His retired life coming from Microsoft in 2014 after 34 years at the provider and thirteen years as CEO was psychological and also laden. Though revenues nearly tripled during his period, the equity practically went stale, and the firm missed out on the possibility to come to be a gamer in cell phones and also web services. Struggling coming from the business's board, Ballmer sought to renew the company prior to inevitably deciding he was actually not the most ideal individual to relocate Microsoft ahead. A press reporter that recorded his separation coming from Microsoft described him as "quite depressing to leave the business." CHIEF EXECUTIVE OFFICER, reinventedPart of what produces Ballmer a second-act success tale is actually that he didn't choose to recreate his corporate life. Rather, he took possession of an option to acquire the Clippers after previous co-owner Donald Sterling was actually disallowed coming from operating the staff or even relating to the NBA. "Having way too many choices can bring about selection tiredness, changing to skip possibilities, and even staying away from deciding entirely," Wilderotter as well as her co-authors say, suggesting ex-CEOs to as an alternative redefine their purpose or even identity. (Ballmer is actually also owner of USAFacts, a nonpartisan records company.) Expense George, the past Medtronic CEO who modify himself as a leadership expert after retirement life, has actually stated that the past Chief executive officers who grow are the ones who discover ways "to create or nourish factors that are going to outlast them." Throughout our interview at the field, Ballmer echoed this sentiment. "Someone informed me as soon as, 'No person ever before really has a basketball crew. You handle it. You shepherd it, and also you carry it along,'" he says. "Intuit Dome can be a small amount of what I carry out to shepherd this staff along. Given that it is actually owned due to the followers by the end of the day, and also our company merely deal with it." Are you a single CEO in a 2nd act?Are you a previous CEO who possesses found reason in your 2nd act? How performed you handle locating your new identity? Send your understandings and also stories to me at stephaniemehta@mansueto.com. I'll share the absolute most engaging examples in a potential newsletter.Read as well as check out even more: 2nd actions Relate to the absolute most Cutting-edge Providers Awards and also be actually acknowledged as a company steering the globe ahead by means of development. Early-rate deadline: Friday, August 23.