.Hi there as well as invited to Modern chief executive officer! I am actually Stephanie Mehta, CEO and chief content policeman of Mansueto Ventures. Each week this email list discovers inclusive methods to management reasoned conversations with execs and business people, as well as from the web pages of Inc. as well as Fast Business. If you got this email list coming from a close friend, you can enroll to get it yourself every Monday morning.Being a chief executive officer these days is tough: Stress feature delighting shareholders, managing rising expenses and resolving recurring supply-chain problems, and also creating fantastic offices. But also for several executives, being an ex-CEO presents its personal set of challenges. Some struggle to deal with the loss of the benefits as well as standing that possess the project, while others really feel required to follow the well-trodden road to exclusive equity or even corporate panels." Each year, 1000s of managers relinquish lengthy and also productive business occupations. Yet few are prepared for the adventure they will start," past Frontier Communications chief executive officer Maggie Wilderotter stated previously this year in a Harvard Service Customer review essay, penciled with profession train Rick Johnson as well as talent scout Dennis Carey.Life beyond MicrosoftOne previous corporate chieftain that seems to have actually found his footing is former Microsoft CEO Steve Ballmer. Ballmer purchased the Los Angeles Clippers basketball group for $2 billion in 2014 and merely revealed the staff's brand-new home, the Intuit Dome. (Quick Business calls it "Steve Ballmer's $ 2 billion recreation space for Los Angeles Clippers supporters.") The group as well as field have actually given Ballmer a feeling of objective that possesses, somehow, eclipsed his expertises at the tech titan. "I have actually dealt with a great deal of products throughout my career at Microsoft, and also I've adored them all," Ballmer told me in the course of a meeting this month at Intuit Dome in front of a reader that featured participants of the Youthful Presidents' Company as well as construction workers who helped develop the location and their households. "But ... in the advancement of the property, I perhaps had a clearer view of what I desired to perform, as well as I possess one of the most satisfaction, not even if it thrived, however [since] it's a financial investment in the area, as well." Intuit Dome has quite been actually an enthusiasm task for Ballmer, that found to make certain that all followers have a premium adventure. Every seat is designed along with quick and easy accessibility to giving ins as well as bathrooms, phone asking for capacities, as well as substantial lower leg space, irrespective of ticket price.Ballmer's substantial financial investments are actually paying. The Clippers succeeded 51 video games in the 2023-2024 season, and finished 4th in the NBA Western Association. (The Dallas Mavericks got rid of the staff from the playoffs.) And also Ballmer often ranks as being one of the best NBA owners in supporter polls.He is actually a not likely role model for post-CEO lifestyle. His retirement from Microsoft in 2014 after 34 years at the provider and also thirteen years as CEO was actually mental and also fraught. Though incomes nearly tripled during the course of his period, the share generally stood still, and the provider skipped the option to end up being a player in cell phones as well as internet solutions. Under the gun from the company's panel, Ballmer found to overhaul the company prior to ultimately deciding he was actually not the greatest individual to move Microsoft onward. A reporter that narrated his parting coming from Microsoft explained him as "very unfortunate to leave the company." CEO, reinventedPart of what creates Ballmer a second-act success tale is actually that he didn't try to reproduce his company life. Instead, he seized an option to obtain the Clippers after previous co-owner Donald Sterling was actually disallowed coming from operating the staff or relating to the NBA. "Possessing a lot of options can trigger selection fatigue, returning to fail alternatives, and even preventing deciding completely," Wilderotter and her co-authors say, encouraging ex-CEOs to as an alternative redefine their objective or identity. (Ballmer is likewise owner of USAFacts, a detached information business.) Costs George, the previous Medtronic CEO who recast themself as a leadership expert after retirement life, has pointed out that the previous Chief executive officers that grow are actually the ones who locate methods "to create or even nurture points that are going to outlast all of them." Throughout our meeting at the arena, Ballmer resembled this belief. "Somebody told me once, 'No person ever before truly owns a baseball group. You take care of it. You shepherd it, and you bring it along,'" he claims. "Intuit Dome can be a little bit of what I perform to shepherd this group throughout. Since it is actually possessed due to the followers by the end of the time, and also our company only deal with it." Are you an one-time CEO in a 2nd act?Are you a former chief executive officer who has discovered reason in your 2nd act? How performed you handle locating your new identification? Deliver your understandings and also anecdotes to me at stephaniemehta@mansueto.com. I'll discuss the most convincing examples in a future newsletter.Read and enjoy a lot more: 2nd actions Apply to the Most Impressive Providers Awards and be actually acknowledged as an association steering the globe forward via technology. Early-rate due date: Friday, August 23.