.Hi there and invited to Modern chief executive officer! I'm Stephanie Mehta, CEO as well as primary satisfied officer of Mansueto Ventures. Each week this newsletter looks into inclusive approaches to leadership drawn from talks with executives and business owners, and also coming from the pages of Inc. and also Rapid Provider. If you got this e-newsletter coming from a friend, you can easily enroll to get it your own self every Monday morning.Being a CEO nowadays is difficult: Stress include satisfying shareholders, taking care of climbing expenses as well as addressing ongoing supply-chain problems, and creating wonderful workplaces. But for many execs, being an ex-CEO presents its personal set of problems. Some struggle to cope with the reduction of the perks and also standing that come with the project, while others really feel obliged to comply with the well-trodden road to personal equity or even business panels." Each year, thousands of execs retire from lengthy as well as effective company professions. However couple of are prepared for the experience they will start," former Frontier Communications chief executive officer Maggie Wilderotter proclaimed previously this year in a Harvard Service Evaluation essay, penciled with career train Rick Smith as well as headhunter Dennis Carey.Life beyond MicrosoftOne former business big shot that seems to be to have actually located his ground is previous Microsoft chief executive officer Steve Ballmer. Ballmer purchased the Los Angeles Clippers basketball crew for $2 billion in 2014 as well as simply revealed the staff's brand-new home, the Intuit Dome. (Quick Business calls it "Steve Ballmer's $ 2 billion recreation space for LA Clippers enthusiasts.") The team as well as field have actually provided Ballmer a feeling of reason that has, somehow, eclipsed his expertises at the technician giant. "I have actually serviced a great deal of items throughout my career at Microsoft, and also I have actually adored all of them all," Ballmer told me during a meeting this month at Intuit Dome in front of a viewers that consisted of participants of the Youthful Presidents' Institution and also building employees who aided construct the facility as well as their households. "But ... in the development of the structure, I perhaps possessed a more clear viewpoint of what I wanted to do, and I possess the most contentment, not just because it turned out well, however [considering that] it's an expenditure in the neighborhood, also." Intuit Dome has very much been actually an enthusiasm venture for Ballmer, that sought to make certain that all supporters have a costs expertise. Every seat is actually created with very easy access to giving ins and restrooms, phone charging functionalities, and enough leg area, no matter ticket price.Ballmer's considerable investments are paying off. The Clippers gained 51 games in the 2023-2024 period, and also ended up 4th in the NBA Western Association. (The Dallas Mavericks did away with the staff coming from the playoffs.) As well as Ballmer regularly rates as being one of the leading NBA owners in fan polls.He is an improbable shining example for post-CEO life. His retirement from Microsoft in 2014 after 34 years at the firm and 13 years as chief executive officer was actually mental and laden. Though profits virtually tripled during the course of his period, the stock basically went stale, and also the firm missed out on the chance to become a player in smart phones as well as web services. Under pressure from the business's panel, Ballmer found to revamp the firm before inevitably choosing he was actually certainly not the most ideal individual to relocate Microsoft forward. A media reporter that chronicled his retirement coming from Microsoft described him as "really unfortunate to leave the company." CHIEF EXECUTIVE OFFICER, reinventedPart of what produces Ballmer a second-act effectiveness tale is actually that he didn't attempt to recreate his corporate life. Instead, he confiscated an option to obtain the Clippers after previous co-owner Donald Sterling was actually prohibited from operating the staff or even relating to the NBA. "Possessing way too many options can result in selection tiredness, reverting to fail alternatives, or perhaps staying clear of deciding completely," Wilderotter as well as her co-authors state, suggesting ex-CEOs to instead redefine their purpose or identity. (Ballmer is additionally creator of USAFacts, a nonpartisan records firm.) Expense George, the former Medtronic chief executive officer that recast themself as a leadership guru after retirement life, has actually said that the former CEOs that grow are the ones who discover techniques "to generate or nurture traits that will certainly outlast them." In the course of our interview at the arena, Ballmer resembled this conviction. "A person told me once, 'No person ever before definitely has a baseball group. You take care of it. You shepherd it, as well as you carry it along,'" he states. "Intuit Dome can be a little of what I perform to shepherd this team along. Because it's had due to the supporters at the end of the time, and we just handle it." Are you an one-time chief executive officer in a 2nd act?Are you a former CEO who possesses located objective in your second process? Exactly how did you set about discovering your new identity? Send your knowledge and narratives to me at stephaniemehta@mansueto.com. I'll share the absolute most powerful instances in a future newsletter.Read and also enjoy extra: 2nd acts Put on the Most Cutting-edge Providers Honors as well as be actually identified as an institution steering the planet forward via technology. Early-rate deadline: Friday, August 23.