.Hello and welcome to Modern chief executive officer! I'm Stephanie Mehta, chief executive officer as well as chief material officer of Mansueto Ventures. Every week this newsletter checks out broad techniques to leadership reasoned discussions with managers and also business owners, as well as coming from the pages of Inc. as well as Rapid Firm. If you received this bulletin from a good friend, you may subscribe to acquire it on your own every Monday morning.Being a chief executive officer in today times is actually challenging: Stress feature fulfilling investors, handling rising expenses as well as handling recurring supply-chain concerns, and making excellent offices. However, for lots of executives, being an ex-CEO provides its personal set of problems. Some battle to handle the loss of the perks as well as standing that come with the task, while others experience obliged to follow the well-trodden path to personal equity or even corporate boards." Yearly, 1000s of execs retire from long and also prosperous company jobs. Yet handful of are actually gotten ready for the journey they are about to plunge into," previous Outpost Communications chief executive officer Maggie Wilderotter declared previously this year in a Harvard Organization Assessment essay, penned along with job train Rick Johnson and headhunter Dennis Carey.Life past MicrosoftOne previous company tribal chief who appears to have located his footing is former Microsoft CEO Steve Ballmer. Ballmer bought the Los Angeles Clippers baseball staff for $2 billion in 2014 and merely revealed the team's new home, the Intuit Dome. (Quick Firm calls it "Steve Ballmer's $ 2 billion play ground for Los Angeles Clippers fans.") The staff and also arena have actually given Ballmer a feeling of purpose that has, in some ways, shrouded his expertises at the technology giant. "I have actually worked on a great deal of items over the course of my profession at Microsoft, as well as I've liked all of them all," Ballmer told me throughout an interview this month at Intuit Dome in front of a target market that featured participants of the Youthful Presidents' Association and also building workers that aided create the location as well as their loved ones. "However ... in the advancement of this particular building, I most likely possessed a clearer perspective of what I intended to perform, and I possess the best fulfillment, certainly not even if it prospered, yet [considering that] it's an assets in the community, as well." Intuit Dome has actually very much been an interest job for Ballmer, who sought to guarantee that all enthusiasts have a fee expertise. Every chair is actually made along with quick and easy access to giving ins and washrooms, phone charging capacities, and also adequate lower leg space, regardless of ticket price.Ballmer's substantial expenditures are actually paying. The Clippers won 51 activities in the 2023-2024 period, and also ended up 4th in the NBA Western Event. (The Dallas Mavericks dealt with the crew coming from the playoffs.) And Ballmer routinely ranks as being one of the best NBA proprietors in follower polls.He is an unexpected good example for post-CEO lifestyle. His retirement life from Microsoft in 2014 after 34 years at the business as well as 13 years as CEO was psychological and also laden. Though incomes nearly tripled throughout his period, the equity generally stood still, as well as the firm missed out on the opportunity to come to be a player in cell phones and web services. Struggling coming from the business's board, Ballmer found to revamp the firm before eventually deciding he was actually not the most effective person to move Microsoft onward. A media reporter that recorded his separation coming from Microsoft illustrated him as "extremely unfortunate to leave the firm." CHIEF EXECUTIVE OFFICER, reinventedPart of what creates Ballmer a second-act effectiveness account is that he didn't choose to recreate his corporate lifestyle. Rather, he took possession of a possibility to get the Clippers after previous co-owner Donald Sterling was prohibited from operating the staff or even linking with the NBA. "Possessing way too many selections may bring about decision tiredness, reverting to skip options, or maybe staying away from making a decision completely," Wilderotter and also her co-authors state, advising ex-CEOs to as an alternative redefine their objective or identification. (Ballmer is actually likewise founder of USAFacts, a detached data firm.) Costs George, the former Medtronic chief executive officer who recast himself as a leadership authority after retired life, has mentioned that the former Chief executive officers that grow are actually the ones who find techniques "to create or even support things that will definitely outlive all of them." During our job interview at the stadium, Ballmer echoed this belief. "Somebody told me when, 'No one ever before actually owns a basketball group. You look after it. You shepherd it, and also you bring it along,'" he claims. "Intuit Dome can be a bit of what I carry out to shepherd this group throughout. Considering that it is actually possessed by the supporters by the end of the day, and also our experts merely look after it." Are you a single CEO in a 2nd act?Are you a former chief executive officer who has located purpose in your 2nd process? Just how performed you tackle discovering your brand new identification? Send your insights and stories to me at stephaniemehta@mansueto.com. I'll discuss the most compelling instances in a future newsletter.Read as well as enjoy extra: second process Put on one of the most Cutting-edge Business Honors and also be actually acknowledged as an association steering the globe forward with advancement. Early-rate target date: Friday, August 23.