.Hey there and appreciated to Modern chief executive officer! I'm Stephanie Mehta, chief executive officer as well as primary material officer of Mansueto Ventures. Each week this newsletter discovers broad methods to leadership drawn from discussions along with executives as well as business people, as well as from the pages of Inc. as well as Quick Provider. If you got this newsletter from a buddy, you can join to get it yourself every Monday morning.Being a CEO in these times is tough: Tensions feature delighting shareholders, handling rising expenses as well as dealing with on-going supply-chain problems, and also generating excellent work environments. But for lots of executives, being actually an ex-CEO provides its own set of challenges. Some struggle to handle the reduction of the advantages as well as condition that come with the work, while others feel required to adhere to the well-trodden pathway to personal equity or even corporate panels." Annually, 1000s of execs relinquish long as well as successful corporate careers. Yet couple of are organized the experience they will embark on," former Outpost Communications CEO Maggie Wilderotter stated previously this year in a Harvard Business Assessment essay, penciled with career train Rick Johnson and also talent scout Dennis Carey.Life past MicrosoftOne former corporate chieftain that appears to have found his ground is former Microsoft CEO Steve Ballmer. Ballmer bought the Los Angeles Clippers basketball staff for $2 billion in 2014 as well as simply unveiled the crew's new home, the Intuit Dome. (Quick Firm calls it "Steve Ballmer's $ 2 billion playground for LA Clippers enthusiasts.") The group as well as field have offered Ballmer a sense of purpose that possesses, in some ways, shrouded his adventures at the technician giant. "I've worked on a bunch of items throughout my occupation at Microsoft, and also I've enjoyed them all," Ballmer told me throughout an interview this month at Intuit Dome before a viewers that consisted of participants of the Youthful Presidents' Institution along with construction workers that aided construct the amenities and also their loved ones. "But ... in the growth of this building, I possibly possessed a more clear perspective of what I would like to perform, as well as I have one of the most fulfillment, not just because it turned out well, yet [because] it's a financial investment in the community, also." Intuit Dome has actually significantly been actually a passion task for Ballmer, who looked for to make sure that all supporters have a fee knowledge. Every chair is actually developed with simple access to deals as well as restrooms, phone charging abilities, and also sufficient leg room, despite ticket price.Ballmer's substantial financial investments are settling. The Clippers succeeded 51 video games in the 2023-2024 season, and completed 4th in the NBA Western Event. (The Dallas Mavericks eliminated the crew coming from the playoffs.) And also Ballmer consistently rates as being one of the top NBA owners in follower polls.He is an unexpected shining example for post-CEO life. His retirement from Microsoft in 2014 after 34 years at the business and thirteen years as chief executive officer was mental and also stuffed. Though incomes virtually tripled during his tenure, the stock basically stood still, as well as the business missed out on the possibility to become a gamer in mobile devices as well as world wide web services. Struggling coming from the firm's board, Ballmer looked for to revamp the provider before inevitably making a decision he was actually not the most ideal person to move Microsoft onward. A press reporter who chronicled his separation from Microsoft illustrated him as "extremely unfortunate to leave the provider." CEO, reinventedPart of what creates Ballmer a second-act effectiveness account is actually that he didn't choose to recreate his company life. Rather, he took possession of a chance to obtain the Clippers after previous co-owner Donald Sterling was actually disallowed from operating the crew or even connecting with the NBA. "Possessing too many choices can easily cause decision fatigue, changing to fail choices, or maybe steering clear of making a decision completely," Wilderotter and her co-authors state, suggesting ex-CEOs to rather redefine their function or identity. (Ballmer is likewise creator of USAFacts, a nonpartisan records business.) Bill George, the past Medtronic CEO who recast himself as a leadership guru after retirement life, has mentioned that the former Chief executive officers who grow are actually the ones that locate techniques "to make or support points that will outlive them." During our meeting at the arena, Ballmer resembled this view. "Somebody told me when, 'No person ever before definitely has a basketball group. You care for it. You shepherd it, as well as you take it along,'" he mentions. "Intuit Dome may be a small amount of what I do to shepherd this crew along. Since it's owned by the enthusiasts in the end of the day, as well as we just handle it." Are you a single CEO in a 2nd act?Are you a former chief executive officer who possesses found function in your 2nd action? How did you tackle locating your brand-new identity? Send your insights and also narratives to me at stephaniemehta@mansueto.com. I'll share the most engaging examples in a potential newsletter.Read as well as watch much more: second acts Put on the Most Innovative Business Honors as well as be realized as an institution steering the planet forward through advancement. Early-rate target date: Friday, August 23.