.Hi as well as welcome to Modern chief executive officer! I am actually Stephanie Mehta, CEO and also main content officer of Mansueto Ventures. Weekly this bulletin discovers inclusive strategies to leadership reasoned talks along with execs and entrepreneurs, as well as from the web pages of Inc. and Fast Provider. If you obtained this e-newsletter from a good friend, you can enroll to obtain it your own self every Monday morning.Being a chief executive officer nowadays is challenging: Tensions include delighting investors, managing rising costs and also resolving recurring supply-chain issues, and also developing great offices. But also for lots of execs, being actually an ex-CEO presents its personal set of problems. Some battle to handle the reduction of the advantages and condition that feature the job, while others experience obliged to comply with the well-trodden road to exclusive equity or business boards." Each year, lots of executives retire from lengthy and also successful company occupations. Yet couple of are organized the trip they will plunge into," former Outpost Communications CEO Maggie Wilderotter announced previously this year in a Harvard Business Testimonial essay, penciled with career train Rick Smith and also headhunter Dennis Carey.Life beyond MicrosoftOne previous company chieftain who seems to have located his ground is former Microsoft chief executive officer Steve Ballmer. Ballmer acquired the Los Angeles Clippers basketball crew for $2 billion in 2014 as well as only revealed the staff's new home, the Intuit Dome. (Quick Provider calls it "Steve Ballmer's $ 2 billion play ground for LA Clippers enthusiasts.") The staff and arena have actually provided Ballmer a feeling of objective that possesses, in some ways, eclipsed his knowledge at the specialist titan. "I have actually dealt with a great deal of products throughout my occupation at Microsoft, as well as I have actually loved them all," Ballmer informed me in the course of an interview this month at Intuit Dome in front of a target market that included participants of the Young Presidents' Association in addition to construction workers that helped develop the location and their households. "However ... in the advancement of this particular building, I probably had a clearer viewpoint of what I would like to carry out, as well as I possess one of the most fulfillment, not even if it turned out well, but [because] it's an expenditure in the neighborhood, also." Intuit Dome has actually significantly been a passion project for Ballmer, who found to guarantee that all supporters have a fee expertise. Every seat is designed with effortless access to concessions and shower rooms, phone demanding capacities, as well as sufficient lower leg area, no matter ticket price.Ballmer's considerable assets are actually settling. The Clippers succeeded 51 games in the 2023-2024 period, and completed 4th in the NBA Western Conference. (The Dallas Mavericks got rid of the staff from the playoffs.) As well as Ballmer consistently rates as one of the leading NBA managers in supporter polls.He is actually an unlikely good example for post-CEO life. His retirement coming from Microsoft in 2014 after 34 years at the firm and also 13 years as chief executive officer was emotional and also tangled up. Though incomes virtually tripled during his tenure, the assets practically stood still, as well as the provider missed the possibility to end up being a player in smart phones and also world wide web companies. Struggling coming from the provider's board, Ballmer sought to revamp the business prior to ultimately making a decision he was actually certainly not the most ideal individual to relocate Microsoft forward. A reporter who chronicled his departure from Microsoft defined him as "incredibly unfortunate to leave behind the provider." CEO, reinventedPart of what produces Ballmer a second-act excellence tale is actually that he failed to try to recreate his corporate life. Somewhat, he took a chance to get the Clippers after previous co-owner Donald Sterling was outlawed from operating the staff or linking with the NBA. "Having a lot of selections may trigger choice tiredness, going back to default alternatives, or even steering clear of choosing entirely," Wilderotter as well as her co-authors mention, recommending ex-CEOs to as an alternative redefine their reason or identity. (Ballmer is likewise founder of USAFacts, a nonpartisan records company.) Expense George, the previous Medtronic chief executive officer who recast himself as a management master after retirement, has stated that the previous Chief executive officers that grow are actually the ones who discover ways "to create or even support factors that are going to outlive them." During the course of our meeting at the field, Ballmer resembled this view. "Somebody informed me the moment, 'No person ever before definitely has a basketball group. You handle it. You shepherd it, and also you bring it along,'" he says. "Intuit Dome may be a small amount of what I carry out to shepherd this group throughout. Due to the fact that it's owned due to the supporters at the end of the time, as well as our company just care for it." Are you an one-time chief executive officer in a 2nd act?Are you a former chief executive officer that has located function in your 2nd action? Exactly how did you deal with locating your brand new identity? Send your knowledge as well as narratives to me at stephaniemehta@mansueto.com. I'll share one of the most powerful examples in a future newsletter.Read and check out a lot more: second process Relate to the best Innovative Providers Honors as well as be actually recognized as an association driving the planet onward via advancement. Early-rate due date: Friday, August 23.