.Hello there and appreciated to Modern CEO! I am actually Stephanie Mehta, chief executive officer and also main material officer of Mansueto Ventures. Each week this newsletter explores comprehensive techniques to leadership drawn from conversations with executives and business people, and coming from the webpages of Inc. as well as Quick Business. If you received this newsletter from a friend, you can join to receive it on your own every Monday morning.Being a chief executive officer in these times is hard: Tensions consist of delighting investors, taking care of increasing expenses and solving recurring supply-chain issues, as well as creating great workplaces. However, for several managers, being an ex-CEO presents its own set of challenges. Some struggle to handle the reduction of the advantages and status that possess the task, while others really feel obliged to observe the well-trodden path to personal equity or even corporate panels." Each year, 1000s of managers retire from long and also productive business occupations. But few are gotten ready for the trip they will start," previous Frontier Communications chief executive officer Maggie Wilderotter announced earlier this year in a Harvard Company Review essay, penciled along with career trainer Rick Johnson and also talent scout Dennis Carey.Life beyond MicrosoftOne past business tribal chief that seems to have located his ground is past Microsoft CEO Steve Ballmer. Ballmer got the Los Angeles Clippers baseball crew for $2 billion in 2014 and merely introduced the team's new home, the Intuit Dome. (Rapid Company calls it "Steve Ballmer's $ 2 billion playing field for LA Clippers fans.") The group and sector have actually offered Ballmer a feeling of function that has, somehow, darkened his experiences at the technician giant. "I've serviced a great deal of products over the course of my career at Microsoft, and also I've liked them all," Ballmer informed me throughout an interview this month at Intuit Dome before a viewers that consisted of members of the Youthful Presidents' Institution as well as building workers that aided construct the amenities and also their families. "However ... in the progression of the structure, I most likely had a clearer sight of what I intended to carry out, and also I have the best contentment, certainly not even if it turned out well, however [since] it's a financial investment in the neighborhood, too." Intuit Dome has very much been an enthusiasm venture for Ballmer, who sought to guarantee that all fans have a costs expertise. Every seat is made along with quick and easy accessibility to deals and also bathrooms, phone demanding abilities, and also adequate leg area, despite ticket price.Ballmer's sizable investments are settling. The Clippers gained 51 video games in the 2023-2024 time, and ended up fourth in the NBA Western Event. (The Dallas Mavericks dealt with the team from the playoffs.) As well as Ballmer often ranks as one of the best NBA managers in enthusiast polls.He is an improbable role model for post-CEO life. His retired life coming from Microsoft in 2014 after 34 years at the business as well as 13 years as chief executive officer was emotional as well as fraught. Though earnings almost tripled during the course of his period, the equity essentially went stale, as well as the business skipped the option to end up being a gamer in cell phones and net services. Under pressure coming from the company's board, Ballmer found to remodel the provider just before eventually choosing he was not the best person to relocate Microsoft ahead. A press reporter that told his parting from Microsoft described him as "really unfortunate to leave behind the company." CEO, reinventedPart of what makes Ballmer a second-act effectiveness story is that he didn't try to recreate his company life. Somewhat, he confiscated a chance to obtain the Clippers after previous co-owner Donald Sterling was actually prohibited coming from operating the crew or even associating with the NBA. "Having too many selections can easily bring about selection fatigue, changing to fail possibilities, or perhaps staying clear of deciding entirely," Wilderotter as well as her co-authors point out, advising ex-CEOs to as an alternative redefine their purpose or even identity. (Ballmer is also founder of USAFacts, a detached data company.) Bill George, the previous Medtronic chief executive officer that recast himself as a management authority after retirement life, has actually said that the previous Chief executive officers that flourish are actually the ones that locate techniques "to develop or even nourish points that will definitely outlive all of them." In the course of our meeting at the field, Ballmer resembled this sentiment. "Someone told me when, 'No person ever actually possesses a basketball crew. You look after it. You shepherd it, as well as you deliver it along,'" he points out. "Intuit Dome may be a little bit of what I carry out to shepherd this team throughout. Since it is actually owned due to the followers at the end of the day, and also we only look after it." Are you an one-time CEO in a second act?Are you a past CEO who possesses found function in your 2nd act? Just how did you handle locating your brand new identification? Send your ideas and narratives to me at stephaniemehta@mansueto.com. I'll share the most powerful examples in a potential newsletter.Read and also view even more: 2nd process Apply to the absolute most Impressive Business Honors and be actually acknowledged as a company steering the globe ahead via technology. Early-rate target date: Friday, August 23.