.Hello there as well as appreciated to Modern CEO! I'm Stephanie Mehta, chief executive officer and main material policeman of Mansueto Ventures. Each week this bulletin explores comprehensive methods to leadership drawn from chats with executives and business owners, and from the web pages of Inc. and also Quick Firm. If you acquired this e-newsletter from a buddy, you may join to receive it on your own every Monday morning.Being a chief executive officer these days is actually tough: Tensions include pleasing shareholders, taking care of climbing costs as well as addressing recurring supply-chain concerns, and generating wonderful place of work. But also for many execs, being actually an ex-CEO shows its very own set of problems. Some problem to cope with the reduction of the rewards and status that include the job, while others really feel obliged to follow the well-trodden pathway to exclusive equity or even company panels." Every year, hundreds of execs relinquish lengthy and productive corporate occupations. However handful of are prepared for the trip they will embark on," previous Outpost Communications CEO Maggie Wilderotter proclaimed previously this year in a Harvard Service Assessment essay, penned along with profession coach Rick Johnson as well as talent scout Dennis Carey.Life past MicrosoftOne previous company big shot that seems to have actually found his ground is former Microsoft CEO Steve Ballmer. Ballmer acquired the Los Angeles Clippers basketball crew for $2 billion in 2014 and also merely unveiled the team's brand new home, the Intuit Dome. (Quick Provider calls it "Steve Ballmer's $ 2 billion play area for Los Angeles Clippers supporters.") The group as well as arena have actually given Ballmer a feeling of objective that has, somehow, darkened his experiences at the tech giant. "I've serviced a lot of items throughout my occupation at Microsoft, and I've enjoyed all of them all," Ballmer informed me in the course of a meeting this month at Intuit Dome before a target market that included members of the Youthful Presidents' Organization along with building and construction workers who assisted build the center and their families. "However ... in the progression of the structure, I possibly had a more clear sight of what I intended to do, and also I have one of the most complete satisfaction, certainly not just because it thrived, yet [due to the fact that] it's an investment in the area, as well." Intuit Dome has actually significantly been an enthusiasm task for Ballmer, who looked for to guarantee that all followers have a superior experience. Every seat is actually made along with easy accessibility to giving ins as well as shower rooms, phone demanding abilities, and also plenty of leg space, despite ticket price.Ballmer's sizable assets are actually paying. The Clippers gained 51 games in the 2023-2024 time, as well as finished fourth in the NBA Western Event. (The Dallas Mavericks dealt with the crew from the playoffs.) And Ballmer repeatedly places as being one of the top NBA owners in supporter polls.He is an improbable role model for post-CEO life. His retirement from Microsoft in 2014 after 34 years at the provider and also thirteen years as CEO was actually psychological and also filled. Though revenues almost tripled in the course of his tenure, the equity generally stagnated, and the firm missed out on the chance to become a player in mobile devices as well as web companies. Struggling coming from the business's panel, Ballmer sought to overhaul the company before inevitably making a decision he was certainly not the greatest individual to move Microsoft onward. A media reporter who told his separation from Microsoft described him as "incredibly unfortunate to leave behind the company." CEO, reinventedPart of what produces Ballmer a second-act effectiveness story is that he didn't attempt to recreate his company life. Rather, he took an option to get the Clippers after previous co-owner Donald Sterling was banned coming from managing the group or even connecting with the NBA. "Possessing excessive choices can cause choice exhaustion, reverting to skip alternatives, or perhaps steering clear of choosing entirely," Wilderotter as well as her co-authors say, recommending ex-CEOs to instead redefine their reason or identification. (Ballmer is actually additionally founder of USAFacts, a nonpartisan data provider.) Costs George, the past Medtronic CEO that modify himself as a management master after retired life, has mentioned that the past CEOs who prosper are actually the ones who find ways "to make or even support factors that will certainly outlive them." Throughout our meeting at the field, Ballmer reflected this feeling. "Someone informed me when, 'No one ever really possesses a baseball group. You handle it. You shepherd it, and also you deliver it along,'" he points out. "Intuit Dome can be a little bit of what I do to shepherd this staff throughout. Since it's possessed due to the followers by the end of the day, and also our experts merely look after it." Are you a single chief executive officer in a 2nd act?Are you a previous CEO who possesses located function in your second action? How did you deal with discovering your brand new identification? Deliver your knowledge as well as narratives to me at stephaniemehta@mansueto.com. I'll share the absolute most powerful examples in a potential newsletter.Read as well as watch a lot more: second acts Apply to the absolute most Innovative Business Honors and also be acknowledged as an institution driving the world onward through advancement. Early-rate deadline: Friday, August 23.