.Hi there and also invited to Modern chief executive officer! I am actually Stephanie Mehta, chief executive officer as well as chief content officer of Mansueto Ventures. Weekly this bulletin discovers comprehensive methods to management reasoned conversations with executives and also entrepreneurs, and also from the pages of Inc. and also Quick Firm. If you received this bulletin coming from a friend, you may join to receive it your own self every Monday morning.Being a CEO in these times is actually tough: Pressures feature satisfying investors, taking care of increasing costs and resolving on-going supply-chain concerns, as well as making fantastic place of work. However, for many managers, being an ex-CEO shows its personal set of problems. Some problem to cope with the loss of the rewards and also status that come with the job, while others experience obliged to adhere to the well-trodden road to exclusive equity or even business boards." Every year, countless managers retire from lengthy and also prosperous corporate careers. However few are actually prepared for the experience they will embark on," previous Outpost Communications CEO Maggie Wilderotter stated previously this year in a Harvard Company Review essay, penciled along with occupation instructor Rick Smith and also headhunter Dennis Carey.Life past MicrosoftOne previous corporate chieftain that seems to have actually located his ground is actually former Microsoft CEO Steve Ballmer. Ballmer got the Los Angeles Clippers baseball staff for $2 billion in 2014 as well as merely introduced the team's new home, the Intuit Dome. (Prompt Firm calls it "Steve Ballmer's $ 2 billion play area for Los Angeles Clippers followers.") The staff and also sector have given Ballmer a feeling of function that has, in some ways, darkened his expertises at the specialist titan. "I have actually worked on a great deal of products throughout my career at Microsoft, and I have actually enjoyed all of them all," Ballmer informed me during the course of a meeting this month at Intuit Dome facing a reader that consisted of members of the Youthful Presidents' Organization in addition to building and construction laborers who assisted develop the center and also their households. "However ... in the progression of this building, I probably possessed a more clear scenery of what I intended to do, as well as I possess one of the most fulfillment, certainly not even if it thrived, but [since] it is actually a financial investment in the community, also." Intuit Dome has very much been an interest venture for Ballmer, that looked for to make certain that all followers have a costs knowledge. Every seat is developed along with very easy accessibility to deals and also shower rooms, phone billing functionalities, and also substantial lower leg area, no matter ticket price.Ballmer's sizable assets are actually paying. The Clippers won 51 video games in the 2023-2024 period, and also completed 4th in the NBA Western Association. (The Dallas Mavericks removed the crew from the playoffs.) As well as Ballmer consistently rates being one of the top NBA owners in fan polls.He is an extremely unlikely shining example for post-CEO life. His retirement from Microsoft in 2014 after 34 years at the provider and also 13 years as chief executive officer was actually psychological as well as laden. Though revenues nearly tripled during his tenure, the equity practically stagnated, and also the firm missed the opportunity to end up being a player in mobile phones and net companies. Under the gun coming from the company's panel, Ballmer found to spruce up the business prior to eventually making a decision he was actually certainly not the most ideal person to relocate Microsoft forward. A press reporter that chronicled his separation from Microsoft described him as "extremely depressing to leave the firm." CEO, reinventedPart of what helps make Ballmer a second-act excellence tale is that he really did not attempt to reproduce his corporate lifestyle. Rather, he confiscated an opportunity to obtain the Clippers after previous co-owner Donald Sterling was prohibited coming from managing the group or even relating to the NBA. "Possessing excessive options can easily lead to selection fatigue, returning to fail possibilities, or even preventing choosing altogether," Wilderotter and her co-authors say, encouraging ex-CEOs to instead redefine their reason or even identification. (Ballmer is actually additionally creator of USAFacts, a nonpartisan information business.) Expense George, the previous Medtronic CEO who modify themself as a management guru after retired life, has actually pointed out that the past Chief executive officers who prosper are the ones that locate ways "to create or nourish things that will outlast them." In the course of our meeting at the stadium, Ballmer reflected this view. "A person told me once, 'No one ever before actually has a basketball team. You handle it. You shepherd it, and also you carry it along,'" he says. "Intuit Dome can be a little bit of what I do to shepherd this staff throughout. Because it is actually had due to the fans in the end of the day, and our experts merely deal with it." Are you a single CEO in a 2nd act?Are you a previous chief executive officer that possesses found objective in your 2nd action? Just how did you engage in locating your new identity? Deliver your ideas and also stories to me at stephaniemehta@mansueto.com. I'll discuss one of the most convincing instances in a potential newsletter.Read as well as watch more: 2nd actions Relate to one of the most Ingenious Providers Awards as well as be actually recognized as an organization steering the planet onward by means of development. Early-rate target date: Friday, August 23.