.Hi as well as welcome to Modern chief executive officer! I am actually Stephanie Mehta, CEO as well as main content officer of Mansueto Ventures. Each week this newsletter checks out comprehensive strategies to leadership drawn from chats with managers as well as business people, as well as from the webpages of Inc. and also Fast Company. If you got this bulletin from a friend, you can register to get it yourself every Monday morning.Being a CEO nowadays is actually challenging: Tensions feature fulfilling investors, taking care of climbing prices and addressing ongoing supply-chain problems, as well as producing fantastic place of work. But for lots of execs, being actually an ex-CEO offers its very own set of challenges. Some struggle to handle the reduction of the advantages as well as status that include the job, while others really feel required to follow the well-trodden road to private equity or even business boards." Annually, 1000s of execs retire from lengthy and prosperous business occupations. But handful of are prepared for the experience they will plunge into," previous Frontier Communications CEO Maggie Wilderotter declared previously this year in a Harvard Organization Review essay, penciled with job instructor Rick Smith and also headhunter Dennis Carey.Life beyond MicrosoftOne past company chieftain who appears to have actually located his ground is actually previous Microsoft CEO Steve Ballmer. Ballmer acquired the Los Angeles Clippers basketball team for $2 billion in 2014 as well as merely unveiled the staff's brand new home, the Intuit Dome. (Fast Business calls it "Steve Ballmer's $ 2 billion play area for Los Angeles Clippers fans.") The group as well as field have actually offered Ballmer a sense of purpose that has, in some ways, overshadowed his expertises at the tech titan. "I have actually focused on a considerable amount of products over the course of my profession at Microsoft, as well as I've enjoyed all of them all," Ballmer told me during an interview this month at Intuit Dome in front of a viewers that featured participants of the Youthful Presidents' Company along with building and construction employees who aided construct the amenities and their families. "However ... in the growth of this particular structure, I probably had a clearer perspective of what I desired to perform, and also I possess one of the most fulfillment, certainly not even if it turned out well, however [considering that] it is actually an investment in the neighborhood, also." Intuit Dome has actually significantly been an interest venture for Ballmer, that found to guarantee that all followers possess a superior knowledge. Every chair is actually created along with simple access to giving ins as well as bathrooms, phone demanding capacities, and substantial lower leg room, no matter ticket price.Ballmer's sizable assets are repaying. The Clippers succeeded 51 video games in the 2023-2024 period, as well as ended up fourth in the NBA Western Association. (The Dallas Mavericks did away with the crew coming from the playoffs.) And Ballmer regularly ranks being one of the leading NBA proprietors in fan polls.He is an unlikely role model for post-CEO life. His retired life from Microsoft in 2014 after 34 years at the firm and also thirteen years as chief executive officer was actually emotional and also filled. Though revenues almost tripled during the course of his period, the assets generally stood still, and also the firm skipped the possibility to end up being a player in mobile phones and world wide web companies. Struggling coming from the company's board, Ballmer looked for to spruce up the company just before essentially making a decision he was certainly not the most effective person to move Microsoft ahead. A reporter who narrated his parting coming from Microsoft explained him as "very sad to leave the business." CEO, reinventedPart of what creates Ballmer a second-act effectiveness story is that he really did not attempt to reproduce his business life. Instead, he took possession of an option to get the Clippers after previous co-owner Donald Sterling was actually outlawed coming from managing the team or even linking with the NBA. "Having excessive selections can easily bring about decision exhaustion, reverting to skip options, or perhaps staying clear of choosing completely," Wilderotter as well as her co-authors point out, encouraging ex-CEOs to instead redefine their objective or even identification. (Ballmer is also creator of USAFacts, a nonpartisan data business.) Costs George, the past Medtronic CEO that modify himself as a leadership authority after retirement, has actually said that the former Chief executive officers that thrive are the ones that locate ways "to make or even nourish points that will outlast them." During the course of our job interview at the field, Ballmer resembled this conviction. "Someone told me the moment, 'No one ever definitely owns a baseball crew. You deal with it. You shepherd it, and also you take it along,'" he points out. "Intuit Dome can be a small amount of what I perform to shepherd this crew along. Because it's had due to the fans at the end of the time, and our company just deal with it." Are you an one-time chief executive officer in a second act?Are you a previous chief executive officer who possesses located reason in your 2nd process? Exactly how performed you engage in finding your brand new identification? Send your ideas as well as narratives to me at stephaniemehta@mansueto.com. I'll discuss one of the most compelling examples in a potential newsletter.Read as well as see more: 2nd actions Relate to the absolute most Impressive Business Awards as well as be recognized as a company steering the world onward through technology. Early-rate deadline: Friday, August 23.