.Greetings and also welcome to Modern chief executive officer! I'm Stephanie Mehta, chief executive officer and also chief satisfied officer of Mansueto Ventures. Weekly this bulletin discovers broad approaches to management drawn from discussions with execs and entrepreneurs, as well as coming from the web pages of Inc. as well as Prompt Business. If you got this bulletin coming from a pal, you can sign up to acquire it your own self every Monday morning.Being a CEO at presents is challenging: Pressures include delighting shareholders, managing rising prices and also addressing recurring supply-chain problems, and also making terrific work environments. However, for many executives, being an ex-CEO offers its very own set of obstacles. Some problem to deal with the reduction of the advantages and standing that come with the job, while others experience required to follow the well-trodden course to exclusive equity or company panels." Each year, 1000s of managers relinquish long and also productive business professions. But few are actually prepared for the quest they will embark on," previous Frontier Communications chief executive officer Maggie Wilderotter proclaimed previously this year in a Harvard Company Review essay, penciled with career instructor Rick Johnson as well as talent scout Dennis Carey.Life beyond MicrosoftOne former company chieftain that appears to have found his ground is actually former Microsoft CEO Steve Ballmer. Ballmer acquired the Los Angeles Clippers baseball group for $2 billion in 2014 and only unveiled the crew's brand-new home, the Intuit Dome. (Quick Company calls it "Steve Ballmer's $ 2 billion playground for LA Clippers followers.") The group and field have given Ballmer a sense of objective that possesses, in some ways, darkened his adventures at the technology titan. "I've worked with a bunch of products over the course of my job at Microsoft, and I've loved them all," Ballmer told me in the course of a job interview this month at Intuit Dome in front of a viewers that consisted of members of the Youthful Presidents' Association along with building workers who assisted create the establishment and their households. "But ... in the growth of the structure, I most likely possessed a clearer viewpoint of what I would like to do, and also I have the absolute most contentment, not even if it turned out well, but [given that] it is actually an expenditure in the area, as well." Intuit Dome has significantly been actually an interest venture for Ballmer, who looked for to make certain that all followers have a costs experience. Every seat is created with quick and easy accessibility to giving ins and also bathrooms, phone asking for abilities, as well as enough lower leg room, despite ticket price.Ballmer's substantial investments are settling. The Clippers succeeded 51 video games in the 2023-2024 season, and completed 4th in the NBA Western Conference. (The Dallas Mavericks removed the crew coming from the playoffs.) And also Ballmer regularly positions as one of the leading NBA proprietors in fan polls.He is actually an improbable shining example for post-CEO life. His retirement life from Microsoft in 2014 after 34 years at the business as well as thirteen years as CEO was actually mental and also tangled up. Though profits virtually tripled during the course of his period, the share generally stagnated, and the provider missed the possibility to end up being a gamer in smart phones and also web services. Under pressure coming from the provider's panel, Ballmer found to revamp the provider just before ultimately choosing he was actually not the very best person to relocate Microsoft ahead. A media reporter that chronicled his parting from Microsoft illustrated him as "extremely saddening to leave the firm." CEO, reinventedPart of what creates Ballmer a second-act success story is that he really did not try to reproduce his business lifestyle. Somewhat, he seized an option to obtain the Clippers after previous co-owner Donald Sterling was actually disallowed from running the team or connecting with the NBA. "Possessing way too many selections may trigger choice fatigue, returning to default options, or maybe avoiding making a decision entirely," Wilderotter as well as her co-authors state, suggesting ex-CEOs to as an alternative redefine their reason or identity. (Ballmer is likewise creator of USAFacts, a nonpartisan information company.) Bill George, the past Medtronic CEO that recast themself as a leadership expert after retired life, has actually said that the former Chief executive officers who grow are the ones who locate means "to develop or even nourish points that will outlive all of them." During our job interview at the stadium, Ballmer reflected this sentiment. "Somebody told me the moment, 'Nobody ever before truly possesses a basketball team. You care for it. You shepherd it, and also you take it along,'" he says. "Intuit Dome can be a bit of what I carry out to shepherd this group along. Because it is actually had by the supporters at the end of the time, and we merely look after it." Are you an one-time chief executive officer in a second act?Are you a former chief executive officer that possesses discovered purpose in your 2nd action? How did you tackle discovering your brand new identification? Deliver your ideas and narratives to me at stephaniemehta@mansueto.com. I'll share one of the most convincing instances in a future newsletter.Read as well as watch a lot more: 2nd acts Apply to the best Ingenious Firms Honors and be acknowledged as a company driving the world onward through development. Early-rate deadline: Friday, August 23.