.Hi as well as welcome to Modern chief executive officer! I am actually Stephanie Mehta, chief executive officer and main content police officer of Mansueto Ventures. Every week this email list explores broad methods to management reasoned conversations with execs and entrepreneurs, and also coming from the webpages of Inc. and also Prompt Company. If you obtained this newsletter from a close friend, you can join to obtain it your own self every Monday morning.Being a CEO at presents is actually difficult: Pressures consist of satisfying shareholders, taking care of increasing expenses as well as solving ongoing supply-chain issues, and also producing excellent workplaces. But also for numerous executives, being an ex-CEO provides its very own collection of challenges. Some problem to cope with the loss of the perks and status that come with the job, while others really feel obliged to comply with the well-trodden path to exclusive equity or even business panels." Every year, thousands of managers relinquish long and also effective corporate professions. However few are organized the trip they are about to plunge into," former Outpost Communications CEO Maggie Wilderotter proclaimed earlier this year in a Harvard Business Evaluation essay, penned along with job coach Rick Smith as well as headhunter Dennis Carey.Life beyond MicrosoftOne past business big shot that seems to be to have located his ground is actually previous Microsoft chief executive officer Steve Ballmer. Ballmer purchased the Los Angeles Clippers basketball staff for $2 billion in 2014 as well as just introduced the crew's brand-new home, the Intuit Dome. (Swift Business calls it "Steve Ballmer's $ 2 billion play ground for Los Angeles Clippers fans.") The team as well as field have actually given Ballmer a sense of reason that possesses, somehow, eclipsed his experiences at the technician giant. "I've focused on a lot of products throughout my job at Microsoft, as well as I've loved all of them all," Ballmer told me during the course of a meeting this month at Intuit Dome facing a reader that featured members of the Young Presidents' Organization in addition to development employees who assisted construct the establishment and their households. "Yet ... in the advancement of this building, I most likely possessed a clearer viewpoint of what I wanted to do, and I have the best contentment, not even if it thrived, however [since] it's an assets in the neighborhood, too." Intuit Dome has significantly been an interest task for Ballmer, who sought to guarantee that all fans possess a superior experience. Every chair is designed with very easy access to deals and washrooms, phone asking for capacities, and plenty of lower leg room, no matter ticket price.Ballmer's sizable expenditures are actually repaying. The Clippers won 51 games in the 2023-2024 season, and finished fourth in the NBA Western Conference. (The Dallas Mavericks eliminated the group coming from the playoffs.) And also Ballmer consistently rates being one of the best NBA owners in follower polls.He is an extremely unlikely good example for post-CEO lifestyle. His retirement life coming from Microsoft in 2014 after 34 years at the business and thirteen years as chief executive officer was actually emotional as well as filled. Though profits almost tripled during his period, the stock practically stood still, and also the firm overlooked the chance to end up being a player in cell phones and also web services. Struggling coming from the provider's board, Ballmer found to renew the firm just before essentially making a decision he was actually not the most effective person to relocate Microsoft onward. A reporter who recorded his separation from Microsoft described him as "very unfortunate to leave behind the firm." CHIEF EXECUTIVE OFFICER, reinventedPart of what helps make Ballmer a second-act success tale is that he failed to choose to recreate his company life. Rather, he confiscated an option to obtain the Clippers after previous co-owner Donald Sterling was outlawed from managing the staff or linking with the NBA. "Having too many options may result in decision exhaustion, going back to default options, and even preventing making a decision completely," Wilderotter as well as her co-authors state, urging ex-CEOs to instead redefine their objective or identification. (Ballmer is likewise creator of USAFacts, a nonpartisan data firm.) Costs George, the previous Medtronic chief executive officer who recast himself as a leadership guru after retired life, has mentioned that the previous Chief executive officers that flourish are the ones that discover techniques "to develop or nurture things that are going to outlast all of them." During the course of our job interview at the stadium, Ballmer echoed this conviction. "Somebody informed me once, 'No one ever before really possesses a baseball staff. You deal with it. You shepherd it, as well as you deliver it along,'" he mentions. "Intuit Dome may be a bit of what I perform to shepherd this team along. Considering that it is actually had by the followers at the end of the day, and our experts simply take care of it." Are you an one-time CEO in a second act?Are you a past CEO who has found reason in your second process? Exactly how performed you engage in discovering your brand-new identity? Send your knowledge as well as anecdotes to me at stephaniemehta@mansueto.com. I'll share the most convincing examples in a future newsletter.Read and also view extra: 2nd acts Put on the Most Innovative Companies Honors and be actually recognized as a company steering the world onward via advancement. Early-rate target date: Friday, August 23.