.Hello as well as invited to Modern chief executive officer! I'm Stephanie Mehta, chief executive officer and primary material policeman of Mansueto Ventures. Each week this newsletter explores comprehensive approaches to leadership reasoned discussions along with executives as well as entrepreneurs, and also coming from the pages of Inc. as well as Swift Firm. If you acquired this e-newsletter coming from a good friend, you may subscribe to receive it yourself every Monday morning.Being a chief executive officer in these times is actually hard: Tensions feature delighting shareholders, taking care of climbing costs and also fixing recurring supply-chain issues, as well as making wonderful place of work. However, for numerous managers, being actually an ex-CEO offers its very own set of difficulties. Some problem to deal with the loss of the rewards as well as condition that possess the task, while others really feel obliged to comply with the well-trodden pathway to private equity or business panels." Yearly, thousands of execs relinquish lengthy and also successful company occupations. However few are actually organized the adventure they are about to embark on," former Frontier Communications chief executive officer Maggie Wilderotter stated earlier this year in a Harvard Service Testimonial essay, penned with career trainer Rick Johnson and also talent scout Dennis Carey.Life beyond MicrosoftOne past business tribal chief who seems to have actually found his footing is actually past Microsoft CEO Steve Ballmer. Ballmer acquired the Los Angeles Clippers baseball team for $2 billion in 2014 and also simply revealed the crew's new home, the Intuit Dome. (Rapid Provider calls it "Steve Ballmer's $ 2 billion play ground for Los Angeles Clippers followers.") The crew as well as arena have provided Ballmer a sense of reason that possesses, somehow, shrouded his adventures at the tech titan. "I have actually worked with a lot of items throughout my occupation at Microsoft, and I have actually liked all of them all," Ballmer informed me during a meeting this month at Intuit Dome before a reader that consisted of participants of the Young Presidents' Organization as well as building workers that helped develop the amenities and their family members. "But ... in the development of this particular property, I possibly had a clearer viewpoint of what I intended to perform, and also I possess the absolute most complete satisfaction, not even if it turned out well, but [considering that] it's an expenditure in the area, as well." Intuit Dome has actually very much been actually a passion job for Ballmer, that looked for to ensure that all supporters have a costs expertise. Every seat is actually created with effortless accessibility to deals and also bathrooms, phone asking for abilities, and substantial lower leg area, irrespective of ticket price.Ballmer's sizable assets are repaying. The Clippers won 51 games in the 2023-2024 period, as well as ended up fourth in the NBA Western Association. (The Dallas Mavericks did away with the staff from the playoffs.) And also Ballmer routinely ranks as being one of the best NBA proprietors in fan polls.He is actually an unexpected role model for post-CEO lifestyle. His retired life from Microsoft in 2014 after 34 years at the firm as well as 13 years as CEO was mental as well as stuffed. Though incomes almost tripled throughout his period, the equity essentially stood still, and the business missed the option to come to be a gamer in smart phones and world wide web companies. Under the gun coming from the business's panel, Ballmer found to renew the firm prior to essentially making a decision he was actually not the most ideal individual to relocate Microsoft onward. A reporter that narrated his separation coming from Microsoft illustrated him as "extremely sad to leave the provider." CEO, reinventedPart of what produces Ballmer a second-act excellence story is actually that he didn't choose to recreate his business lifestyle. Somewhat, he confiscated an option to obtain the Clippers after previous co-owner Donald Sterling was banned coming from managing the team or relating to the NBA. "Possessing too many options can cause choice tiredness, changing to skip choices, or even avoiding deciding entirely," Wilderotter and also her co-authors mention, recommending ex-CEOs to as an alternative redefine their reason or identity. (Ballmer is actually likewise owner of USAFacts, a nonpartisan records firm.) Expense George, the former Medtronic CEO that modify themself as a leadership authority after retirement, has actually mentioned that the past Chief executive officers who grow are actually the ones that discover ways "to create or even support things that are going to outlive all of them." During the course of our job interview at the field, Ballmer echoed this view. "A person told me as soon as, 'No one ever really owns a basketball team. You handle it. You shepherd it, as well as you bring it along,'" he points out. "Intuit Dome could be a little of what I do to shepherd this staff along. Considering that it's possessed due to the followers by the end of the time, and also our company only deal with it." Are you an one-time chief executive officer in a 2nd act?Are you a past chief executive officer that has discovered function in your second action? Exactly how did you engage in locating your new identification? Send your understandings and narratives to me at stephaniemehta@mansueto.com. I'll share the absolute most convincing instances in a future newsletter.Read and also check out extra: second acts Relate to the Most Innovative Business Honors and be realized as a company steering the world onward with technology. Early-rate due date: Friday, August 23.