.Hello there and invited to Modern chief executive officer! I'm Stephanie Mehta, chief executive officer and also primary satisfied officer of Mansueto Ventures. Weekly this e-newsletter explores comprehensive approaches to leadership drawn from discussions with managers as well as business people, and from the web pages of Inc. and Fast Provider. If you received this e-newsletter coming from a friend, you can register to acquire it your own self every Monday morning.Being a CEO in these times is challenging: Pressures consist of fulfilling investors, handling increasing expenses and also handling on-going supply-chain issues, and creating wonderful workplaces. However, for several managers, being an ex-CEO presents its very own collection of problems. Some struggle to cope with the reduction of the rewards as well as standing that possess the job, while others feel required to follow the well-trodden course to personal equity or even corporate boards." Yearly, countless managers relinquish long and also successful company careers. Yet handful of are actually organized the trip they will embark on," former Frontier Communications CEO Maggie Wilderotter stated earlier this year in a Harvard Company Assessment essay, penciled along with occupation instructor Rick Smith and also headhunter Dennis Carey.Life beyond MicrosoftOne previous corporate chieftain who appears to have located his footing is actually previous Microsoft chief executive officer Steve Ballmer. Ballmer got the Los Angeles Clippers baseball staff for $2 billion in 2014 and also only revealed the group's brand-new home, the Intuit Dome. (Swift Provider calls it "Steve Ballmer's $ 2 billion playground for LA Clippers enthusiasts.") The team as well as field have actually provided Ballmer a feeling of objective that possesses, in some ways, eclipsed his adventures at the technology giant. "I've worked on a ton of products throughout my career at Microsoft, as well as I've liked all of them all," Ballmer informed me during the course of a meeting this month at Intuit Dome facing a viewers that featured members of the Young Presidents' Organization along with construction employees that helped create the location and also their family members. "Yet ... in the progression of this structure, I perhaps had a clearer view of what I intended to do, and also I possess the absolute most satisfaction, not just because it prospered, however [considering that] it is actually an expenditure in the neighborhood, as well." Intuit Dome has actually quite been actually an interest job for Ballmer, that sought to ensure that all supporters have a fee expertise. Every seat is designed along with quick and easy access to concessions and also washrooms, phone asking for capabilities, as well as plenty of lower leg space, no matter ticket price.Ballmer's considerable expenditures are actually repaying. The Clippers succeeded 51 games in the 2023-2024 season, as well as finished fourth in the NBA Western Event. (The Dallas Mavericks dealt with the team coming from the playoffs.) And Ballmer consistently positions being one of the best NBA proprietors in fan polls.He is actually an extremely unlikely good example for post-CEO life. His retirement coming from Microsoft in 2014 after 34 years at the firm and thirteen years as chief executive officer was emotional and stuffed. Though revenues nearly tripled in the course of his tenure, the assets essentially stagnated, and the firm missed the opportunity to end up being a gamer in mobile phones and web services. Under the gun coming from the business's panel, Ballmer sought to renew the provider prior to ultimately choosing he was not the best person to move Microsoft ahead. A media reporter that chronicled his parting coming from Microsoft defined him as "very unfortunate to leave the firm." CEO, reinventedPart of what helps make Ballmer a second-act excellence tale is actually that he really did not try to recreate his corporate life. Somewhat, he confiscated an opportunity to acquire the Clippers after previous co-owner Donald Sterling was outlawed from operating the crew or even associating with the NBA. "Possessing a lot of options can easily bring about decision fatigue, reverting to fail choices, or perhaps preventing making a decision entirely," Wilderotter and also her co-authors mention, recommending ex-CEOs to instead redefine their purpose or even identification. (Ballmer is actually also creator of USAFacts, a nonpartisan data firm.) Bill George, the former Medtronic CEO who recast himself as a leadership guru after retirement, has actually said that the past CEOs who grow are the ones who locate techniques "to make or support factors that are going to outlast them." During the course of our meeting at the field, Ballmer echoed this feeling. "A person told me once, 'No person ever before truly possesses a basketball crew. You deal with it. You shepherd it, and you bring it along,'" he mentions. "Intuit Dome can be a little bit of what I perform to shepherd this team along. Since it's had due to the followers in the end of the day, and our company only deal with it." Are you an one-time chief executive officer in a second act?Are you a former chief executive officer that has located function in your second action? How did you engage in locating your new identity? Deliver your understandings and also narratives to me at stephaniemehta@mansueto.com. I'll discuss the absolute most compelling examples in a potential newsletter.Read and also enjoy more: second acts Apply to the best Ingenious Business Honors as well as be actually realized as an organization driving the globe ahead through development. Early-rate target date: Friday, August 23.