.Hi and welcome to Modern chief executive officer! I am actually Stephanie Mehta, CEO and also chief content police officer of Mansueto Ventures. Every week this newsletter explores broad approaches to leadership drawn from discussions along with execs and business people, as well as from the web pages of Inc. and Prompt Provider. If you got this newsletter coming from a good friend, you can easily register to acquire it yourself every Monday morning.Being a CEO in these times is actually challenging: Stress include delighting shareholders, managing climbing prices and also fixing recurring supply-chain problems, and developing wonderful offices. But for numerous managers, being actually an ex-CEO provides its very own collection of difficulties. Some struggle to manage the loss of the benefits as well as standing that include the work, while others feel obliged to comply with the well-trodden pathway to exclusive equity or even corporate panels." Each year, thousands of execs retire from lengthy and successful corporate professions. However few are actually gotten ready for the quest they are about to embark on," previous Frontier Communications chief executive officer Maggie Wilderotter declared previously this year in a Harvard Company Customer review essay, penciled along with occupation coach Rick Johnson and also talent scout Dennis Carey.Life beyond MicrosoftOne former company tribal chief that seems to have found his footing is former Microsoft chief executive officer Steve Ballmer. Ballmer acquired the Los Angeles Clippers baseball team for $2 billion in 2014 as well as just revealed the staff's brand new home, the Intuit Dome. (Fast Company calls it "Steve Ballmer's $ 2 billion recreation space for Los Angeles Clippers enthusiasts.") The staff and also field have offered Ballmer a sense of function that possesses, in some ways, shrouded his adventures at the technician giant. "I have actually worked on a bunch of items throughout my job at Microsoft, and also I've loved all of them all," Ballmer told me during the course of an interview this month at Intuit Dome before a reader that consisted of members of the Youthful Presidents' Organization as well as development laborers that aided create the establishment and their family members. "Yet ... in the advancement of the building, I possibly possessed a clearer view of what I wanted to carry out, and I possess the absolute most satisfaction, not even if it thrived, yet [since] it's an investment in the community, as well." Intuit Dome has actually quite been a passion task for Ballmer, that looked for to make sure that all enthusiasts have a fee expertise. Every seat is actually designed along with simple accessibility to giving ins and restrooms, phone billing capabilities, and enough leg area, no matter ticket price.Ballmer's substantial expenditures are actually settling. The Clippers gained 51 activities in the 2023-2024 time, and finished fourth in the NBA Western Association. (The Dallas Mavericks eliminated the group coming from the playoffs.) And Ballmer often rates as one of the best NBA managers in follower polls.He is actually an unexpected good example for post-CEO life. His retired life coming from Microsoft in 2014 after 34 years at the company and thirteen years as CEO was mental as well as tangled up. Though earnings almost tripled during his period, the stock basically went stale, as well as the firm overlooked the opportunity to end up being a player in cell phones and also internet companies. Under pressure coming from the company's panel, Ballmer found to remodel the provider prior to inevitably making a decision he was actually not the most ideal person to relocate Microsoft ahead. A media reporter who told his separation from Microsoft described him as "very depressing to leave behind the firm." CEO, reinventedPart of what helps make Ballmer a second-act results tale is actually that he failed to attempt to recreate his company lifestyle. Rather, he took possession of a chance to obtain the Clippers after previous co-owner Donald Sterling was actually banned from operating the group or relating to the NBA. "Possessing excessive selections can cause selection tiredness, going back to fail options, and even staying clear of choosing altogether," Wilderotter and also her co-authors claim, urging ex-CEOs to rather redefine their objective or identity. (Ballmer is actually additionally founder of USAFacts, a nonpartisan information company.) Bill George, the past Medtronic chief executive officer who modify himself as a management expert after retired life, has actually said that the former Chief executive officers that flourish are actually the ones who discover methods "to create or even nurture points that will outlive them." In the course of our interview at the field, Ballmer reflected this belief. "Someone informed me once, 'Nobody ever actually has a basketball crew. You handle it. You shepherd it, as well as you take it along,'" he states. "Intuit Dome could be a little bit of what I perform to shepherd this group throughout. Considering that it's owned due to the fans in the end of the time, and our team just take care of it." Are you an one-time CEO in a 2nd act?Are you a previous CEO who has discovered purpose in your 2nd process? Exactly how did you tackle locating your new identification? Deliver your insights as well as stories to me at stephaniemehta@mansueto.com. I'll share the most engaging instances in a potential newsletter.Read and view even more: second process Apply to the Most Impressive Companies Awards as well as be realized as an institution steering the planet onward via advancement. Early-rate deadline: Friday, August 23.