.Hello and appreciated to Modern chief executive officer! I am actually Stephanie Mehta, CEO and primary material policeman of Mansueto Ventures. Every week this e-newsletter discovers broad techniques to leadership drawn from chats with executives and also entrepreneurs, and also coming from the pages of Inc. and also Swift Firm. If you acquired this bulletin coming from a pal, you can easily join to obtain it on your own every Monday morning.Being a CEO in these times is actually hard: Stress include delighting investors, handling climbing prices and resolving continuous supply-chain problems, as well as making fantastic workplaces. But also for numerous managers, being an ex-CEO offers its very own set of difficulties. Some battle to cope with the reduction of the advantages and also status that possess the work, while others feel obliged to observe the well-trodden path to personal equity or company panels." Each year, 1000s of executives retire from long and successful business jobs. But couple of are actually prepared for the journey they are about to start," past Frontier Communications chief executive officer Maggie Wilderotter declared earlier this year in a Harvard Business Assessment essay, penciled with occupation train Rick Johnson as well as talent scout Dennis Carey.Life beyond MicrosoftOne former corporate big shot who appears to have actually located his footing is past Microsoft CEO Steve Ballmer. Ballmer purchased the Los Angeles Clippers basketball group for $2 billion in 2014 and also just introduced the crew's new home, the Intuit Dome. (Prompt Provider calls it "Steve Ballmer's $ 2 billion recreation space for Los Angeles Clippers fans.") The staff and also arena have actually given Ballmer a feeling of purpose that possesses, somehow, darkened his adventures at the technology giant. "I have actually dealt with a great deal of items over the course of my profession at Microsoft, and I've liked them all," Ballmer told me during an interview this month at Intuit Dome facing a viewers that included participants of the Young Presidents' Organization in addition to construction workers who helped create the establishment and their households. "But ... in the advancement of this particular building, I probably possessed a more clear sight of what I would like to carry out, and also I have one of the most total satisfaction, certainly not just because it turned out well, however [considering that] it is actually a financial investment in the community, also." Intuit Dome has quite been actually an interest job for Ballmer, that found to make certain that all fans possess a costs knowledge. Every chair is developed along with very easy accessibility to deals and shower rooms, phone charging functionalities, and also ample leg space, regardless of ticket price.Ballmer's considerable assets are repaying. The Clippers gained 51 video games in the 2023-2024 time, as well as finished fourth in the NBA Western Conference. (The Dallas Mavericks removed the staff coming from the playoffs.) And Ballmer often rates as being one of the best NBA managers in follower polls.He is an improbable shining example for post-CEO life. His retirement life coming from Microsoft in 2014 after 34 years at the provider and thirteen years as chief executive officer was psychological as well as filled. Though profits almost tripled in the course of his period, the stock essentially went stale, as well as the firm missed the opportunity to become a gamer in smart phones as well as internet companies. Struggling coming from the business's panel, Ballmer looked for to remodel the company prior to eventually making a decision he was not the most ideal individual to relocate Microsoft onward. A reporter that chronicled his retirement coming from Microsoft explained him as "extremely unfortunate to leave behind the provider." CEO, reinventedPart of what helps make Ballmer a second-act excellence account is actually that he really did not try to recreate his company lifestyle. Somewhat, he took a chance to obtain the Clippers after previous co-owner Donald Sterling was banned from running the team or even linking with the NBA. "Having too many choices can cause decision fatigue, reverting to default possibilities, or perhaps steering clear of making a decision altogether," Wilderotter and also her co-authors point out, recommending ex-CEOs to rather redefine their function or even identity. (Ballmer is actually likewise owner of USAFacts, a detached data firm.) Bill George, the former Medtronic chief executive officer that recast themself as a management guru after retired life, has actually stated that the former CEOs that grow are the ones that locate methods "to generate or even nurture things that are going to outlast all of them." In the course of our meeting at the arena, Ballmer resembled this sentiment. "Someone told me when, 'No one ever before really possesses a basketball crew. You take care of it. You shepherd it, and also you bring it along,'" he mentions. "Intuit Dome may be a little bit of what I carry out to shepherd this crew throughout. Given that it is actually possessed due to the enthusiasts at the end of the time, and also our experts just take care of it." Are you a single CEO in a 2nd act?Are you a past CEO that possesses discovered reason in your second act? Exactly how did you go about discovering your brand new identification? Send your knowledge and narratives to me at stephaniemehta@mansueto.com. I'll share one of the most powerful examples in a future newsletter.Read and watch extra: 2nd actions Apply to the absolute most Innovative Companies Honors and also be actually realized as an institution driving the world ahead with advancement. Early-rate target date: Friday, August 23.