.Greetings and also invited to Modern chief executive officer! I am actually Stephanie Mehta, CEO and also main satisfied officer of Mansueto Ventures. Weekly this email list looks into comprehensive strategies to leadership reasoned talks along with managers and entrepreneurs, and also coming from the web pages of Inc. and Rapid Firm. If you got this e-newsletter coming from a buddy, you may join to obtain it yourself every Monday morning.Being a CEO in today times is actually difficult: Pressures feature delighting shareholders, handling increasing prices as well as dealing with on-going supply-chain problems, as well as producing great workplaces. However, for lots of execs, being an ex-CEO offers its very own collection of difficulties. Some struggle to deal with the loss of the advantages and also standing that feature the project, while others feel required to follow the well-trodden road to private equity or even business boards." Annually, thousands of managers relinquish long as well as prosperous business professions. But handful of are gotten ready for the journey they will plunge into," past Frontier Communications CEO Maggie Wilderotter proclaimed previously this year in a Harvard Service Assessment essay, penciled along with occupation trainer Rick Smith and headhunter Dennis Carey.Life past MicrosoftOne previous business chieftain who seems to have located his ground is former Microsoft CEO Steve Ballmer. Ballmer acquired the Los Angeles Clippers basketball staff for $2 billion in 2014 and also just introduced the staff's new home, the Intuit Dome. (Rapid Firm calls it "Steve Ballmer's $ 2 billion playground for Los Angeles Clippers enthusiasts.") The staff and sector have given Ballmer a feeling of purpose that has, in some ways, eclipsed his experiences at the technician titan. "I have actually serviced a considerable amount of items over the course of my occupation at Microsoft, and I've liked them all," Ballmer informed me during the course of a meeting this month at Intuit Dome before a viewers that featured members of the Youthful Presidents' Institution along with construction workers that helped build the facility and their family members. "Yet ... in the growth of the structure, I perhaps possessed a more clear viewpoint of what I desired to carry out, and I have the most fulfillment, certainly not even if it turned out well, however [considering that] it's a financial investment in the community, as well." Intuit Dome has actually significantly been actually an interest project for Ballmer, that looked for to ensure that all enthusiasts have a premium experience. Every seat is actually made along with simple access to giving ins as well as restrooms, phone demanding capacities, and sufficient lower leg space, regardless of ticket price.Ballmer's substantial investments are paying off. The Clippers won 51 games in the 2023-2024 period, and finished 4th in the NBA Western Association. (The Dallas Mavericks eliminated the team from the playoffs.) And also Ballmer consistently positions as one of the top NBA managers in enthusiast polls.He is an unlikely shining example for post-CEO lifestyle. His retired life coming from Microsoft in 2014 after 34 years at the company and also 13 years as CEO was actually mental and filled. Though revenues almost tripled in the course of his period, the stock generally went stale, and the company skipped the opportunity to become a gamer in mobile phones and also internet companies. Under the gun from the provider's panel, Ballmer found to spruce up the business prior to ultimately deciding he was actually certainly not the most effective person to relocate Microsoft onward. A media reporter who recorded his parting from Microsoft defined him as "quite sad to leave behind the firm." CHIEF EXECUTIVE OFFICER, reinventedPart of what makes Ballmer a second-act results tale is that he failed to choose to reproduce his corporate life. Somewhat, he seized an opportunity to get the Clippers after previous co-owner Donald Sterling was outlawed coming from operating the group or connecting with the NBA. "Possessing excessive choices may lead to selection exhaustion, returning to skip choices, or perhaps staying away from making a decision altogether," Wilderotter and also her co-authors claim, advising ex-CEOs to rather redefine their reason or identity. (Ballmer is likewise creator of USAFacts, a nonpartisan records firm.) Expense George, the former Medtronic chief executive officer that recast himself as a management master after retirement, has actually mentioned that the former Chief executive officers that thrive are the ones that locate ways "to generate or nourish things that will definitely outlive them." In the course of our job interview at the field, Ballmer echoed this belief. "Somebody told me once, 'Nobody ever actually owns a baseball team. You handle it. You shepherd it, and you carry it along,'" he mentions. "Intuit Dome can be a little bit of what I carry out to shepherd this staff along. Due to the fact that it is actually had due to the supporters in the end of the day, and also our experts just handle it." Are you an one-time chief executive officer in a 2nd act?Are you a past chief executive officer who possesses found purpose in your 2nd act? How performed you handle discovering your new identity? Send your insights and anecdotes to me at stephaniemehta@mansueto.com. I'll discuss one of the most powerful examples in a potential newsletter.Read and also view more: 2nd acts Relate to the absolute most Cutting-edge Business Honors and be acknowledged as an association driving the world forward through innovation. Early-rate deadline: Friday, August 23.