.Hello there and also appreciated to Modern chief executive officer! I'm Stephanie Mehta, chief executive officer as well as primary satisfied policeman of Mansueto Ventures. Each week this email list checks out broad methods to management reasoned chats along with executives and entrepreneurs, and also from the webpages of Inc. as well as Fast Business. If you received this newsletter from a pal, you can easily join to receive it yourself every Monday morning.Being a chief executive officer these days is actually tough: Tensions feature pleasing investors, managing climbing costs and handling on-going supply-chain issues, as well as developing wonderful offices. But for lots of execs, being actually an ex-CEO provides its very own collection of challenges. Some struggle to manage the loss of the rewards and condition that feature the work, while others feel required to observe the well-trodden path to private equity or even company panels." Yearly, thousands of execs retire from long and also effective business occupations. Yet couple of are organized the trip they are about to plunge into," previous Frontier Communications chief executive officer Maggie Wilderotter proclaimed earlier this year in a Harvard Service Assessment essay, penned along with job trainer Rick Johnson and headhunter Dennis Carey.Life past MicrosoftOne former business big shot that seems to be to have actually discovered his ground is actually former Microsoft CEO Steve Ballmer. Ballmer acquired the Los Angeles Clippers basketball crew for $2 billion in 2014 and also simply introduced the team's brand-new home, the Intuit Dome. (Quick Firm calls it "Steve Ballmer's $ 2 billion play ground for Los Angeles Clippers enthusiasts.") The crew and arena have actually offered Ballmer a sense of function that has, somehow, darkened his adventures at the specialist titan. "I've worked on a lot of items over the course of my occupation at Microsoft, as well as I have actually liked them all," Ballmer told me in the course of an interview this month at Intuit Dome before a target market that consisted of participants of the Young Presidents' Association as well as building employees who helped develop the amenities as well as their households. "But ... in the progression of this structure, I perhaps had a more clear viewpoint of what I wanted to do, and I have one of the most total satisfaction, not even if it thrived, yet [since] it's an expenditure in the neighborhood, also." Intuit Dome has very much been a passion venture for Ballmer, who found to ensure that all followers possess a fee expertise. Every seat is actually designed along with effortless access to concessions and also shower rooms, phone asking for functionalities, as well as adequate lower leg room, regardless of ticket price.Ballmer's significant investments are actually settling. The Clippers gained 51 activities in the 2023-2024 time, and finished 4th in the NBA Western Event. (The Dallas Mavericks got rid of the team coming from the playoffs.) As well as Ballmer regularly places as one of the leading NBA managers in fan polls.He is actually a not likely shining example for post-CEO life. His retirement coming from Microsoft in 2014 after 34 years at the company and also 13 years as chief executive officer was actually mental and laden. Though incomes virtually tripled during the course of his period, the share practically went stale, and the provider missed the possibility to end up being a player in mobile devices and internet companies. Under pressure from the firm's board, Ballmer found to spruce up the provider just before inevitably choosing he was not the greatest person to move Microsoft ahead. A reporter who chronicled his departure from Microsoft described him as "very unfortunate to leave behind the company." CHIEF EXECUTIVE OFFICER, reinventedPart of what makes Ballmer a second-act effectiveness story is actually that he really did not try to recreate his corporate life. Instead, he seized a possibility to acquire the Clippers after previous co-owner Donald Sterling was actually outlawed from managing the team or relating to the NBA. "Possessing too many options can cause selection exhaustion, returning to fail alternatives, or even preventing deciding entirely," Wilderotter as well as her co-authors say, recommending ex-CEOs to instead redefine their function or identity. (Ballmer is likewise owner of USAFacts, a detached information firm.) Costs George, the former Medtronic CEO that modify themself as a leadership master after retirement life, has actually mentioned that the former CEOs who flourish are the ones who find means "to create or nurture things that are going to outlast them." During our interview at the stadium, Ballmer resembled this belief. "Somebody informed me the moment, 'No one ever really has a baseball team. You handle it. You shepherd it, as well as you carry it along,'" he says. "Intuit Dome can be a small amount of what I carry out to shepherd this staff throughout. Given that it is actually had due to the enthusiasts at the end of the day, and also our team just take care of it." Are you a single chief executive officer in a second act?Are you a former CEO who has located function in your 2nd process? Exactly how performed you tackle finding your brand-new identification? Deliver your understandings and anecdotes to me at stephaniemehta@mansueto.com. I'll share the most convincing examples in a future newsletter.Read and enjoy extra: 2nd acts Put on the Most Ingenious Companies Honors and also be realized as an association driving the planet onward with technology. Early-rate deadline: Friday, August 23.