.Hey there as well as welcome to Modern chief executive officer! I am actually Stephanie Mehta, chief executive officer and also main material policeman of Mansueto Ventures. Weekly this e-newsletter looks into inclusive approaches to leadership drawn from talks with executives and also entrepreneurs, and also from the webpages of Inc. and also Prompt Firm. If you obtained this e-newsletter coming from a good friend, you can register to obtain it your own self every Monday morning.Being a chief executive officer in today times is difficult: Tensions include satisfying investors, handling climbing costs and also dealing with on-going supply-chain concerns, and creating terrific work environments. But also for numerous executives, being actually an ex-CEO shows its very own collection of problems. Some problem to deal with the reduction of the rewards and condition that possess the task, while others really feel obliged to observe the well-trodden pathway to private equity or even company boards." Every year, countless managers relinquish long and productive business professions. However few are gotten ready for the quest they are about to plunge into," past Outpost Communications chief executive officer Maggie Wilderotter declared earlier this year in a Harvard Service Assessment essay, penciled along with career coach Rick Johnson and headhunter Dennis Carey.Life past MicrosoftOne past corporate chieftain who appears to have located his footing is previous Microsoft CEO Steve Ballmer. Ballmer bought the Los Angeles Clippers basketball team for $2 billion in 2014 and only introduced the staff's brand new home, the Intuit Dome. (Fast Provider calls it "Steve Ballmer's $ 2 billion playing field for Los Angeles Clippers fans.") The group and field have actually given Ballmer a feeling of objective that has, in some ways, overshadowed his experiences at the specialist titan. "I've worked with a considerable amount of items over the course of my career at Microsoft, and I have actually loved them all," Ballmer informed me during a job interview this month at Intuit Dome in front of a reader that featured participants of the Youthful Presidents' Institution in addition to construction employees that aided create the location and their family members. "Yet ... in the progression of the property, I probably possessed a clearer scenery of what I would like to do, and I have the most satisfaction, not even if it thrived, however [given that] it is actually an assets in the area, also." Intuit Dome has significantly been an enthusiasm job for Ballmer, that found to guarantee that all followers possess a costs knowledge. Every chair is developed along with effortless access to deals and restrooms, phone billing abilities, and substantial leg space, irrespective of ticket price.Ballmer's sizable expenditures are paying. The Clippers gained 51 activities in the 2023-2024 season, as well as completed fourth in the NBA Western Event. (The Dallas Mavericks did away with the group coming from the playoffs.) As well as Ballmer routinely places as one of the best NBA proprietors in fan polls.He is actually an improbable role model for post-CEO life. His retired life from Microsoft in 2014 after 34 years at the provider and thirteen years as CEO was mental and also filled. Though revenues nearly tripled throughout his period, the assets generally went stale, and also the company missed out on the option to become a gamer in mobile phones and also web solutions. Struggling coming from the business's board, Ballmer looked for to remodel the company just before ultimately deciding he was not the most ideal person to relocate Microsoft forward. A reporter who recorded his parting from Microsoft defined him as "really unfortunate to leave behind the business." CHIEF EXECUTIVE OFFICER, reinventedPart of what makes Ballmer a second-act success tale is that he didn't attempt to reproduce his company lifestyle. Rather, he took possession of a chance to get the Clippers after previous co-owner Donald Sterling was actually disallowed coming from operating the team or associating with the NBA. "Possessing too many selections can lead to selection fatigue, reverting to default possibilities, or maybe preventing choosing altogether," Wilderotter as well as her co-authors state, recommending ex-CEOs to rather redefine their objective or even identification. (Ballmer is likewise owner of USAFacts, a detached information business.) Expense George, the past Medtronic chief executive officer that modify himself as a leadership master after retirement life, has said that the past Chief executive officers that flourish are actually the ones that find methods "to produce or even nurture things that are going to outlive them." During our interview at the field, Ballmer resembled this feeling. "A person told me once, 'No one ever before definitely possesses a baseball crew. You care for it. You shepherd it, and you deliver it along,'" he says. "Intuit Dome may be a little of what I perform to shepherd this staff throughout. Because it's had by the enthusiasts by the end of the day, as well as our experts only deal with it." Are you a single CEO in a 2nd act?Are you a former CEO that has discovered purpose in your second action? Exactly how did you tackle discovering your new identity? Deliver your knowledge and also narratives to me at stephaniemehta@mansueto.com. I'll share the most powerful instances in a potential newsletter.Read as well as view much more: 2nd acts Apply to the best Impressive Providers Honors and also be identified as an institution driving the planet forward with development. Early-rate target date: Friday, August 23.