.Hello there as well as appreciated to Modern chief executive officer! I am actually Stephanie Mehta, CEO and chief content officer of Mansueto Ventures. Every week this bulletin explores inclusive techniques to leadership reasoned conversations along with execs as well as business owners, as well as from the webpages of Inc. and also Swift Firm. If you obtained this email list from a pal, you can easily register to obtain it on your own every Monday morning.Being a chief executive officer nowadays is actually tough: Pressures feature pleasing shareholders, dealing with rising prices and also resolving recurring supply-chain problems, and also generating wonderful offices. But also for lots of execs, being an ex-CEO provides its own set of difficulties. Some battle to handle the reduction of the perks as well as condition that possess the job, while others really feel obliged to observe the well-trodden path to personal equity or even company boards." Every year, 1000s of managers retire from lengthy and also prosperous business professions. However few are actually organized the adventure they will embark on," past Frontier Communications chief executive officer Maggie Wilderotter stated previously this year in a Harvard Organization Review essay, penned with profession train Rick Smith and also talent scout Dennis Carey.Life past MicrosoftOne past business chieftain that appears to have discovered his footing is previous Microsoft CEO Steve Ballmer. Ballmer purchased the Los Angeles Clippers basketball crew for $2 billion in 2014 and also only revealed the crew's brand-new home, the Intuit Dome. (Prompt Company calls it "Steve Ballmer's $ 2 billion playground for LA Clippers fans.") The team as well as field have actually given Ballmer a feeling of purpose that has, in some ways, eclipsed his expertises at the specialist giant. "I have actually dealt with a bunch of products over the course of my career at Microsoft, and also I've loved all of them all," Ballmer informed me during an interview this month at Intuit Dome in front of a target market that included participants of the Youthful Presidents' Company as well as development employees that assisted construct the location and their loved ones. "However ... in the progression of this particular structure, I possibly had a more clear sight of what I intended to perform, and I possess the most fulfillment, certainly not just because it prospered, however [considering that] it's an assets in the area, as well." Intuit Dome has quite been actually an enthusiasm venture for Ballmer, who found to guarantee that all fans possess a costs expertise. Every seat is actually designed with quick and easy access to deals as well as shower rooms, phone charging capacities, and also ample lower leg room, irrespective of ticket price.Ballmer's sizable investments are actually paying off. The Clippers gained 51 activities in the 2023-2024 time, as well as ended up fourth in the NBA Western Association. (The Dallas Mavericks dealt with the group coming from the playoffs.) And also Ballmer repeatedly places as one of the top NBA owners in enthusiast polls.He is actually an extremely unlikely shining example for post-CEO life. His retirement coming from Microsoft in 2014 after 34 years at the company and also thirteen years as CEO was psychological as well as fraught. Though incomes virtually tripled during his tenure, the stock practically went stale, and the business missed out on the possibility to end up being a player in cell phones as well as internet companies. Under pressure coming from the provider's panel, Ballmer looked for to spruce up the business before essentially making a decision he was certainly not the best person to move Microsoft onward. A press reporter that recorded his departure from Microsoft illustrated him as "very sad to leave the provider." CEO, reinventedPart of what produces Ballmer a second-act excellence account is actually that he didn't try to recreate his company life. Instead, he seized an opportunity to acquire the Clippers after previous co-owner Donald Sterling was banned coming from managing the crew or linking with the NBA. "Having too many options may trigger selection exhaustion, reverting to fail choices, and even avoiding making a decision altogether," Wilderotter as well as her co-authors claim, suggesting ex-CEOs to rather redefine their purpose or identification. (Ballmer is likewise owner of USAFacts, a nonpartisan data company.) Expense George, the past Medtronic chief executive officer who modify himself as a management authority after retirement, has pointed out that the previous CEOs who prosper are actually the ones that locate techniques "to make or even support points that are going to outlive all of them." Throughout our job interview at the field, Ballmer resembled this belief. "Someone informed me once, 'No person ever actually owns a basketball staff. You look after it. You shepherd it, and also you take it along,'" he mentions. "Intuit Dome could be a small amount of what I carry out to shepherd this crew throughout. Since it's owned due to the fans at the end of the time, and our company just take care of it." Are you a single CEO in a second act?Are you a previous chief executive officer who possesses discovered purpose in your second process? Exactly how did you engage in finding your brand-new identity? Send your knowledge and also narratives to me at stephaniemehta@mansueto.com. I'll share the best powerful instances in a future newsletter.Read and watch even more: second process Put on the absolute most Impressive Providers Awards as well as be identified as an institution steering the planet ahead with development. Early-rate target date: Friday, August 23.