.Greetings and welcome to Modern chief executive officer! I'm Stephanie Mehta, CEO and primary material police officer of Mansueto Ventures. Each week this bulletin checks out broad methods to leadership drawn from talks with execs as well as entrepreneurs, as well as from the webpages of Inc. and Fast Firm. If you received this e-newsletter coming from a pal, you may sign up to receive it your own self every Monday morning.Being a chief executive officer in today times is actually difficult: Tensions include delighting shareholders, handling rising costs as well as addressing continuous supply-chain concerns, and developing fantastic work environments. But for lots of managers, being actually an ex-CEO shows its very own set of problems. Some problem to manage the loss of the advantages and condition that come with the job, while others feel required to adhere to the well-trodden course to private equity or company boards." Annually, hundreds of executives relinquish long as well as effective company careers. However couple of are planned for the quest they will start," former Outpost Communications chief executive officer Maggie Wilderotter declared previously this year in a Harvard Business Review essay, penciled with job coach Rick Johnson as well as talent scout Dennis Carey.Life past MicrosoftOne past corporate chieftain that seems to have discovered his footing is former Microsoft CEO Steve Ballmer. Ballmer purchased the Los Angeles Clippers basketball crew for $2 billion in 2014 and also simply revealed the team's brand new home, the Intuit Dome. (Swift Company calls it "Steve Ballmer's $ 2 billion playground for LA Clippers followers.") The group and arena have given Ballmer a feeling of purpose that possesses, in some ways, darkened his expertises at the technician giant. "I have actually worked on a great deal of items over the course of my career at Microsoft, as well as I've enjoyed all of them all," Ballmer informed me during a meeting this month at Intuit Dome before a viewers that consisted of participants of the Young Presidents' Company in addition to building workers that assisted create the amenities and their loved ones. "But ... in the progression of this building, I possibly possessed a more clear scenery of what I wished to carry out, as well as I possess the absolute most satisfaction, certainly not just because it prospered, yet [due to the fact that] it's an investment in the community, too." Intuit Dome has significantly been actually an enthusiasm job for Ballmer, who looked for to make sure that all followers possess a fee adventure. Every seat is designed with simple accessibility to deals and also shower rooms, phone billing abilities, as well as ample leg room, irrespective of ticket price.Ballmer's substantial investments are actually settling. The Clippers gained 51 video games in the 2023-2024 time, and completed fourth in the NBA Western Event. (The Dallas Mavericks got rid of the staff from the playoffs.) And also Ballmer consistently rates as one of the best NBA owners in fan polls.He is an unlikely role model for post-CEO life. His retirement from Microsoft in 2014 after 34 years at the business and also 13 years as chief executive officer was actually mental and laden. Though profits virtually tripled during the course of his period, the equity generally went stale, as well as the firm skipped the opportunity to come to be a player in mobile devices as well as net companies. Under pressure coming from the firm's board, Ballmer found to spruce up the provider before essentially deciding he was not the greatest individual to move Microsoft forward. A reporter that recorded his retirement coming from Microsoft illustrated him as "incredibly sad to leave behind the company." CEO, reinventedPart of what produces Ballmer a second-act success account is actually that he didn't try to reproduce his business lifestyle. Rather, he took an opportunity to get the Clippers after previous co-owner Donald Sterling was actually prohibited from operating the team or connecting with the NBA. "Having excessive choices may result in selection exhaustion, returning to fail alternatives, or even avoiding deciding completely," Wilderotter and also her co-authors mention, urging ex-CEOs to as an alternative redefine their objective or even identification. (Ballmer is actually additionally creator of USAFacts, a detached data business.) Expense George, the former Medtronic CEO who modify himself as a leadership master after retired life, has actually claimed that the former Chief executive officers that grow are the ones who locate techniques "to produce or even support points that will certainly outlast them." During our interview at the arena, Ballmer resembled this view. "A person informed me when, 'Nobody ever truly owns a basketball staff. You care for it. You shepherd it, and you bring it along,'" he points out. "Intuit Dome can be a bit of what I perform to shepherd this group throughout. Since it is actually had due to the supporters at the end of the time, as well as our experts only take care of it." Are you a single chief executive officer in a second act?Are you a previous chief executive officer who has discovered objective in your second process? Exactly how did you engage in finding your brand-new identification? Send your knowledge as well as narratives to me at stephaniemehta@mansueto.com. I'll share one of the most convincing instances in a potential newsletter.Read and check out even more: 2nd actions Put on the Most Cutting-edge Firms Honors as well as be identified as a company steering the planet ahead by means of development. Early-rate target date: Friday, August 23.