.Hey there and also appreciated to Modern chief executive officer! I'm Stephanie Mehta, chief executive officer as well as primary satisfied officer of Mansueto Ventures. Each week this newsletter looks into broad techniques to leadership drawn from discussions along with execs and business owners, and also from the web pages of Inc. and Prompt Provider. If you acquired this bulletin coming from a good friend, you may sign up to get it your own self every Monday morning.Being a chief executive officer in these times is difficult: Stress consist of pleasing shareholders, taking care of increasing expenses and also handling recurring supply-chain issues, and also generating excellent workplaces. However, for a lot of execs, being actually an ex-CEO shows its very own set of difficulties. Some problem to deal with the loss of the perks as well as condition that feature the job, while others feel required to follow the well-trodden pathway to personal equity or even corporate boards." Annually, countless managers relinquish lengthy and productive business occupations. Yet few are actually organized the adventure they are about to plunge into," past Outpost Communications CEO Maggie Wilderotter proclaimed earlier this year in a Harvard Business Assessment essay, penned with career train Rick Johnson as well as talent scout Dennis Carey.Life beyond MicrosoftOne previous business chieftain that appears to have found his footing is previous Microsoft CEO Steve Ballmer. Ballmer bought the Los Angeles Clippers baseball crew for $2 billion in 2014 as well as only unveiled the group's new home, the Intuit Dome. (Swift Business calls it "Steve Ballmer's $ 2 billion play ground for LA Clippers supporters.") The team and field have provided Ballmer a sense of objective that possesses, somehow, eclipsed his knowledge at the tech titan. "I've dealt with a lot of products over the course of my occupation at Microsoft, and also I have actually adored all of them all," Ballmer informed me during an interview this month at Intuit Dome in front of an audience that included participants of the Youthful Presidents' Association along with construction employees that assisted construct the center and also their family members. "But ... in the progression of this property, I most likely possessed a more clear viewpoint of what I would like to carry out, as well as I possess one of the most contentment, not just because it turned out well, yet [because] it is actually a financial investment in the neighborhood, also." Intuit Dome has actually significantly been a passion task for Ballmer, who sought to make sure that all enthusiasts possess a fee experience. Every chair is created along with quick and easy accessibility to deals and restrooms, phone charging functionalities, and sufficient leg space, regardless of ticket price.Ballmer's significant expenditures are actually paying off. The Clippers won 51 activities in the 2023-2024 time, and also finished 4th in the NBA Western Association. (The Dallas Mavericks removed the team from the playoffs.) As well as Ballmer repeatedly places as one of the top NBA owners in follower polls.He is actually an improbable shining example for post-CEO lifestyle. His retirement from Microsoft in 2014 after 34 years at the firm and also thirteen years as chief executive officer was emotional and also tangled up. Though earnings almost tripled during his period, the equity essentially went stale, and the company skipped the chance to end up being a player in mobile phones and also web companies. Under the gun from the business's board, Ballmer found to renew the provider just before ultimately deciding he was actually not the most ideal individual to move Microsoft forward. A media reporter that told his parting from Microsoft defined him as "quite depressing to leave the firm." CHIEF EXECUTIVE OFFICER, reinventedPart of what creates Ballmer a second-act excellence account is that he really did not choose to recreate his company lifestyle. Rather, he confiscated a chance to obtain the Clippers after previous co-owner Donald Sterling was outlawed from managing the team or even linking with the NBA. "Possessing excessive options can cause selection fatigue, going back to skip options, and even staying clear of choosing entirely," Wilderotter and her co-authors state, advising ex-CEOs to as an alternative redefine their purpose or even identity. (Ballmer is actually additionally creator of USAFacts, a nonpartisan records company.) Expense George, the previous Medtronic CEO that recast himself as a leadership authority after retirement, has actually claimed that the previous CEOs who grow are actually the ones who discover techniques "to produce or even support things that will definitely outlive all of them." During the course of our meeting at the field, Ballmer reflected this view. "A person told me when, 'No one ever before really owns a baseball crew. You look after it. You shepherd it, as well as you deliver it along,'" he states. "Intuit Dome can be a little bit of what I perform to shepherd this team throughout. Given that it's possessed due to the followers at the end of the time, and our team simply deal with it." Are you an one-time CEO in a second act?Are you a former chief executive officer who possesses discovered reason in your 2nd act? Just how did you handle locating your brand new identification? Send your insights as well as stories to me at stephaniemehta@mansueto.com. I'll share one of the most engaging examples in a potential newsletter.Read as well as see even more: second actions Put on the absolute most Innovative Business Honors and be acknowledged as an association driving the globe onward by means of innovation. Early-rate deadline: Friday, August 23.