.Greetings and appreciated to Modern chief executive officer! I am actually Stephanie Mehta, CEO and also primary material officer of Mansueto Ventures. Each week this newsletter explores inclusive techniques to management drawn from discussions along with executives and also business people, and coming from the pages of Inc. and Quick Company. If you obtained this bulletin from a close friend, you may enroll to get it yourself every Monday morning.Being a chief executive officer nowadays is actually tough: Stress consist of fulfilling shareholders, handling rising costs as well as handling ongoing supply-chain concerns, and also developing great offices. But also for a lot of managers, being actually an ex-CEO provides its very own collection of problems. Some battle to deal with the reduction of the rewards and standing that come with the project, while others really feel obliged to follow the well-trodden course to private equity or even company boards." Annually, lots of execs relinquish long and also effective corporate professions. But few are organized the adventure they are about to plunge into," past Outpost Communications chief executive officer Maggie Wilderotter stated earlier this year in a Harvard Organization Assessment essay, penned along with job coach Rick Smith and headhunter Dennis Carey.Life beyond MicrosoftOne previous business chieftain that seems to have actually discovered his footing is past Microsoft CEO Steve Ballmer. Ballmer purchased the Los Angeles Clippers baseball group for $2 billion in 2014 and also only revealed the crew's new home, the Intuit Dome. (Quick Company calls it "Steve Ballmer's $ 2 billion playing field for LA Clippers supporters.") The group and also sector have offered Ballmer a sense of reason that possesses, somehow, overshadowed his expertises at the tech giant. "I have actually worked with a bunch of products throughout my profession at Microsoft, and I have actually liked all of them all," Ballmer informed me in the course of a job interview this month at Intuit Dome before a reader that featured participants of the Youthful Presidents' Association as well as building laborers that aided build the facility and also their family members. "But ... in the advancement of this property, I probably had a clearer viewpoint of what I wanted to do, and also I have the best total satisfaction, certainly not just because it thrived, but [considering that] it is actually an assets in the area, as well." Intuit Dome has quite been actually an interest task for Ballmer, who looked for to make sure that all supporters have a costs experience. Every chair is created with very easy accessibility to deals and restrooms, phone demanding abilities, and also ample lower leg space, irrespective of ticket price.Ballmer's substantial investments are repaying. The Clippers won 51 video games in the 2023-2024 period, and finished fourth in the NBA Western Association. (The Dallas Mavericks got rid of the group from the playoffs.) And Ballmer repeatedly places being one of the best NBA proprietors in enthusiast polls.He is actually an unlikely good example for post-CEO lifestyle. His retirement coming from Microsoft in 2014 after 34 years at the firm and also thirteen years as CEO was actually psychological as well as tangled up. Though revenues virtually tripled throughout his period, the stock practically went stale, and also the provider overlooked the opportunity to end up being a player in mobile devices and internet solutions. Under the gun coming from the firm's panel, Ballmer found to overhaul the firm prior to eventually choosing he was actually certainly not the most ideal person to move Microsoft onward. A reporter who recorded his retirement from Microsoft explained him as "quite sad to leave behind the provider." CEO, reinventedPart of what makes Ballmer a second-act excellence tale is that he really did not try to reproduce his company life. Instead, he took possession of a chance to acquire the Clippers after previous co-owner Donald Sterling was banned coming from managing the team or even linking with the NBA. "Having a lot of options may cause choice fatigue, changing to default possibilities, or even staying away from choosing entirely," Wilderotter and her co-authors mention, encouraging ex-CEOs to instead redefine their purpose or identification. (Ballmer is additionally owner of USAFacts, a detached records company.) Costs George, the past Medtronic CEO that modify themself as a management authority after retired life, has stated that the former Chief executive officers that flourish are actually the ones who find ways "to produce or even nurture things that will definitely outlast all of them." During the course of our job interview at the field, Ballmer resembled this view. "A person told me once, 'No person ever before truly owns a basketball staff. You handle it. You shepherd it, and you carry it along,'" he says. "Intuit Dome may be a little of what I perform to shepherd this group along. Due to the fact that it's had by the followers at the end of the time, and also our team only care for it." Are you a single CEO in a second act?Are you a past chief executive officer who possesses found objective in your second act? Just how performed you tackle finding your new identity? Deliver your ideas as well as anecdotes to me at stephaniemehta@mansueto.com. I'll share one of the most powerful examples in a potential newsletter.Read and check out extra: 2nd process Put on the best Ingenious Firms Awards and also be recognized as a company steering the planet ahead with innovation. Early-rate target date: Friday, August 23.