.Hey there and invited to Modern chief executive officer! I am actually Stephanie Mehta, CEO as well as main content officer of Mansueto Ventures. Each week this bulletin checks out broad techniques to leadership drawn from talks along with execs as well as entrepreneurs, and from the webpages of Inc. and Fast Company. If you got this e-newsletter coming from a friend, you can join to obtain it your own self every Monday morning.Being a chief executive officer these days is actually difficult: Stress include delighting investors, managing increasing expenses and also addressing recurring supply-chain concerns, as well as developing wonderful work environments. But also for a lot of executives, being an ex-CEO provides its own set of challenges. Some battle to cope with the reduction of the benefits and status that feature the project, while others experience obliged to comply with the well-trodden pathway to exclusive equity or business panels." Each year, countless managers retire from lengthy as well as prosperous business jobs. But few are actually planned for the trip they are about to embark on," former Outpost Communications CEO Maggie Wilderotter declared earlier this year in a Harvard Organization Customer review essay, penned along with occupation instructor Rick Smith and also talent scout Dennis Carey.Life beyond MicrosoftOne previous corporate chieftain who seems to be to have actually discovered his footing is actually former Microsoft chief executive officer Steve Ballmer. Ballmer bought the Los Angeles Clippers baseball staff for $2 billion in 2014 as well as only unveiled the staff's new home, the Intuit Dome. (Rapid Firm calls it "Steve Ballmer's $ 2 billion playing field for LA Clippers fans.") The crew and arena have offered Ballmer a feeling of function that has, somehow, darkened his knowledge at the tech giant. "I have actually worked on a considerable amount of products over the course of my career at Microsoft, as well as I've liked all of them all," Ballmer told me during the course of a meeting this month at Intuit Dome in front of a target market that consisted of participants of the Young Presidents' Company and also development laborers who helped create the facility and also their family members. "But ... in the development of the property, I probably had a more clear sight of what I desired to carry out, and also I have the most fulfillment, not just because it prospered, yet [because] it's an assets in the area, also." Intuit Dome has significantly been an interest task for Ballmer, that looked for to ensure that all fans have a fee knowledge. Every seat is actually developed along with effortless accessibility to giving ins as well as washrooms, phone charging functionalities, as well as ample leg area, no matter ticket price.Ballmer's sizable assets are repaying. The Clippers won 51 games in the 2023-2024 period, as well as ended up fourth in the NBA Western Conference. (The Dallas Mavericks removed the team from the playoffs.) As well as Ballmer repeatedly ranks being one of the best NBA proprietors in enthusiast polls.He is a not likely shining example for post-CEO lifestyle. His retirement coming from Microsoft in 2014 after 34 years at the provider and also 13 years as chief executive officer was psychological as well as fraught. Though profits almost tripled during the course of his tenure, the assets practically went stale, as well as the company skipped the option to become a player in mobile devices and also world wide web services. Under pressure from the business's board, Ballmer sought to revamp the firm just before ultimately making a decision he was actually not the very best individual to relocate Microsoft forward. A media reporter who told his departure from Microsoft illustrated him as "really sad to leave the provider." CHIEF EXECUTIVE OFFICER, reinventedPart of what produces Ballmer a second-act effectiveness story is that he failed to try to recreate his business life. Somewhat, he took an option to acquire the Clippers after previous co-owner Donald Sterling was actually disallowed from managing the staff or relating to the NBA. "Possessing excessive options may bring about selection tiredness, changing to default choices, or even steering clear of choosing completely," Wilderotter and also her co-authors point out, suggesting ex-CEOs to as an alternative redefine their objective or even identification. (Ballmer is actually also founder of USAFacts, a nonpartisan records business.) Costs George, the past Medtronic CEO who recast themself as a leadership guru after retired life, has actually pointed out that the previous Chief executive officers who grow are the ones who discover methods "to make or nourish factors that will certainly outlive all of them." During the course of our meeting at the field, Ballmer resembled this belief. "Someone informed me once, 'Nobody ever before actually possesses a baseball crew. You care for it. You shepherd it, as well as you take it along,'" he mentions. "Intuit Dome could be a little bit of what I perform to shepherd this group throughout. Since it is actually owned due to the enthusiasts in the end of the time, and also our experts simply handle it." Are you a single CEO in a second act?Are you a past CEO who has found objective in your 2nd action? Exactly how performed you tackle locating your brand-new identification? Deliver your ideas and anecdotes to me at stephaniemehta@mansueto.com. I'll share one of the most powerful instances in a potential newsletter.Read as well as view more: second process Relate to one of the most Ingenious Providers Honors and also be actually recognized as an organization driving the world ahead by means of advancement. Early-rate target date: Friday, August 23.