.Hey there and appreciated to Modern chief executive officer! I'm Stephanie Mehta, CEO and also primary satisfied police officer of Mansueto Ventures. Every week this newsletter discovers inclusive strategies to management drawn from conversations with execs as well as business owners, and also coming from the pages of Inc. and also Rapid Business. If you received this bulletin coming from a close friend, you can subscribe to get it your own self every Monday morning.Being a CEO at presents is actually tough: Tensions include fulfilling shareholders, taking care of increasing expenses and handling ongoing supply-chain problems, and also generating terrific offices. However, for a lot of execs, being actually an ex-CEO presents its very own set of problems. Some problem to handle the loss of the rewards and also standing that possess the work, while others feel obliged to adhere to the well-trodden road to exclusive equity or even corporate boards." Every year, lots of executives retire from lengthy and prosperous company professions. Yet few are actually prepared for the journey they are about to plunge into," former Outpost Communications chief executive officer Maggie Wilderotter stated earlier this year in a Harvard Company Testimonial essay, penciled along with profession coach Rick Smith and talent scout Dennis Carey.Life beyond MicrosoftOne previous business chieftain who seems to have located his footing is previous Microsoft CEO Steve Ballmer. Ballmer bought the Los Angeles Clippers baseball staff for $2 billion in 2014 and just introduced the crew's brand-new home, the Intuit Dome. (Fast Firm calls it "Steve Ballmer's $ 2 billion playing field for Los Angeles Clippers enthusiasts.") The staff and sector have actually given Ballmer a feeling of function that has, in some ways, shrouded his experiences at the specialist titan. "I have actually focused on a bunch of products throughout my career at Microsoft, and also I've loved them all," Ballmer told me in the course of an interview this month at Intuit Dome facing an audience that included members of the Youthful Presidents' Association in addition to construction workers that helped construct the amenities and their loved ones. "However ... in the growth of this particular building, I perhaps had a more clear scenery of what I would like to carry out, and also I have the absolute most satisfaction, not even if it prospered, but [considering that] it is actually an expenditure in the area, also." Intuit Dome has quite been a passion project for Ballmer, that sought to ensure that all supporters have a fee knowledge. Every seat is made along with effortless accessibility to concessions as well as restrooms, phone demanding functionalities, as well as plenty of lower leg area, despite ticket price.Ballmer's significant assets are actually repaying. The Clippers gained 51 video games in the 2023-2024 season, as well as completed 4th in the NBA Western Association. (The Dallas Mavericks did away with the team from the playoffs.) And also Ballmer repeatedly rates as one of the best NBA managers in follower polls.He is an unexpected good example for post-CEO lifestyle. His retirement from Microsoft in 2014 after 34 years at the business and 13 years as CEO was psychological as well as stuffed. Though earnings almost tripled during the course of his period, the share generally stagnated, and also the provider missed the opportunity to come to be a gamer in smart phones and also net solutions. Struggling coming from the provider's panel, Ballmer found to remodel the firm before eventually making a decision he was certainly not the best individual to relocate Microsoft ahead. A reporter that told his separation coming from Microsoft described him as "quite sad to leave the firm." CHIEF EXECUTIVE OFFICER, reinventedPart of what makes Ballmer a second-act results account is that he failed to try to recreate his corporate life. Rather, he confiscated an option to obtain the Clippers after previous co-owner Donald Sterling was actually outlawed coming from managing the staff or even relating to the NBA. "Possessing excessive choices can easily cause selection exhaustion, going back to skip alternatives, or perhaps preventing choosing completely," Wilderotter and her co-authors mention, recommending ex-CEOs to as an alternative redefine their reason or identification. (Ballmer is actually also owner of USAFacts, a detached records company.) Bill George, the past Medtronic CEO that recast himself as a management master after retirement, has actually said that the previous Chief executive officers who prosper are the ones who discover techniques "to make or support factors that will certainly outlive all of them." During the course of our job interview at the arena, Ballmer resembled this conviction. "Someone informed me as soon as, 'No one ever really possesses a basketball staff. You handle it. You shepherd it, and also you take it along,'" he points out. "Intuit Dome may be a small amount of what I carry out to shepherd this team throughout. Given that it's owned by the enthusiasts at the end of the day, and our team merely take care of it." Are you an one-time chief executive officer in a second act?Are you a former CEO who possesses located function in your second process? How performed you engage in discovering your brand-new identity? Send your insights as well as narratives to me at stephaniemehta@mansueto.com. I'll share the absolute most powerful instances in a future newsletter.Read and also enjoy more: 2nd process Put on the Most Impressive Companies Honors and be recognized as a company steering the globe onward with advancement. Early-rate target date: Friday, August 23.