.Greetings and also welcome to Modern chief executive officer! I am actually Stephanie Mehta, CEO as well as main material officer of Mansueto Ventures. Weekly this email list explores broad techniques to leadership drawn from talks along with executives and business people, and from the webpages of Inc. as well as Swift Firm. If you acquired this email list from a pal, you can register to get it on your own every Monday morning.Being a CEO in these times is hard: Stress include fulfilling investors, managing increasing expenses as well as dealing with on-going supply-chain problems, as well as producing terrific work environments. But also for lots of managers, being actually an ex-CEO shows its own collection of problems. Some battle to manage the loss of the perks as well as condition that come with the project, while others feel obliged to adhere to the well-trodden course to exclusive equity or even company panels." Yearly, lots of managers relinquish lengthy and effective company occupations. Yet few are actually prepared for the quest they are about to start," previous Frontier Communications chief executive officer Maggie Wilderotter announced earlier this year in a Harvard Business Assessment essay, penciled with occupation train Rick Smith as well as talent scout Dennis Carey.Life beyond MicrosoftOne previous business tribal chief that seems to be to have located his ground is former Microsoft CEO Steve Ballmer. Ballmer bought the Los Angeles Clippers basketball team for $2 billion in 2014 and simply revealed the crew's brand new home, the Intuit Dome. (Rapid Firm calls it "Steve Ballmer's $ 2 billion recreation space for Los Angeles Clippers fans.") The group and also field have actually offered Ballmer a feeling of purpose that possesses, in some ways, eclipsed his expertises at the technician giant. "I have actually worked on a considerable amount of products throughout my profession at Microsoft, as well as I've adored them all," Ballmer informed me during the course of an interview this month at Intuit Dome in front of a reader that consisted of members of the Youthful Presidents' Company along with building workers that assisted create the location and also their loved ones. "Yet ... in the advancement of this structure, I most likely possessed a more clear perspective of what I intended to carry out, and I have the best contentment, not even if it thrived, however [due to the fact that] it is actually an expenditure in the community, too." Intuit Dome has significantly been actually an enthusiasm project for Ballmer, who sought to guarantee that all enthusiasts have a premium adventure. Every seat is actually made with quick and easy access to concessions and also bathrooms, phone asking for functionalities, as well as adequate lower leg area, despite ticket price.Ballmer's considerable investments are actually paying. The Clippers gained 51 games in the 2023-2024 period, as well as finished fourth in the NBA Western Conference. (The Dallas Mavericks dealt with the crew from the playoffs.) And Ballmer repeatedly places being one of the best NBA proprietors in supporter polls.He is actually a not likely role model for post-CEO life. His retirement coming from Microsoft in 2014 after 34 years at the company and also 13 years as chief executive officer was psychological as well as fraught. Though earnings nearly tripled during his tenure, the assets essentially stagnated, and also the firm skipped the opportunity to end up being a gamer in smart phones and also net solutions. Under the gun coming from the business's panel, Ballmer looked for to spruce up the company before ultimately deciding he was actually certainly not the greatest person to move Microsoft forward. A media reporter who narrated his departure from Microsoft illustrated him as "extremely unfortunate to leave behind the firm." CEO, reinventedPart of what helps make Ballmer a second-act success tale is that he failed to try to reproduce his company life. Somewhat, he took possession of an option to acquire the Clippers after previous co-owner Donald Sterling was actually outlawed from managing the group or even connecting with the NBA. "Possessing way too many choices may trigger decision fatigue, reverting to default choices, or maybe staying away from deciding completely," Wilderotter and also her co-authors mention, encouraging ex-CEOs to rather redefine their objective or identification. (Ballmer is actually additionally owner of USAFacts, a detached data provider.) Bill George, the previous Medtronic CEO who modify themself as a leadership authority after retirement, has actually stated that the former CEOs that prosper are the ones that locate ways "to create or support factors that will definitely outlast them." During the course of our interview at the arena, Ballmer resembled this belief. "Somebody told me the moment, 'No person ever definitely possesses a baseball group. You take care of it. You shepherd it, and also you carry it along,'" he points out. "Intuit Dome may be a small amount of what I carry out to shepherd this staff throughout. Because it is actually possessed by the enthusiasts by the end of the day, as well as our team only take care of it." Are you a single CEO in a second act?Are you a previous CEO who has found function in your 2nd process? Just how performed you set about discovering your brand new identification? Send your understandings and also anecdotes to me at stephaniemehta@mansueto.com. I'll share the most powerful instances in a future newsletter.Read as well as view even more: second process Apply to the absolute most Ingenious Business Awards and be actually identified as an association driving the world onward via technology. Early-rate target date: Friday, August 23.