.Hello there and appreciated to Modern chief executive officer! I am actually Stephanie Mehta, chief executive officer and chief satisfied policeman of Mansueto Ventures. Every week this bulletin checks out inclusive strategies to management drawn from chats with executives and also entrepreneurs, and coming from the webpages of Inc. and Rapid Provider. If you received this bulletin coming from a pal, you can easily sign up to get it yourself every Monday morning.Being a chief executive officer in today times is actually hard: Pressures include pleasing shareholders, dealing with increasing costs and also fixing ongoing supply-chain problems, as well as creating fantastic workplaces. But for several execs, being actually an ex-CEO offers its own set of obstacles. Some battle to deal with the reduction of the perks and also standing that include the work, while others really feel required to observe the well-trodden road to personal equity or even business panels." Yearly, lots of execs retire from lengthy and successful corporate jobs. Yet handful of are organized the quest they will plunge into," past Frontier Communications CEO Maggie Wilderotter proclaimed earlier this year in a Harvard Company Customer review essay, penciled along with profession instructor Rick Smith and also headhunter Dennis Carey.Life beyond MicrosoftOne former company tribal chief that appears to have discovered his ground is past Microsoft chief executive officer Steve Ballmer. Ballmer acquired the Los Angeles Clippers baseball crew for $2 billion in 2014 and also simply introduced the staff's brand new home, the Intuit Dome. (Swift Company calls it "Steve Ballmer's $ 2 billion playing field for Los Angeles Clippers fans.") The team as well as sector have given Ballmer a sense of function that has, in some ways, eclipsed his experiences at the tech titan. "I have actually dealt with a great deal of items over the course of my job at Microsoft, as well as I have actually liked all of them all," Ballmer told me in the course of a job interview this month at Intuit Dome before a viewers that featured members of the Youthful Presidents' Organization and also building workers that helped develop the center and also their households. "However ... in the development of this particular structure, I possibly had a more clear view of what I wanted to carry out, and also I possess the best total satisfaction, certainly not even if it turned out well, but [because] it's a financial investment in the community, as well." Intuit Dome has significantly been actually an enthusiasm project for Ballmer, who found to ensure that all followers possess a superior experience. Every chair is actually created along with simple access to concessions and restrooms, phone demanding abilities, and also ample leg space, irrespective of ticket price.Ballmer's substantial expenditures are repaying. The Clippers won 51 games in the 2023-2024 season, as well as completed fourth in the NBA Western Association. (The Dallas Mavericks got rid of the team from the playoffs.) And Ballmer repeatedly rates being one of the leading NBA proprietors in fan polls.He is an unexpected shining example for post-CEO lifestyle. His retired life coming from Microsoft in 2014 after 34 years at the company and thirteen years as CEO was psychological and also filled. Though profits nearly tripled during his period, the stock practically stagnated, and the business missed out on the possibility to become a player in mobile devices as well as net services. Under the gun from the business's board, Ballmer found to remodel the business before ultimately determining he was actually not the best individual to relocate Microsoft onward. A press reporter that chronicled his separation coming from Microsoft illustrated him as "really depressing to leave the provider." CEO, reinventedPart of what makes Ballmer a second-act excellence account is actually that he really did not choose to reproduce his business life. Rather, he took possession of an option to acquire the Clippers after previous co-owner Donald Sterling was prohibited coming from operating the crew or associating with the NBA. "Having way too many selections can result in decision fatigue, going back to default options, and even steering clear of choosing entirely," Wilderotter and her co-authors claim, advising ex-CEOs to as an alternative redefine their purpose or identity. (Ballmer is actually also creator of USAFacts, a detached information firm.) Costs George, the past Medtronic chief executive officer that modify himself as a management master after retirement, has stated that the former CEOs that thrive are the ones that discover means "to generate or nurture factors that will definitely outlast all of them." During our meeting at the arena, Ballmer resembled this sentiment. "Somebody informed me once, 'No person ever really owns a baseball group. You handle it. You shepherd it, and also you deliver it along,'" he says. "Intuit Dome could be a bit of what I carry out to shepherd this group throughout. Considering that it's possessed due to the fans at the end of the time, and our company simply care for it." Are you a single chief executive officer in a second act?Are you a previous chief executive officer that has located function in your 2nd action? Exactly how performed you engage in discovering your brand-new identity? Send your knowledge as well as narratives to me at stephaniemehta@mansueto.com. I'll discuss one of the most engaging examples in a future newsletter.Read and watch extra: second process Apply to one of the most Cutting-edge Companies Awards and be actually realized as a company steering the planet ahead by means of technology. Early-rate due date: Friday, August 23.