.Hello there as well as appreciated to Modern chief executive officer! I am actually Stephanie Mehta, CEO as well as chief material officer of Mansueto Ventures. Weekly this email list looks into broad techniques to leadership drawn from discussions along with managers and also entrepreneurs, and coming from the pages of Inc. and also Prompt Provider. If you obtained this bulletin coming from a buddy, you can easily enroll to receive it your own self every Monday morning.Being a chief executive officer at presents is actually tough: Stress consist of satisfying shareholders, managing climbing prices as well as fixing on-going supply-chain problems, and also generating wonderful work environments. But for many managers, being an ex-CEO offers its personal set of challenges. Some battle to deal with the loss of the rewards and also condition that feature the job, while others really feel obliged to follow the well-trodden pathway to private equity or even company boards." Each year, 1000s of executives retire from long and productive corporate professions. But couple of are organized the journey they will start," former Outpost Communications chief executive officer Maggie Wilderotter proclaimed earlier this year in a Harvard Service Customer review essay, penciled along with profession train Rick Smith as well as talent scout Dennis Carey.Life past MicrosoftOne previous corporate tribal chief that seems to be to have actually discovered his ground is previous Microsoft CEO Steve Ballmer. Ballmer bought the Los Angeles Clippers basketball crew for $2 billion in 2014 and also just introduced the team's brand-new home, the Intuit Dome. (Quick Company calls it "Steve Ballmer's $ 2 billion recreation space for Los Angeles Clippers enthusiasts.") The group as well as arena have offered Ballmer a feeling of purpose that has, in some ways, shrouded his knowledge at the specialist titan. "I have actually focused on a bunch of products over the course of my career at Microsoft, and also I have actually loved them all," Ballmer informed me throughout an interview this month at Intuit Dome facing a viewers that consisted of members of the Youthful Presidents' Organization and also development employees that helped create the establishment and also their families. "But ... in the growth of this property, I possibly had a more clear view of what I would like to carry out, and also I have the best contentment, certainly not just because it turned out well, yet [due to the fact that] it is actually an investment in the neighborhood, too." Intuit Dome has very much been actually an enthusiasm job for Ballmer, that sought to ensure that all followers possess a costs expertise. Every seat is actually developed with very easy accessibility to giving ins as well as bathrooms, phone billing abilities, as well as plenty of leg space, no matter ticket price.Ballmer's sizable expenditures are actually paying. The Clippers gained 51 games in the 2023-2024 time, as well as completed 4th in the NBA Western Conference. (The Dallas Mavericks eliminated the team from the playoffs.) And Ballmer regularly places as one of the leading NBA owners in supporter polls.He is an unexpected shining example for post-CEO life. His retirement life coming from Microsoft in 2014 after 34 years at the business as well as thirteen years as CEO was actually mental as well as fraught. Though profits virtually tripled during his period, the equity basically stood still, as well as the firm missed the opportunity to become a gamer in cell phones and also internet solutions. Under pressure from the firm's board, Ballmer found to renew the company before eventually choosing he was actually not the greatest person to relocate Microsoft ahead. A media reporter that chronicled his parting from Microsoft defined him as "really unfortunate to leave the firm." CEO, reinventedPart of what makes Ballmer a second-act excellence account is that he didn't attempt to reproduce his corporate lifestyle. Instead, he confiscated an opportunity to get the Clippers after previous co-owner Donald Sterling was actually banned from managing the crew or even relating to the NBA. "Possessing excessive choices can easily trigger choice exhaustion, reverting to skip options, or even staying away from choosing altogether," Wilderotter and also her co-authors claim, advising ex-CEOs to instead redefine their purpose or even identity. (Ballmer is actually also owner of USAFacts, a detached information business.) Costs George, the previous Medtronic CEO that recast himself as a management master after retirement life, has actually said that the past CEOs who thrive are actually the ones who find means "to generate or support points that will definitely outlast all of them." During the course of our interview at the stadium, Ballmer resembled this sentiment. "Somebody told me the moment, 'No person ever definitely owns a baseball team. You care for it. You shepherd it, and you take it along,'" he states. "Intuit Dome may be a small amount of what I perform to shepherd this team throughout. Considering that it is actually had by the followers by the end of the time, and our team only look after it." Are you an one-time CEO in a second act?Are you a past CEO that possesses found purpose in your second action? Exactly how did you tackle locating your brand new identification? Deliver your ideas and anecdotes to me at stephaniemehta@mansueto.com. I'll discuss the most compelling instances in a future newsletter.Read and also view even more: 2nd acts Apply to the Most Innovative Business Awards as well as be actually identified as an institution steering the planet ahead through technology. Early-rate target date: Friday, August 23.