.Hi there and also appreciated to Modern chief executive officer! I am actually Stephanie Mehta, CEO as well as chief material police officer of Mansueto Ventures. Every week this email list checks out inclusive approaches to management reasoned discussions along with managers as well as business people, and also from the web pages of Inc. and Fast Firm. If you got this email list from a friend, you can sign up to receive it on your own every Monday morning.Being a chief executive officer these days is actually tough: Pressures include delighting investors, dealing with rising prices and also resolving on-going supply-chain issues, and developing great offices. But also for several execs, being an ex-CEO provides its own collection of difficulties. Some battle to cope with the loss of the perks and also standing that come with the work, while others really feel obliged to observe the well-trodden path to exclusive equity or even business boards." Yearly, countless executives retire from long and prosperous corporate jobs. But handful of are prepared for the adventure they are about to embark on," previous Frontier Communications CEO Maggie Wilderotter proclaimed earlier this year in a Harvard Organization Testimonial essay, penciled along with job coach Rick Johnson as well as talent scout Dennis Carey.Life beyond MicrosoftOne past company tribal chief that seems to be to have actually found his ground is actually past Microsoft chief executive officer Steve Ballmer. Ballmer bought the Los Angeles Clippers basketball staff for $2 billion in 2014 as well as just introduced the staff's brand-new home, the Intuit Dome. (Rapid Company calls it "Steve Ballmer's $ 2 billion play area for Los Angeles Clippers supporters.") The crew as well as arena have given Ballmer a feeling of reason that possesses, somehow, darkened his adventures at the tech giant. "I've dealt with a great deal of products over the course of my job at Microsoft, as well as I've liked all of them all," Ballmer informed me during the course of a meeting this month at Intuit Dome in front of a reader that featured participants of the Young Presidents' Organization and also construction laborers that assisted create the amenities and also their family members. "Yet ... in the development of this particular building, I perhaps possessed a clearer view of what I desired to do, as well as I have the best total satisfaction, not even if it turned out well, yet [since] it's an assets in the neighborhood, as well." Intuit Dome has quite been actually an enthusiasm job for Ballmer, who looked for to make certain that all fans have a fee expertise. Every seat is designed along with simple accessibility to giving ins and also shower rooms, phone charging capacities, and also plenty of leg room, regardless of ticket price.Ballmer's sizable investments are actually repaying. The Clippers won 51 games in the 2023-2024 time, as well as ended up 4th in the NBA Western Association. (The Dallas Mavericks dealt with the crew from the playoffs.) And Ballmer often ranks being one of the best NBA owners in supporter polls.He is actually an extremely unlikely good example for post-CEO life. His retired life coming from Microsoft in 2014 after 34 years at the provider and also thirteen years as CEO was actually mental and stuffed. Though incomes virtually tripled in the course of his period, the equity generally went stale, and also the company missed the chance to end up being a player in cell phones as well as net services. Under pressure from the business's panel, Ballmer looked for to overhaul the business before ultimately making a decision he was certainly not the best person to relocate Microsoft forward. A media reporter who recorded his departure from Microsoft illustrated him as "very depressing to leave behind the company." CHIEF EXECUTIVE OFFICER, reinventedPart of what creates Ballmer a second-act effectiveness story is actually that he failed to try to recreate his business life. Somewhat, he confiscated an opportunity to acquire the Clippers after previous co-owner Donald Sterling was actually prohibited from running the crew or even relating to the NBA. "Having a lot of choices can cause choice fatigue, returning to default options, and even staying away from choosing altogether," Wilderotter and also her co-authors state, suggesting ex-CEOs to rather redefine their purpose or identification. (Ballmer is actually likewise founder of USAFacts, a nonpartisan information business.) Costs George, the previous Medtronic CEO that modify themself as a leadership expert after retirement life, has pointed out that the former CEOs that thrive are the ones that find means "to generate or even nourish traits that will outlast them." During our meeting at the field, Ballmer resembled this view. "A person informed me the moment, 'Nobody ever truly owns a basketball crew. You deal with it. You shepherd it, as well as you deliver it along,'" he mentions. "Intuit Dome could be a little bit of what I carry out to shepherd this staff throughout. Due to the fact that it is actually possessed by the followers at the end of the time, and our company just care for it." Are you an one-time CEO in a 2nd act?Are you a former chief executive officer that has located purpose in your 2nd action? How did you set about finding your new identity? Deliver your understandings and also narratives to me at stephaniemehta@mansueto.com. I'll share the absolute most convincing instances in a potential newsletter.Read and watch a lot more: second actions Apply to the absolute most Ingenious Business Honors and also be realized as a company steering the planet forward via technology. Early-rate deadline: Friday, August 23.