.Greetings as well as appreciated to Modern chief executive officer! I'm Stephanie Mehta, CEO as well as chief content police officer of Mansueto Ventures. Every week this newsletter checks out inclusive strategies to management drawn from chats along with executives as well as business owners, as well as coming from the web pages of Inc. and also Fast Business. If you received this newsletter coming from a good friend, you can easily sign up to obtain it your own self every Monday morning.Being a CEO in these times is challenging: Stress include pleasing investors, taking care of rising expenses and also dealing with continuous supply-chain problems, and making great offices. But for a lot of execs, being an ex-CEO presents its personal collection of problems. Some problem to handle the reduction of the benefits and also condition that possess the job, while others really feel required to comply with the well-trodden course to private equity or even corporate boards." Each year, lots of executives retire from long and productive business careers. But handful of are actually gotten ready for the trip they will plunge into," past Outpost Communications CEO Maggie Wilderotter declared previously this year in a Harvard Company Review essay, penned along with career train Rick Johnson and talent scout Dennis Carey.Life beyond MicrosoftOne former corporate chieftain that seems to be to have actually located his footing is past Microsoft chief executive officer Steve Ballmer. Ballmer bought the Los Angeles Clippers basketball group for $2 billion in 2014 and also merely introduced the crew's brand-new home, the Intuit Dome. (Quick Provider calls it "Steve Ballmer's $ 2 billion playground for Los Angeles Clippers fans.") The group as well as field have actually given Ballmer a feeling of function that has, in some ways, darkened his expertises at the tech titan. "I've worked with a considerable amount of products over the course of my occupation 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 included participants of the Young Presidents' Institution as well as building and construction workers who assisted build the facility and their families. "But ... in the advancement of this particular structure, I most likely possessed a clearer scenery of what I wished to perform, and I have the best satisfaction, certainly not even if it thrived, yet [considering that] it is actually a financial investment in the area, too." Intuit Dome has very much been actually an interest project for Ballmer, who sought to ensure that all fans have a fee expertise. Every seat is actually created along with simple accessibility to deals and also bathrooms, phone demanding capacities, and also adequate lower leg area, no matter ticket price.Ballmer's sizable investments are settling. The Clippers succeeded 51 games in the 2023-2024 season, and completed fourth in the NBA Western Event. (The Dallas Mavericks eliminated the team from the playoffs.) And also Ballmer regularly positions being one of the top NBA managers in enthusiast polls.He is actually an unlikely shining example for post-CEO life. His retirement life coming from Microsoft in 2014 after 34 years at the company as well as thirteen years as CEO was actually emotional and tangled up. Though earnings nearly tripled during the course of his tenure, the stock basically went stale, and the firm skipped the chance to end up being a player in smart phones and also world wide web companies. Under the gun coming from the firm's panel, Ballmer found to remodel the firm just before ultimately making a decision he was certainly not the best individual to relocate Microsoft ahead. A reporter who chronicled his parting coming from Microsoft illustrated him as "extremely sad to leave behind the business." CHIEF EXECUTIVE OFFICER, reinventedPart of what helps make Ballmer a second-act success story is that he didn't attempt to recreate his corporate life. Instead, he took possession of a possibility to get the Clippers after previous co-owner Donald Sterling was actually banned coming from operating the crew or associating with the NBA. "Possessing a lot of options can result in choice tiredness, returning to default options, or even staying away from making a decision completely," Wilderotter as well as her co-authors state, urging ex-CEOs to as an alternative redefine their reason or even identification. (Ballmer is actually likewise owner of USAFacts, a detached data provider.) Costs George, the previous Medtronic CEO who modify himself as a management authority after retired life, has mentioned that the past CEOs that thrive are actually the ones that locate techniques "to create or even nurture factors that will definitely outlast all of them." During our interview at the field, Ballmer resembled this belief. "A person informed me when, 'No person ever definitely has a basketball team. You take care of it. You shepherd it, and also you take it along,'" he claims. "Intuit Dome may be a little of what I do to shepherd this crew along. Considering that it is actually possessed due to the enthusiasts in the end of the day, as well as we only handle it." Are you a single CEO in a 2nd act?Are you a previous chief executive officer that possesses discovered objective in your 2nd process? Just how performed you set about locating your brand new identity? Deliver your understandings as well as anecdotes to me at stephaniemehta@mansueto.com. I'll share the best convincing instances in a future newsletter.Read and also see much more: second acts Put on one of the most Impressive Companies Awards as well as be acknowledged as an institution steering the world onward through advancement. Early-rate due date: Friday, August 23.