.Greetings as well as appreciated to Modern chief executive officer! I'm Stephanie Mehta, chief executive officer as well as primary material officer of Mansueto Ventures. Weekly this newsletter looks into broad methods to management drawn from chats along with managers and also business owners, and also from the webpages of Inc. and also Quick Firm. If you obtained this newsletter coming from a friend, you can easily join to acquire it on your own every Monday morning.Being a CEO in today times is actually hard: Stress feature fulfilling shareholders, managing rising prices as well as solving recurring supply-chain issues, as well as making fantastic work environments. But also for several executives, being actually an ex-CEO provides its very own set of problems. Some struggle to cope with the loss of the benefits and also standing that possess the job, while others really feel required to adhere to the well-trodden path to personal equity or even business boards." Every year, 1000s of execs retire from lengthy and also successful corporate jobs. Yet couple of are prepared for the quest they are about to start," previous Outpost Communications CEO Maggie Wilderotter proclaimed earlier this year in a Harvard Company Assessment essay, penned with career trainer Rick Johnson and also headhunter Dennis Carey.Life beyond MicrosoftOne past corporate tribal chief who appears to have actually located his ground is past Microsoft chief executive officer Steve Ballmer. Ballmer purchased the Los Angeles Clippers baseball team for $2 billion in 2014 and only revealed the group's brand new home, the Intuit Dome. (Fast Firm calls it "Steve Ballmer's $ 2 billion play area for LA Clippers followers.") The staff and also arena have actually provided Ballmer a feeling of purpose that has, in some ways, eclipsed his expertises at the tech titan. "I've serviced a ton of products throughout my occupation at Microsoft, and also I've adored all of them all," Ballmer told me in the course of a job interview this month at Intuit Dome before an audience that featured participants of the Youthful Presidents' Company in addition to construction workers who helped create the facility and their families. "However ... in the growth of this building, I possibly possessed a clearer perspective of what I desired to perform, as well as I have one of the most satisfaction, not even if it thrived, yet [since] it's an expenditure in the community, as well." Intuit Dome has significantly been an enthusiasm venture for Ballmer, that sought to guarantee that all followers have a costs expertise. Every seat is developed along with quick and easy access to concessions and also washrooms, phone asking for capacities, and also substantial leg room, despite ticket price.Ballmer's substantial assets are actually paying. The Clippers won 51 activities in the 2023-2024 period, and ended up 4th in the NBA Western Event. (The Dallas Mavericks removed the group coming from the playoffs.) And also Ballmer often positions being one of the top NBA proprietors in enthusiast polls.He is actually an unlikely good example for post-CEO life. His retirement from Microsoft in 2014 after 34 years at the business and also 13 years as CEO was psychological as well as laden. Though revenues nearly tripled during his period, the stock basically stood still, as well as the firm missed the possibility to become a player in smart phones as well as net companies. Struggling coming from the company's board, Ballmer sought to revamp the business just before ultimately determining he was not the very best person to relocate Microsoft ahead. A media reporter who narrated his separation from Microsoft illustrated him as "quite depressing to leave the company." CHIEF EXECUTIVE OFFICER, reinventedPart of what produces Ballmer a second-act results account is actually that he didn't attempt to recreate his corporate lifestyle. Instead, he took possession of an option to get the Clippers after previous co-owner Donald Sterling was disallowed coming from running the staff or associating with the NBA. "Possessing a lot of options may trigger selection exhaustion, going back to fail alternatives, or even steering clear of choosing completely," Wilderotter as well as her co-authors claim, urging ex-CEOs to instead redefine their objective or identification. (Ballmer is actually additionally owner of USAFacts, a detached data business.) Costs George, the past Medtronic chief executive officer who modify themself as a management authority after retirement life, has pointed out that the former CEOs who prosper are the ones that find means "to make or even nourish things that will certainly outlive all of them." Throughout our interview at the field, Ballmer echoed this belief. "A person informed me once, 'No person ever actually possesses a baseball crew. You handle it. You shepherd it, and also you bring it along,'" he says. "Intuit Dome may be a little of what I do to shepherd this crew throughout. Due to the fact that it is actually had due to the fans by the end of the time, as well as our team simply handle it." Are you an one-time CEO in a second act?Are you a former chief executive officer that has discovered purpose in your second act? Exactly how performed you deal with discovering your brand new identity? Deliver your insights and also anecdotes to me at stephaniemehta@mansueto.com. I'll share the most powerful examples in a potential newsletter.Read and view a lot more: second acts Relate to the Most Impressive Business Awards as well as be actually recognized as an institution driving the globe ahead with innovation. Early-rate deadline: Friday, August 23.