.Hello there and also appreciated to Modern chief executive officer! I'm Stephanie Mehta, chief executive officer and main satisfied police officer of Mansueto Ventures. Each week this bulletin explores comprehensive techniques to leadership drawn from conversations with execs and business owners, and from the pages of Inc. and Quick Provider. If you got this bulletin coming from a buddy, you can register to get it yourself every Monday morning.Being a CEO nowadays is actually hard: Stress consist of fulfilling shareholders, dealing with increasing prices and resolving ongoing supply-chain issues, and also producing fantastic workplaces. But also for numerous executives, being an ex-CEO presents its own collection of challenges. Some problem to handle the reduction of the advantages as well as status that include the work, while others really feel obliged to adhere to the well-trodden road to personal equity or business panels." Every year, thousands of managers retire from long as well as prosperous company occupations. Yet handful of are planned for the experience they are about to start," previous Outpost Communications chief executive officer Maggie Wilderotter proclaimed earlier this year in a Harvard Service Customer review essay, penciled along with profession trainer Rick Smith as well as headhunter Dennis Carey.Life past MicrosoftOne previous business chieftain that seems to be to have found his ground is previous Microsoft chief executive officer Steve Ballmer. Ballmer got the Los Angeles Clippers baseball team for $2 billion in 2014 as well as merely revealed the staff's brand new home, the Intuit Dome. (Prompt Company calls it "Steve Ballmer's $ 2 billion play ground for Los Angeles Clippers supporters.") The staff and also sector have actually provided Ballmer a feeling of function that has, somehow, shrouded his experiences at the technician giant. "I have actually dealt with a lot of items throughout my career at Microsoft, and also I've enjoyed them all," Ballmer told me in the course of a meeting this month at Intuit Dome before a target market that consisted of members of the Young Presidents' Association along with construction laborers that helped construct the facility and their loved ones. "However ... in the growth of this structure, I perhaps possessed a clearer view of what I wished to carry out, and I possess the absolute most satisfaction, certainly not just because it turned out well, however [considering that] it is actually an expenditure in the neighborhood, as well." Intuit Dome has actually very much been actually an interest venture for Ballmer, who found to ensure that all followers possess a superior knowledge. Every chair is actually created along with simple access to deals and also restrooms, phone asking for abilities, and also plenty of lower leg area, no matter ticket price.Ballmer's substantial investments are actually repaying. The Clippers succeeded 51 activities in the 2023-2024 period, and also ended up 4th in the NBA Western Conference. (The Dallas Mavericks got rid of the team from the playoffs.) And Ballmer repeatedly rates as one of the leading NBA managers in follower polls.He is actually an unlikely good example for post-CEO lifestyle. His retirement coming from Microsoft in 2014 after 34 years at the business as well as thirteen years as chief executive officer was actually emotional and also fraught. Though incomes virtually tripled during the course of his period, the equity generally went stale, as well as the business overlooked the chance to become a gamer in mobile devices as well as world wide web services. Struggling coming from the company's panel, Ballmer found to revamp the provider before essentially making a decision he was certainly not the most ideal person to relocate Microsoft forward. A reporter who recorded his retirement from Microsoft illustrated him as "quite depressing to leave behind the business." CEO, reinventedPart of what helps make Ballmer a second-act results account is that he failed to attempt to recreate his business life. Instead, he seized a possibility to obtain the Clippers after previous co-owner Donald Sterling was actually banned coming from managing the crew or associating with the NBA. "Having a lot of selections can trigger choice fatigue, returning to fail options, or even staying away from making a decision entirely," Wilderotter and also her co-authors say, suggesting ex-CEOs to rather redefine their purpose or identity. (Ballmer is likewise founder of USAFacts, a detached data company.) Costs George, the former Medtronic chief executive officer that modify himself as a management master after retirement, has actually claimed that the past Chief executive officers who flourish are the ones that find ways "to produce or even support traits that will definitely outlast them." During our meeting at the stadium, Ballmer resembled this belief. "Somebody told me when, 'Nobody ever actually owns a basketball team. You handle it. You shepherd it, as well as you bring it along,'" he states. "Intuit Dome may be a little bit of what I carry out to shepherd this staff throughout. Due to the fact that it's possessed by the supporters at the end of the time, and also we just handle it." Are you a single CEO in a second act?Are you a previous chief executive officer that has discovered reason in your 2nd action? How did you handle finding your brand new identity? Send your understandings and also anecdotes to me at stephaniemehta@mansueto.com. I'll share one of the most compelling examples in a future newsletter.Read as well as enjoy even more: 2nd acts Apply to the best Innovative Companies Honors and also be actually recognized as an association steering the world ahead by means of advancement. Early-rate target date: Friday, August 23.