.Hi there as well as appreciated to Modern chief executive officer! I'm Stephanie Mehta, chief executive officer and also chief material officer of Mansueto Ventures. Each week this e-newsletter checks out broad strategies to management drawn from talks with execs and business people, and from the web pages of Inc. and Quick Business. If you obtained this e-newsletter from a friend, you can enroll to receive it yourself every Monday morning.Being a chief executive officer in today times is challenging: Stress consist of satisfying shareholders, managing increasing prices as well as fixing recurring supply-chain concerns, and also creating great place of work. But also for many execs, being an ex-CEO shows its own collection of difficulties. Some problem to manage the reduction of the rewards and standing that include the project, while others really feel obliged to follow the well-trodden pathway to personal equity or even business panels." Annually, thousands of execs relinquish lengthy and prosperous company jobs. Yet handful of are actually organized the journey they are about to start," former Outpost Communications chief executive officer Maggie Wilderotter declared earlier this year in a Harvard Business Testimonial essay, penned along with profession coach Rick Smith and also talent scout Dennis Carey.Life beyond MicrosoftOne past corporate tribal chief who appears to have located his footing is previous Microsoft CEO Steve Ballmer. Ballmer got the Los Angeles Clippers basketball staff for $2 billion in 2014 and only unveiled the staff's brand-new home, the Intuit Dome. (Swift Company calls it "Steve Ballmer's $ 2 billion play area for LA Clippers enthusiasts.") The group as well as sector have actually given Ballmer a feeling of function that possesses, somehow, overshadowed his knowledge at the technology titan. "I have actually worked with a considerable amount of items over the course of my profession at Microsoft, and I have actually loved them all," Ballmer told me during an interview this month at Intuit Dome before a viewers that included participants of the Youthful Presidents' Company and also building and construction employees that helped create the establishment and their families. "However ... in the growth of this particular property, I possibly possessed a clearer perspective of what I wanted to perform, as well as I possess the absolute most satisfaction, certainly not just because it turned out well, but [given that] it's a financial investment in the neighborhood, also." Intuit Dome has significantly been a passion venture for Ballmer, that looked for to make sure that all supporters possess a superior adventure. Every seat is developed with easy access to deals as well as bathrooms, phone asking for abilities, and sufficient leg room, no matter ticket price.Ballmer's significant assets are actually settling. The Clippers gained 51 video games in the 2023-2024 time, as well as finished fourth in the NBA Western Event. (The Dallas Mavericks removed the team from the playoffs.) As well as Ballmer consistently places as being one of the top NBA proprietors in supporter polls.He is actually a not likely good example for post-CEO life. His retired life from Microsoft in 2014 after 34 years at the company as well as thirteen years as chief executive officer was psychological and also fraught. Though incomes virtually tripled throughout his tenure, the share basically went stale, and also the firm missed out on the opportunity to become a player in mobile devices as well as net services. Struggling coming from the firm's board, Ballmer found to revamp the firm prior to ultimately choosing he was actually not the most effective person to relocate Microsoft forward. A reporter that narrated his retirement from Microsoft defined him as "quite saddening to leave the firm." CHIEF EXECUTIVE OFFICER, reinventedPart of what makes Ballmer a second-act success tale is actually that he failed to choose to recreate his corporate lifestyle. Somewhat, he took a possibility to obtain the Clippers after previous co-owner Donald Sterling was actually prohibited coming from operating the group or relating to the NBA. "Possessing too many selections may result in selection tiredness, returning to fail alternatives, and even staying away from making a decision altogether," Wilderotter and her co-authors say, advising ex-CEOs to rather redefine their reason or even identity. (Ballmer is actually additionally owner of USAFacts, a detached information firm.) Costs George, the past Medtronic CEO that recast themself as a management master after retirement life, has claimed that the former Chief executive officers who thrive are actually the ones that find methods "to produce or nurture traits that will definitely outlive them." During our interview at the stadium, Ballmer reflected this feeling. "Somebody told me once, 'No one ever before truly has a baseball staff. You look after it. You shepherd it, and you take it along,'" he mentions. "Intuit Dome could be a small amount of what I do to shepherd this staff throughout. Due to the fact that it is actually owned due to the fans in the end of the time, as well as our experts merely care for it." Are you an one-time chief executive officer in a second act?Are you a past CEO who possesses found function in your second action? How did you deal with locating your brand new identification? Deliver your knowledge and also stories to me at stephaniemehta@mansueto.com. I'll share one of the most compelling instances in a future newsletter.Read and watch even more: 2nd process Put on one of the most Impressive Companies Awards as well as be actually acknowledged as an organization steering the globe onward with technology. Early-rate due date: Friday, August 23.