.Greetings and also appreciated to Modern chief executive officer! I'm Stephanie Mehta, chief executive officer as well as primary content officer of Mansueto Ventures. Weekly this e-newsletter explores comprehensive methods to management reasoned conversations along with managers as well as business owners, as well as from the web pages of Inc. and Quick Firm. If you got this newsletter coming from a buddy, you can easily sign up to get it your own self every Monday morning.Being a CEO nowadays is actually hard: Stress include fulfilling investors, handling increasing expenses and also resolving continuous supply-chain issues, and developing great offices. But also for many executives, being actually an ex-CEO provides its own collection of problems. Some problem to deal with the loss of the advantages and also standing that come with the work, while others really feel obliged to follow the well-trodden path to exclusive equity or even business boards." Yearly, hundreds of executives retire from lengthy and also successful business careers. But few are actually planned for the journey they will start," past Frontier Communications chief executive officer Maggie Wilderotter declared earlier this year in a Harvard Company Evaluation essay, penciled along with profession trainer Rick Johnson and talent scout Dennis Carey.Life beyond MicrosoftOne former corporate big shot that appears to have actually found his footing is actually past Microsoft CEO Steve Ballmer. Ballmer purchased the Los Angeles Clippers basketball staff for $2 billion in 2014 and only introduced the group's new home, the Intuit Dome. (Fast Business calls it "Steve Ballmer's $ 2 billion playing field for LA Clippers enthusiasts.") The team and also arena have offered Ballmer a sense of purpose that has, in some ways, darkened his knowledge at the tech titan. "I've worked on a bunch of products throughout my occupation at Microsoft, and also I have actually enjoyed all of them all," Ballmer informed me during a meeting this month at Intuit Dome in front of an audience that consisted of members of the Youthful Presidents' Organization along with building employees who assisted create the location as well as their households. "Yet ... in the development of this particular structure, I perhaps possessed a more clear viewpoint of what I intended to perform, as well as I possess the most satisfaction, not even if it thrived, however [since] it is actually an expenditure in the neighborhood, as well." Intuit Dome has actually quite been a passion job for Ballmer, who looked for to ensure that all supporters possess a premium knowledge. Every seat is designed with simple access to deals and also restrooms, phone charging functionalities, and ample leg room, no matter ticket price.Ballmer's sizable financial investments are paying off. The Clippers won 51 games in the 2023-2024 period, and also completed 4th in the NBA Western Conference. (The Dallas Mavericks got rid of the crew from the playoffs.) As well as Ballmer repeatedly positions as one of the leading NBA proprietors in follower polls.He is an unexpected role model for post-CEO lifestyle. His retired life coming from Microsoft in 2014 after 34 years at the company and thirteen years as chief executive officer was actually mental and also fraught. Though profits nearly tripled in the course of his tenure, the stock essentially stood still, as well as the business skipped the opportunity to end up being a gamer in mobile devices and also internet solutions. Under the gun coming from the provider's board, Ballmer sought to renew the company prior to ultimately deciding he was not the most effective individual to move Microsoft onward. A media reporter who chronicled his parting coming from Microsoft described him as "incredibly unfortunate to leave behind the company." CEO, reinventedPart of what creates Ballmer a second-act excellence tale is actually that he didn't attempt to reproduce his corporate life. Instead, he confiscated a possibility to acquire the Clippers after previous co-owner Donald Sterling was prohibited coming from managing the group or even relating to the NBA. "Having excessive options may bring about choice fatigue, going back to default choices, and even staying clear of choosing altogether," Wilderotter and her co-authors mention, advising ex-CEOs to instead redefine their reason or even identity. (Ballmer is actually additionally owner of USAFacts, a detached information firm.) Bill George, the former Medtronic CEO that modify himself as a leadership master after retirement, has actually claimed that the past Chief executive officers that thrive are actually the ones who locate techniques "to produce or even nourish points that will certainly outlast them." During the course of our job interview at the field, Ballmer reflected this belief. "A person told me when, 'No one ever definitely owns a basketball crew. You deal with it. You shepherd it, and you take it along,'" he mentions. "Intuit Dome could be a bit of what I do to shepherd this group throughout. Considering that it is actually possessed due to the enthusiasts by the end of the day, as well as our team simply look after it." Are you an one-time chief executive officer in a 2nd act?Are you a former CEO who has located purpose in your 2nd action? Just how did you handle discovering your brand-new identification? Send your ideas as well as stories to me at stephaniemehta@mansueto.com. I'll share the best convincing instances in a future newsletter.Read as well as check out extra: second actions Apply to the absolute most Cutting-edge Business Awards and be acknowledged as an association steering the planet forward via advancement. Early-rate target date: Friday, August 23.