.Hey there as well as appreciated to Modern CEO! I am actually Stephanie Mehta, CEO and also chief content officer of Mansueto Ventures. Each week this bulletin explores inclusive techniques to management drawn from chats along with executives as well as business owners, and also from the webpages of Inc. and Prompt Business. If you got this newsletter coming from a pal, you may join to receive it your own self every Monday morning.Being a chief executive officer nowadays is actually tough: Pressures consist of satisfying investors, managing rising prices and fixing ongoing supply-chain concerns, and also creating excellent place of work. But also for numerous execs, being actually an ex-CEO provides its own set of difficulties. Some problem to manage the loss of the advantages and status that feature the task, while others really feel required to observe the well-trodden pathway to exclusive equity or company panels." Annually, countless execs relinquish long and prosperous corporate jobs. However handful of are prepared for the journey they are about to embark on," past Outpost Communications chief executive officer Maggie Wilderotter proclaimed earlier this year in a Harvard Business Evaluation essay, penciled along with profession train Rick Johnson and also talent scout Dennis Carey.Life past MicrosoftOne previous corporate chieftain who seems to be to have found his footing is actually previous Microsoft chief executive officer Steve Ballmer. Ballmer purchased the Los Angeles Clippers basketball crew for $2 billion in 2014 and also only unveiled the team's brand-new home, the Intuit Dome. (Swift Firm calls it "Steve Ballmer's $ 2 billion playing field for Los Angeles Clippers fans.") The team as well as arena have actually given Ballmer a feeling of objective that has, somehow, darkened his expertises at the specialist titan. "I have actually worked on a bunch of items over the course of my career at Microsoft, and also I've enjoyed all of them all," Ballmer informed me throughout an interview this month at Intuit Dome in front of a viewers that included participants of the Youthful Presidents' Company and also development laborers that aided create the establishment and their family members. "However ... in the development of this particular structure, I perhaps had a clearer scenery of what I intended to carry out, and I have the most fulfillment, not even if it turned out well, but [considering that] it's an assets in the neighborhood, also." Intuit Dome has actually significantly been actually an enthusiasm venture for Ballmer, that looked for to guarantee that all followers possess a fee knowledge. Every seat is designed with quick and easy accessibility to deals as well as washrooms, phone billing capacities, as well as plenty of leg room, despite ticket price.Ballmer's significant assets are actually paying. The Clippers gained 51 games in the 2023-2024 period, as well as finished fourth in the NBA Western Event. (The Dallas Mavericks did away with the crew from the playoffs.) As well as Ballmer consistently ranks being one of the leading NBA owners in enthusiast polls.He is actually an extremely unlikely role model for post-CEO lifestyle. His retirement life coming from Microsoft in 2014 after 34 years at the company and also thirteen years as CEO was psychological as well as stuffed. Though earnings almost tripled in the course of his period, the stock basically went stale, and also the firm skipped the option to become a player in smart phones and also web services. Under the gun coming from the business's board, Ballmer found to revamp the provider before essentially deciding he was not the most ideal person to relocate Microsoft forward. A reporter that recorded his departure coming from Microsoft described him as "quite sad to leave the firm." CEO, reinventedPart of what produces Ballmer a second-act excellence story is that he really did not try to reproduce his business lifestyle. Somewhat, he seized a possibility to acquire the Clippers after previous co-owner Donald Sterling was actually prohibited coming from managing the crew or even relating to the NBA. "Possessing way too many selections can bring about decision exhaustion, reverting to default alternatives, or maybe staying away from choosing entirely," Wilderotter and her co-authors claim, suggesting ex-CEOs to as an alternative redefine their objective or even identity. (Ballmer is actually also owner of USAFacts, a detached records company.) Bill George, the former Medtronic CEO that recast themself as a management guru after retirement life, has mentioned that the former CEOs that flourish are the ones that locate ways "to produce or even nurture points that are going to outlive all of them." In the course of our interview at the arena, Ballmer echoed this feeling. "Somebody informed me as soon as, 'No one ever before actually possesses a baseball crew. You handle it. You shepherd it, and you bring it along,'" he points out. "Intuit Dome may be a little bit of what I do to shepherd this staff throughout. Because it's possessed by the fans at the end of the time, and we merely handle it." Are you a single CEO in a 2nd act?Are you a former CEO who possesses found purpose in your second action? Exactly how performed you go about finding your new identification? Send your knowledge as well as narratives to me at stephaniemehta@mansueto.com. I'll discuss the most powerful instances in a potential newsletter.Read as well as watch much more: second actions Apply to the best Ingenious Firms Awards and be actually recognized as an institution driving the globe ahead through development. Early-rate due date: Friday, August 23.