.Hello there and also welcome to Modern CEO! I'm Stephanie Mehta, CEO as well as main satisfied policeman of Mansueto Ventures. Each week this bulletin explores comprehensive techniques to management drawn from chats along with managers and business owners, and coming from the web pages of Inc. as well as Prompt Provider. If you got this e-newsletter from a close friend, you may enroll to acquire it yourself every Monday morning.Being a chief executive officer in these times is hard: Stress feature satisfying shareholders, dealing with increasing costs and solving on-going supply-chain concerns, and also producing great place of work. But also for numerous executives, being an ex-CEO shows its personal set of difficulties. Some battle to handle the loss of the advantages and condition that include the project, while others feel obliged to adhere to the well-trodden path to private equity or company boards." Yearly, thousands of execs relinquish long and effective business occupations. Yet couple of are gotten ready for the trip they are about to plunge into," past Frontier Communications CEO Maggie Wilderotter declared previously this year in a Harvard Company Assessment essay, penned with occupation trainer Rick Smith as well as headhunter Dennis Carey.Life past MicrosoftOne previous corporate big shot who appears to have discovered his ground is past Microsoft CEO Steve Ballmer. Ballmer acquired the Los Angeles Clippers basketball staff for $2 billion in 2014 as well as simply revealed the staff's brand-new home, the Intuit Dome. (Prompt Firm calls it "Steve Ballmer's $ 2 billion play area for Los Angeles Clippers followers.") The team and sector have actually given Ballmer a sense of reason that possesses, somehow, shrouded his knowledge at the tech giant. "I have actually serviced a bunch of products throughout my career at Microsoft, and also I've liked them all," Ballmer told me throughout an interview this month at Intuit Dome before a target market that consisted of members of the Youthful Presidents' Institution in addition to development laborers that helped build the establishment as well as their loved ones. "But ... in the growth of the property, I most likely possessed a clearer viewpoint of what I would like to perform, as well as I possess one of the most satisfaction, not just because it turned out well, but [given that] it's a financial investment in the area, as well." Intuit Dome has actually quite been actually an enthusiasm venture for Ballmer, who found to make certain that all followers have a fee expertise. Every chair is developed along with simple accessibility to concessions as well as shower rooms, phone charging functionalities, as well as adequate leg room, irrespective of ticket price.Ballmer's substantial financial investments are actually paying off. The Clippers won 51 activities in the 2023-2024 time, and completed 4th in the NBA Western Conference. (The Dallas Mavericks removed the staff from the playoffs.) And also Ballmer regularly places as one of the leading NBA owners in follower polls.He is actually a not likely 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 mental and also tangled up. Though earnings nearly tripled throughout his tenure, the share generally stagnated, and the company missed the chance to come to be a player in cell phones and world wide web companies. Under pressure coming from the business's panel, Ballmer looked for to revamp the provider just before ultimately deciding he was not the best person to relocate Microsoft ahead. A reporter that told his parting from Microsoft illustrated him as "incredibly saddening to leave the company." CHIEF EXECUTIVE OFFICER, reinventedPart of what creates Ballmer a second-act success story is that he failed to attempt to recreate his corporate life. Rather, he seized an option to get the Clippers after previous co-owner Donald Sterling was actually disallowed coming from operating the staff or relating to the NBA. "Possessing way too many choices may trigger decision tiredness, returning to default possibilities, or even staying away from making a decision completely," Wilderotter as well as her co-authors claim, suggesting ex-CEOs to as an alternative redefine their purpose or even identity. (Ballmer is additionally owner of USAFacts, a detached records firm.) Expense George, the past Medtronic chief executive officer who recast themself as a leadership guru after retired life, has actually said that the past Chief executive officers that prosper are actually the ones who locate ways "to produce or even nurture things that are going to outlast them." In the course of our interview at the arena, Ballmer resembled this conviction. "A person informed me once, 'No person ever definitely has a baseball crew. You handle it. You shepherd it, as well as you deliver it along,'" he claims. "Intuit Dome could be a little of what I do to shepherd this staff throughout. Since it's possessed by the fans in the end of the day, as well as our experts simply care for it." Are you a single chief executive officer in a 2nd act?Are you a past chief executive officer who possesses found objective in your 2nd action? Exactly how performed you engage in finding your brand new identity? Send your insights as well as stories to me at stephaniemehta@mansueto.com. I'll discuss the most convincing examples in a potential newsletter.Read and view even more: second actions Apply to the best Impressive Firms Honors as well as be actually realized as an organization driving the globe ahead with advancement. Early-rate due date: Friday, August 23.