.Hello and also welcome to Modern CEO! I am actually Stephanie Mehta, CEO as well as chief satisfied policeman of Mansueto Ventures. Weekly this e-newsletter discovers broad methods to management drawn from discussions along with execs and also business owners, and from the pages of Inc. and Rapid Firm. If you received this email list coming from a buddy, you may join to receive it yourself every Monday morning.Being a CEO nowadays is actually hard: Stress feature pleasing shareholders, dealing with rising costs and also fixing recurring supply-chain issues, and also making fantastic offices. But for numerous managers, being actually an ex-CEO provides its very own collection of obstacles. Some problem to cope with the loss of the perks and also standing that feature the job, while others really feel obliged to comply with the well-trodden course to personal equity or even business boards." Annually, lots of execs relinquish long as well as prosperous corporate professions. Yet few are actually prepared for the quest they are about to embark on," previous Outpost Communications CEO Maggie Wilderotter announced earlier this year in a Harvard Organization Customer review essay, penciled with career coach Rick Smith and talent scout Dennis Carey.Life past MicrosoftOne former company big shot that seems to have actually discovered his footing is past Microsoft chief executive officer Steve Ballmer. Ballmer purchased the Los Angeles Clippers baseball group for $2 billion in 2014 and also only introduced the crew's brand new home, the Intuit Dome. (Rapid Business calls it "Steve Ballmer's $ 2 billion play area for LA Clippers followers.") The staff as well as field have offered Ballmer a sense of objective that possesses, somehow, darkened his adventures at the technician giant. "I've worked with a lot of items over the course of my occupation at Microsoft, and also I've loved all of them all," Ballmer informed me throughout a job interview this month at Intuit Dome in front of an audience that featured participants of the Young Presidents' Association in addition to development laborers who helped build the facility and also their families. "Yet ... in the advancement of the building, I perhaps had a clearer scenery of what I would like to perform, as well as I have the most satisfaction, not just because it turned out well, however [considering that] it is actually an investment in the area, as well." Intuit Dome has significantly been actually a passion job for Ballmer, who looked for to ensure that all fans possess a costs experience. Every seat is actually developed with simple accessibility to concessions and also washrooms, phone billing capabilities, and adequate leg area, no matter ticket price.Ballmer's significant investments are actually repaying. The Clippers gained 51 video games in the 2023-2024 season, and completed 4th in the NBA Western Association. (The Dallas Mavericks got rid of the crew coming from the playoffs.) And Ballmer consistently rates being one of the leading NBA owners in supporter polls.He is actually an unlikely shining example for post-CEO lifestyle. His retirement life from Microsoft in 2014 after 34 years at the firm as well as thirteen years as CEO was actually emotional and also laden. Though earnings almost tripled throughout his tenure, the equity basically stood still, as well as the company overlooked the possibility to come to be a gamer in cell phones as well as internet solutions. Under the gun from the firm's board, Ballmer found to remodel the firm prior to essentially choosing he was certainly not the very best person to relocate Microsoft onward. A reporter who told his departure from Microsoft defined him as "really unfortunate to leave the firm." CHIEF EXECUTIVE OFFICER, reinventedPart of what helps make Ballmer a second-act effectiveness story is actually that he failed to try to reproduce his company lifestyle. Somewhat, he took possession of an option to acquire the Clippers after previous co-owner Donald Sterling was outlawed from managing the group or even relating to the NBA. "Having way too many selections can cause decision exhaustion, reverting to fail choices, or even staying away from choosing completely," Wilderotter as well as her co-authors claim, recommending ex-CEOs to rather redefine their purpose or identity. (Ballmer is additionally creator of USAFacts, a detached data business.) Expense George, the former Medtronic chief executive officer who modify himself as a management expert after retirement life, has actually mentioned that the past CEOs who thrive are actually the ones that discover techniques "to make or support factors that are going to outlast all of them." During our interview at the field, Ballmer resembled this conviction. "Somebody told me as soon as, 'Nobody ever before actually possesses a baseball crew. You care for it. You shepherd it, and you carry it along,'" he mentions. "Intuit Dome can be a bit of what I perform to shepherd this staff throughout. Since it is actually possessed due to the fans in the end of the time, and our company only care for it." Are you an one-time CEO in a 2nd act?Are you a former CEO who possesses discovered objective in your second act? Just how did you handle locating your brand-new identification? Deliver your insights as well as stories to me at stephaniemehta@mansueto.com. I'll share the best powerful instances in a potential newsletter.Read and see much more: second acts Put on the absolute most Impressive Firms Honors as well as be actually recognized as an association steering the planet onward via technology. Early-rate due date: Friday, August 23.