.Hey there and welcome to Modern CEO! I am actually Stephanie Mehta, chief executive officer and main content police officer of Mansueto Ventures. Every week this e-newsletter looks into comprehensive strategies to management drawn from discussions along with executives and also business people, and also coming from the web pages of Inc. as well as Prompt Provider. If you acquired this e-newsletter from a pal, you can join to receive it yourself every Monday morning.Being a CEO nowadays is difficult: Stress include delighting investors, dealing with rising prices and dealing with on-going supply-chain concerns, as well as developing wonderful place of work. However, for many executives, being actually an ex-CEO shows its very own set of obstacles. Some battle to deal with the reduction of the rewards and also status that include the job, while others really feel required to follow the well-trodden path to private equity or even company boards." Yearly, thousands of execs relinquish lengthy and effective company careers. However few are actually organized the quest they will start," former Frontier Communications CEO Maggie Wilderotter announced earlier this year in a Harvard Business Customer review essay, penciled with occupation train Rick Smith and also headhunter Dennis Carey.Life beyond MicrosoftOne previous company big shot that appears to have actually found his ground is actually previous Microsoft chief executive officer Steve Ballmer. Ballmer got the Los Angeles Clippers basketball crew for $2 billion in 2014 and only introduced the staff's brand-new home, the Intuit Dome. (Swift Firm calls it "Steve Ballmer's $ 2 billion playground for Los Angeles Clippers fans.") The group and field have actually offered Ballmer a feeling of reason that has, in some ways, darkened his experiences at the specialist titan. "I have actually worked on a bunch of items over the course of my job at Microsoft, and I've liked all of them all," Ballmer informed me throughout a meeting this month at Intuit Dome facing a target market that included members of the Youthful Presidents' Company and also building laborers who helped develop the center and also their households. "Yet ... in the progression of this structure, I probably possessed a clearer sight of what I would like to carry out, and also I possess one of the most fulfillment, certainly not just because it prospered, yet [since] it is actually an investment in the area, also." Intuit Dome has actually significantly been actually a passion job for Ballmer, that sought to guarantee that all enthusiasts possess a costs experience. Every seat is designed with very easy access to deals and restrooms, phone demanding capabilities, and enough lower leg area, despite ticket price.Ballmer's considerable assets are actually paying off. The Clippers gained 51 video games in the 2023-2024 season, as well as finished fourth in the NBA Western Association. (The Dallas Mavericks got rid of the group from the playoffs.) As well as Ballmer often rates as one of the top NBA managers in fan polls.He is an extremely unlikely role model for post-CEO lifestyle. His retired life from Microsoft in 2014 after 34 years at the provider as well as 13 years as CEO was mental as well as stuffed. Though incomes virtually tripled during his tenure, the share generally went stale, as well as the company skipped the chance to end up being a gamer in smart phones and also web services. Under pressure coming from the provider's panel, Ballmer found to revamp the provider just before ultimately determining he was actually certainly not the very best individual to move Microsoft ahead. A reporter who recorded his separation coming from Microsoft defined him as "quite depressing to leave behind the company." CEO, reinventedPart of what creates Ballmer a second-act excellence story is actually that he didn't attempt to recreate his company lifestyle. Rather, he took possession of an option to obtain the Clippers after previous co-owner Donald Sterling was actually banned from managing the group or even relating to the NBA. "Possessing excessive selections can easily lead to selection exhaustion, reverting to default alternatives, or even staying away from deciding entirely," Wilderotter and her co-authors say, suggesting ex-CEOs to as an alternative redefine their purpose or even identification. (Ballmer is also founder of USAFacts, a detached information firm.) Bill George, the previous Medtronic CEO that modify themself as a leadership guru after retirement, has stated that the previous CEOs that grow are the ones who find ways "to generate or even nurture factors that will outlive all of them." Throughout our meeting at the stadium, Ballmer resembled this view. "Someone told me once, 'Nobody ever actually possesses a baseball staff. You handle it. You shepherd it, and you take it along,'" he claims. "Intuit Dome can be a small amount of what I carry out to shepherd this crew throughout. Considering that it is actually possessed by the fans by the end of the time, as well as our experts merely care for it." Are you a single chief executive officer in a second act?Are you a former chief executive officer that possesses located purpose in your second action? How performed you tackle locating your brand-new identity? Deliver your knowledge as well as stories to me at stephaniemehta@mansueto.com. I'll share one of the most powerful instances in a potential newsletter.Read as well as check out more: second actions Relate to the absolute most Impressive Business Awards and also be identified as an organization steering the planet onward with technology. Early-rate due date: Friday, August 23.