.Greetings and invited to Modern CEO! I'm Stephanie Mehta, CEO and also main material police officer of Mansueto Ventures. Each week this email list looks into comprehensive approaches to management drawn from discussions along with executives and business owners, and coming from the webpages of Inc. and also Prompt Firm. If you received this bulletin from a pal, you can easily subscribe to receive it on your own every Monday morning.Being a chief executive officer in today times is actually challenging: Stress include delighting investors, handling climbing prices as well as resolving recurring supply-chain problems, and developing wonderful offices. But also for a lot of execs, being actually an ex-CEO shows its own collection of obstacles. Some battle to handle the reduction of the rewards and condition that feature the project, while others feel obliged to comply with the well-trodden road to personal equity or even company panels." Yearly, 1000s of executives retire from long and productive business professions. However handful of are organized the trip they will start," former Frontier Communications chief executive officer Maggie Wilderotter announced earlier this year in a Harvard Service Evaluation essay, penciled with profession train Rick Johnson and also headhunter Dennis Carey.Life past MicrosoftOne past company big shot that seems to be to have actually discovered his footing is past Microsoft chief executive officer Steve Ballmer. Ballmer bought the Los Angeles Clippers basketball group for $2 billion in 2014 and only introduced the group's brand new home, the Intuit Dome. (Prompt Company calls it "Steve Ballmer's $ 2 billion play area for Los Angeles Clippers fans.") The crew and arena have actually given Ballmer a sense of objective that has, in some ways, darkened his knowledge at the tech giant. "I've serviced a bunch of items throughout my occupation at Microsoft, and also I have actually liked all of them all," Ballmer told me during the course of a meeting this month at Intuit Dome facing an audience that featured participants of the Young Presidents' Company along with development employees who assisted construct the amenities and also their family members. "Yet ... in the progression of this particular structure, I possibly had a clearer perspective of what I wanted to do, and I have one of the most complete satisfaction, not just because it prospered, however [considering that] it is actually a financial investment in the neighborhood, also." Intuit Dome has actually significantly been a passion task for Ballmer, that found to make sure that all supporters possess a superior expertise. Every seat is actually created along with effortless accessibility to concessions as well as shower rooms, phone charging capacities, and also sufficient lower leg room, no matter ticket price.Ballmer's sizable expenditures are actually paying off. The Clippers won 51 activities in the 2023-2024 season, and finished fourth in the NBA Western Association. (The Dallas Mavericks removed the team from the playoffs.) And Ballmer consistently ranks as being one of the top NBA managers in follower polls.He is an unexpected role model for post-CEO lifestyle. His retired life from Microsoft in 2014 after 34 years at the firm and also 13 years as chief executive officer was psychological and also laden. Though earnings virtually tripled in the course of his period, the stock basically stagnated, as well as the company overlooked the chance to become a player in cell phones and also web services. Under the gun coming from the provider's panel, Ballmer found to overhaul the provider prior to eventually choosing he was certainly not the very best individual to relocate Microsoft forward. A press reporter who recorded his separation coming from Microsoft defined him as "very sad to leave the business." CHIEF EXECUTIVE OFFICER, reinventedPart of what makes Ballmer a second-act success tale is that he really did not try to reproduce his business life. Instead, he confiscated a chance to acquire the Clippers after previous co-owner Donald Sterling was prohibited coming from managing the crew or relating to the NBA. "Having a lot of selections can easily result in decision exhaustion, going back to skip alternatives, or perhaps steering clear of making a decision altogether," Wilderotter as well as her co-authors point out, encouraging ex-CEOs to as an alternative redefine their purpose or identity. (Ballmer is actually likewise creator of USAFacts, a nonpartisan information company.) Expense George, the past Medtronic chief executive officer who modify themself as a leadership master after retired life, has pointed out that the past CEOs who thrive are actually the ones who discover means "to generate or even nourish things that are going to outlive them." In the course of our interview at the arena, Ballmer resembled this sentiment. "A person informed me the moment, 'Nobody ever actually owns a basketball staff. You care for it. You shepherd it, and you deliver it along,'" he claims. "Intuit Dome could be a little of what I carry out to shepherd this crew throughout. Considering that it's possessed due to the followers at the end of the time, as well as our experts only look after it." Are you a single chief executive officer in a second act?Are you a past chief executive officer that possesses found reason in your 2nd process? Exactly how performed you set about locating your new identification? Send your insights and also narratives to me at stephaniemehta@mansueto.com. I'll share one of the most compelling examples in a future newsletter.Read and also watch a lot more: second actions Put on the Most Impressive Firms Awards as well as be acknowledged as a company driving the world onward via advancement. Early-rate deadline: Friday, August 23.