.Hello as well as welcome to Modern CEO! I am actually Stephanie Mehta, CEO and chief content police officer of Mansueto Ventures. Every week this e-newsletter looks into broad strategies to management reasoned chats along with executives as well as business people, and coming from the webpages of Inc. and Swift Provider. If you got this bulletin from a pal, you can easily enroll to get it yourself every Monday morning.Being a chief executive officer these days is hard: Tensions consist of pleasing investors, taking care of rising prices and addressing ongoing supply-chain issues, and producing great workplaces. But for a lot of executives, being an ex-CEO provides its own set of problems. Some problem to deal with the reduction of the rewards and also condition that include the project, while others feel obliged to comply with the well-trodden course to exclusive equity or business panels." Every year, thousands of execs relinquish long and productive company careers. However handful of are prepared for the quest they are about to start," former Frontier Communications CEO Maggie Wilderotter announced previously this year in a Harvard Business Assessment essay, penned along with job train Rick Johnson as well as talent scout Dennis Carey.Life beyond MicrosoftOne previous corporate chieftain that seems to be to have actually found his footing is previous Microsoft chief executive officer Steve Ballmer. Ballmer purchased the Los Angeles Clippers basketball group for $2 billion in 2014 and also merely revealed the staff's brand new home, the Intuit Dome. (Swift Company calls it "Steve Ballmer's $ 2 billion playing field for LA Clippers enthusiasts.") The crew and sector have actually offered Ballmer a sense of function that has, in some ways, eclipsed his adventures at the specialist titan. "I have actually worked on a bunch of items throughout my occupation at Microsoft, and I've liked them all," Ballmer informed me during the course of an interview this month at Intuit Dome in front of a reader that consisted of participants of the Young Presidents' Association along with development employees that assisted build the center and also their loved ones. "However ... in the development of this particular building, I perhaps possessed a more clear sight of what I desired to perform, as well as I possess the best complete satisfaction, not even if it thrived, however [due to the fact that] it is actually a financial investment in the community, too." Intuit Dome has very much been actually an enthusiasm venture for Ballmer, who looked for to make sure that all enthusiasts have a superior adventure. Every seat is actually developed along with easy access to concessions as well as washrooms, phone asking for capacities, as well as adequate leg area, no matter ticket price.Ballmer's considerable assets are actually settling. The Clippers won 51 video games in the 2023-2024 time, and also ended up fourth in the NBA Western Association. (The Dallas Mavericks did away with the team coming from the playoffs.) And Ballmer regularly positions as one of the leading NBA managers in fan polls.He is actually an unlikely role model for post-CEO lifestyle. His retired life from Microsoft in 2014 after 34 years at the business and 13 years as chief executive officer was emotional as well as fraught. Though profits nearly tripled throughout his tenure, the share basically stagnated, and also the provider skipped the chance to become a gamer in smart phones and also web services. Under the gun coming from the company's board, Ballmer sought to overhaul the business prior to ultimately choosing he was not the best individual to move Microsoft forward. A reporter that told his departure from Microsoft described him as "very saddening to leave the provider." CEO, reinventedPart of what makes Ballmer a second-act results story is that he didn't try to recreate his business life. Rather, he took a possibility to obtain the Clippers after previous co-owner Donald Sterling was actually disallowed from operating the group or connecting with the NBA. "Having excessive selections can easily cause selection exhaustion, going back to default options, or even staying away from making a decision completely," Wilderotter and also her co-authors say, suggesting ex-CEOs to rather redefine their purpose or even identification. (Ballmer is likewise creator of USAFacts, a nonpartisan records company.) Bill George, the former Medtronic chief executive officer who recast himself as a leadership authority after retirement, has actually stated that the previous CEOs who prosper are the ones that locate means "to create or even nourish points that will outlive them." During our meeting at the stadium, Ballmer echoed this conviction. "A person told me when, 'No one ever before really possesses a baseball group. You handle it. You shepherd it, and also you carry it along,'" he points out. "Intuit Dome can be a small amount of what I carry out to shepherd this group throughout. Considering that it's had due to the followers at the end of the day, and also our team simply care for it." Are you a single CEO in a 2nd act?Are you a past chief executive officer who possesses discovered function in your 2nd process? Just how performed you engage in locating your brand-new identity? Send your ideas as well as anecdotes to me at stephaniemehta@mansueto.com. I'll share the absolute most powerful examples in a potential newsletter.Read and also see even more: second process Put on the Most Impressive Companies Awards and also be realized as a company steering the world onward by means of technology. Early-rate due date: Friday, August 23.