.Hello as well as welcome to Modern CEO! I am actually Stephanie Mehta, chief executive officer and also main content officer of Mansueto Ventures. Each week this e-newsletter looks into comprehensive techniques to management reasoned discussions with managers as well as business people, as well as from the pages of Inc. as well as Rapid Company. If you obtained this newsletter coming from a close friend, you may subscribe to get it yourself every Monday morning.Being a chief executive officer these days is actually difficult: Tensions include satisfying investors, dealing with rising expenses as well as dealing with ongoing supply-chain concerns, and also producing fantastic work environments. But for lots of managers, being actually an ex-CEO shows its personal set of problems. Some problem to cope with the reduction of the perks and also status that come with the project, while others really feel obliged to comply with the well-trodden road to private equity or company panels." Annually, 1000s of execs retire from long and productive business careers. Yet handful of are actually gotten ready for the experience they will embark on," former Outpost Communications CEO Maggie Wilderotter stated previously this year in a Harvard Organization Evaluation essay, penned with career train Rick Johnson as well as headhunter Dennis Carey.Life past MicrosoftOne previous business tribal chief that seems to be to have located his footing is former Microsoft CEO Steve Ballmer. Ballmer acquired the Los Angeles Clippers baseball team for $2 billion in 2014 as well as just revealed the team's brand new home, the Intuit Dome. (Fast Provider calls it "Steve Ballmer's $ 2 billion playground for LA Clippers supporters.") The staff and arena have actually given Ballmer a sense of reason that has, in some ways, darkened his experiences at the technician giant. "I have actually serviced a considerable amount of products over the course of my occupation at Microsoft, and also I've enjoyed them all," Ballmer informed me in the course of a meeting this month at Intuit Dome in front of an audience that consisted of members of the Youthful Presidents' Organization as well as development workers that assisted create the location and also their families. "However ... in the development of the property, I most likely possessed a more clear perspective of what I would like to carry out, and I have the most satisfaction, certainly not just because it turned out well, yet [because] it is actually a financial investment in the neighborhood, also." Intuit Dome has actually significantly been an interest project for Ballmer, who found to ensure that all fans have a fee expertise. Every seat is made along with effortless access to giving ins as well as bathrooms, phone billing capacities, and also adequate leg area, regardless of ticket price.Ballmer's substantial assets are settling. The Clippers succeeded 51 activities in the 2023-2024 time, as well as ended up fourth in the NBA Western Conference. (The Dallas Mavericks did away with the group from the playoffs.) And also Ballmer repeatedly places being one of the top NBA managers in fan polls.He is actually an unlikely shining example for post-CEO lifestyle. His retirement life coming from Microsoft in 2014 after 34 years at the provider and 13 years as CEO was actually emotional as well as fraught. Though revenues virtually tripled during the course of his tenure, the assets essentially stood still, and also the provider missed the possibility to come to be a player in mobile phones as well as internet companies. Struggling coming from the provider's board, Ballmer sought to renew the business prior to ultimately making a decision he was not the greatest person to move Microsoft onward. A media reporter who narrated his departure coming from Microsoft illustrated him as "extremely saddening to leave behind the provider." CHIEF EXECUTIVE OFFICER, reinventedPart of what helps make Ballmer a second-act results account is that he didn't choose to recreate his business life. Instead, he took an option to get the Clippers after previous co-owner Donald Sterling was outlawed coming from running the group or linking with the NBA. "Possessing too many selections can lead to selection exhaustion, returning to fail options, or perhaps staying clear of choosing completely," Wilderotter as well as her co-authors claim, suggesting ex-CEOs to instead redefine their objective or even identity. (Ballmer is additionally founder of USAFacts, a nonpartisan records business.) Costs George, the past Medtronic chief executive officer that recast himself as a management master after retired life, has actually claimed that the past CEOs that flourish are the ones that find means "to make or even support traits that will definitely outlive all of them." During our interview at the arena, Ballmer echoed this view. "Someone informed me once, 'No person ever before actually owns a basketball team. You care for it. You shepherd it, and also you deliver it along,'" he states. "Intuit Dome may be a little bit of what I do to shepherd this staff throughout. Considering that it is actually had by the enthusiasts at the end of the time, as well as our company only look after it." Are you a single CEO in a second act?Are you a past CEO that possesses located reason in your 2nd action? How performed you set about discovering your brand-new identification? Send your understandings and anecdotes to me at stephaniemehta@mansueto.com. I'll share the most compelling examples in a potential newsletter.Read and see extra: 2nd actions Put on the best Impressive Companies Awards and be realized as an institution driving the world ahead through innovation. Early-rate due date: Friday, August 23.