.Hey there as well as invited to Modern CEO! I'm Stephanie Mehta, CEO as well as main content policeman of Mansueto Ventures. Each week this email list explores comprehensive methods to leadership drawn from conversations with executives and also entrepreneurs, and also from the webpages of Inc. as well as Rapid Business. If you got this bulletin coming from a close friend, you may join to get it on your own every Monday morning.Being a CEO in today times is tough: Tensions consist of satisfying shareholders, managing climbing prices and also resolving ongoing supply-chain problems, and also making wonderful place of work. But also for numerous managers, being an ex-CEO offers its very own collection of difficulties. Some problem to deal with the reduction of the benefits and status that feature the task, while others really feel obliged to adhere to the well-trodden pathway to exclusive equity or even corporate panels." Yearly, countless execs relinquish lengthy and productive company occupations. However few are actually planned for the journey they are about to plunge into," past Frontier Communications CEO Maggie Wilderotter announced earlier this year in a Harvard Organization Testimonial essay, penned with profession train Rick Smith and also talent scout Dennis Carey.Life past MicrosoftOne past company big shot who seems to have actually discovered his footing is previous Microsoft chief executive officer Steve Ballmer. Ballmer got the Los Angeles Clippers basketball crew for $2 billion in 2014 as well as merely introduced the staff's brand-new home, the Intuit Dome. (Swift Firm calls it "Steve Ballmer's $ 2 billion play ground for LA Clippers supporters.") The group and also sector have given Ballmer a sense of purpose that possesses, somehow, darkened his adventures at the specialist titan. "I have actually worked on a ton of products throughout my profession at Microsoft, and I've loved all of them all," Ballmer told me in the course of a meeting this month at Intuit Dome before a target market that included participants of the Youthful Presidents' Institution in addition to building workers who assisted build the amenities and also their families. "Yet ... in the growth of this particular structure, I most likely possessed a more clear sight of what I intended to perform, as well as I possess the absolute most fulfillment, not even if it prospered, but [since] it's an assets in the community, also." Intuit Dome has significantly been a passion job for Ballmer, that found to make sure that all enthusiasts have a fee adventure. Every seat is actually developed with effortless accessibility to deals and washrooms, phone charging functionalities, as well as substantial lower leg room, irrespective of ticket price.Ballmer's sizable investments are settling. The Clippers won 51 video games in the 2023-2024 season, as well as finished fourth in the NBA Western Conference. (The Dallas Mavericks eliminated the group coming from the playoffs.) As well as Ballmer routinely rates as one of the leading NBA proprietors in supporter polls.He is actually a not likely good example for post-CEO life. His retirement life coming from Microsoft in 2014 after 34 years at the provider and also 13 years as CEO was psychological as well as laden. Though revenues nearly tripled during his period, the share practically went stale, and also the business missed the chance to end up being a gamer in mobile phones as well as web services. Under pressure from the provider's panel, Ballmer looked for to overhaul the firm before inevitably determining he was actually not the most ideal individual to relocate Microsoft ahead. A media reporter that told his separation from Microsoft illustrated him as "quite saddening to leave behind the provider." CEO, reinventedPart of what produces Ballmer a second-act results tale is that he didn't attempt to reproduce his company lifestyle. Instead, he confiscated an option to obtain the Clippers after previous co-owner Donald Sterling was banned coming from operating the crew or connecting with the NBA. "Possessing way too many selections may lead to choice exhaustion, returning to fail choices, or maybe staying away from deciding entirely," Wilderotter as well as her co-authors point out, urging ex-CEOs to instead redefine their function or even identification. (Ballmer is actually likewise owner of USAFacts, a nonpartisan records provider.) Costs George, the past Medtronic CEO that modify himself as a leadership guru after retirement life, has stated that the past CEOs who prosper are the ones that find methods "to create or even support traits that will certainly outlast them." Throughout our interview at the stadium, Ballmer reflected this view. "Someone told me once, 'No person ever actually has a baseball team. You handle it. You shepherd it, and you carry it along,'" he mentions. "Intuit Dome could be a small amount of what I perform to shepherd this crew along. Because it's owned by the followers in the end of the day, and also our team simply take care of it." Are you a single chief executive officer in a second act?Are you a past CEO who possesses located function in your 2nd action? How did you engage in locating your new identification? Send your ideas and also narratives to me at stephaniemehta@mansueto.com. I'll share the absolute most engaging examples in a potential newsletter.Read and also view more: 2nd actions Relate to the best Ingenious Business Honors and also be recognized as an association steering the globe forward through development. Early-rate target date: Friday, August 23.