.Hello and invited to Modern CEO! I am actually Stephanie Mehta, CEO and also primary material officer of Mansueto Ventures. Every week this e-newsletter discovers inclusive methods to management reasoned conversations with executives and also business owners, as well as from the web pages of Inc. and also Swift Business. If you acquired this e-newsletter coming from a buddy, you may join to get it on your own every Monday morning.Being a CEO in these times is challenging: Pressures consist of delighting investors, dealing with increasing prices and dealing with continuous supply-chain problems, and also making fantastic work environments. But for lots of executives, being an ex-CEO provides its very own set of difficulties. Some problem to cope with the reduction of the perks and also standing that include the task, while others experience obliged to observe the well-trodden pathway to private equity or even business panels." Yearly, lots of executives retire from long as well as productive business professions. But couple of are actually planned for the experience they will plunge into," past Outpost Communications chief executive officer Maggie Wilderotter stated previously this year in a Harvard Organization Customer review essay, penned along with occupation trainer Rick Smith as well as talent scout Dennis Carey.Life beyond MicrosoftOne previous company tribal chief who appears to have discovered his ground is former Microsoft CEO Steve Ballmer. Ballmer got the Los Angeles Clippers basketball team for $2 billion in 2014 as well as simply introduced the group's brand new home, the Intuit Dome. (Prompt Company calls it "Steve Ballmer's $ 2 billion playing field for Los Angeles Clippers enthusiasts.") The staff as well as sector have given Ballmer a feeling of purpose that possesses, in some ways, darkened his adventures at the specialist giant. "I've focused on a bunch of items over the course of my career at Microsoft, and also I have actually adored them all," Ballmer informed me throughout an interview this month at Intuit Dome before a target market that consisted of participants of the Youthful Presidents' Company along with development workers that helped build the establishment and also their loved ones. "But ... in the advancement of this particular property, I probably possessed a clearer sight of what I wanted to perform, as well as I have the best satisfaction, not just because it thrived, however [given that] it's an assets in the community, also." Intuit Dome has actually very much been a passion venture for Ballmer, who found to make sure that all supporters possess a fee experience. Every seat is developed along with quick and easy access to deals and washrooms, phone charging capacities, and enough lower leg room, regardless of ticket price.Ballmer's significant financial investments are paying. The Clippers gained 51 games in the 2023-2024 period, as well as ended up fourth in the NBA Western Event. (The Dallas Mavericks did away with the crew coming from the playoffs.) As well as Ballmer routinely ranks being one of the best NBA proprietors in fan polls.He is an unexpected shining example for post-CEO lifestyle. His retirement life coming from Microsoft in 2014 after 34 years at the company and thirteen years as CEO was mental as well as tangled up. Though profits nearly tripled throughout his tenure, the stock practically stood still, as well as the firm overlooked the option to come to be a gamer in mobile phones and world wide web companies. Under the gun from the provider's panel, Ballmer looked for to overhaul the company prior to essentially deciding he was actually not the most effective individual to relocate Microsoft onward. A press reporter who recorded his separation coming from Microsoft explained him as "really saddening to leave the provider." CHIEF EXECUTIVE OFFICER, reinventedPart of what creates Ballmer a second-act effectiveness account is that he failed to attempt to recreate his corporate life. Instead, he took possession of a chance to obtain the Clippers after previous co-owner Donald Sterling was prohibited coming from running the staff or relating to the NBA. "Possessing excessive selections may lead to decision fatigue, returning to fail alternatives, or perhaps steering clear of making a decision entirely," Wilderotter as well as her co-authors mention, urging ex-CEOs to rather redefine their reason or identity. (Ballmer is also founder of USAFacts, a nonpartisan information provider.) Bill George, the former Medtronic CEO that recast themself as a management expert after retirement, has claimed that the former CEOs that flourish are the ones who locate means "to make or support factors that will definitely outlive them." In the course of our interview at the field, Ballmer echoed this view. "Somebody told me once, 'No person ever actually has a basketball crew. You take care of it. You shepherd it, as well as you take it along,'" he points out. "Intuit Dome can be a small amount of what I perform to shepherd this team along. Given that it is actually owned by the supporters by the end of the day, as well as we just look after it." Are you a single CEO in a 2nd act?Are you a past chief executive officer that possesses discovered reason in your second act? How did you deal with finding your new identity? Send your insights as well as narratives to me at stephaniemehta@mansueto.com. I'll share the absolute most engaging examples in a future newsletter.Read as well as enjoy a lot more: second actions Apply to the Most Cutting-edge Firms Honors as well as be actually realized as an organization steering the planet forward through development. Early-rate due date: Friday, August 23.