.Hello there and welcome to Modern CEO! I'm Stephanie Mehta, CEO as well as chief content police officer of Mansueto Ventures. Each week this e-newsletter discovers broad strategies to leadership reasoned chats with execs and also entrepreneurs, and also coming from the pages of Inc. and Rapid Business. If you acquired this newsletter from a buddy, you can subscribe to acquire it yourself every Monday morning.Being a CEO these days is difficult: Tensions include pleasing shareholders, handling rising costs as well as resolving ongoing supply-chain issues, and producing excellent work environments. But for many executives, being actually an ex-CEO presents its very own collection of challenges. Some battle to cope with the reduction of the perks and also standing that include the task, while others really feel obliged to adhere to the well-trodden course to personal equity or even business panels." Annually, hundreds of execs relinquish long and also successful company jobs. Yet few are actually organized the experience they will start," previous Outpost Communications CEO Maggie Wilderotter proclaimed previously this year in a Harvard Organization Review essay, penned with occupation trainer Rick Johnson as well as headhunter Dennis Carey.Life beyond MicrosoftOne former business chieftain who appears to have actually discovered his ground is actually past Microsoft chief executive officer Steve Ballmer. Ballmer got the Los Angeles Clippers baseball group for $2 billion in 2014 as well as just unveiled the team's brand-new home, the Intuit Dome. (Rapid Firm calls it "Steve Ballmer's $ 2 billion recreation space for Los Angeles Clippers fans.") The group and sector have provided Ballmer a sense of reason that possesses, somehow, eclipsed his knowledge at the specialist giant. "I have actually worked on a ton of items throughout my profession at Microsoft, as well as I have actually adored them all," Ballmer informed me in the course of an interview this month at Intuit Dome facing a target market that consisted of members of the Youthful Presidents' Organization along with development employees who assisted create the location and their family members. "However ... in the progression of this structure, I probably had a clearer scenery of what I would like to perform, as well as I have the best total satisfaction, not just because it turned out well, however [given that] it is actually a financial investment in the community, too." Intuit Dome has very much been a passion venture for Ballmer, that found to make sure that all enthusiasts possess a costs experience. Every chair is actually made with very easy access to giving ins as well as shower rooms, phone asking for capacities, as well as enough leg space, regardless of ticket price.Ballmer's significant assets are paying off. The Clippers won 51 video games in the 2023-2024 period, and also ended up 4th in the NBA Western Conference. (The Dallas Mavericks did away with the staff coming from the playoffs.) As well as Ballmer routinely ranks being one of the best NBA owners in enthusiast polls.He is actually a not likely role model for post-CEO lifestyle. His retirement from Microsoft in 2014 after 34 years at the company as well as 13 years as CEO was actually emotional as well as tangled up. Though incomes almost tripled during his period, the stock essentially went stale, and the business skipped the chance to come to be a gamer in mobile devices and world wide web companies. Struggling coming from the provider's board, Ballmer sought to renew the business prior to essentially deciding he was not the best person to move Microsoft onward. A press reporter who narrated his parting from Microsoft defined him as "quite sad to leave behind the firm." CEO, reinventedPart of what helps make Ballmer a second-act success tale is actually that he failed to try to recreate his business lifestyle. Rather, he confiscated a possibility to obtain the Clippers after previous co-owner Donald Sterling was banned from managing the team or even linking with the NBA. "Having excessive options may bring about choice exhaustion, reverting to default possibilities, or perhaps avoiding making a decision altogether," Wilderotter and her co-authors point out, advising ex-CEOs to as an alternative redefine their purpose or even identification. (Ballmer is actually also founder of USAFacts, a detached data provider.) Bill George, the former Medtronic CEO that modify themself as a leadership authority after retirement life, has stated that the past CEOs who thrive are the ones that discover ways "to create or even nurture traits that will definitely outlive all of them." In the course of our interview at the arena, Ballmer resembled this sentiment. "A person told me when, 'Nobody ever before truly possesses a baseball team. You care for it. You shepherd it, and also you bring it along,'" he claims. "Intuit Dome could be a small amount of what I carry out to shepherd this team along. Since it is actually had by the enthusiasts by the end of the time, and our team merely deal with it." Are you a single chief executive officer in a 2nd act?Are you a former chief executive officer who has discovered reason in your second action? Just how performed you deal with finding your brand new identification? Send your knowledge as well as stories to me at stephaniemehta@mansueto.com. I'll share the absolute most convincing examples in a future newsletter.Read as well as check out a lot more: 2nd acts Relate to the best Impressive Companies Honors and be actually acknowledged as an organization driving the world onward via advancement. Early-rate target date: Friday, August 23.