.Hi and welcome to Modern CEO! I'm Stephanie Mehta, chief executive officer as well as main material policeman of Mansueto Ventures. Weekly this e-newsletter looks into comprehensive techniques to leadership reasoned conversations with managers and business people, and from the webpages of Inc. as well as Prompt Provider. If you acquired this newsletter from a pal, you can easily enroll to acquire it on your own every Monday morning.Being a chief executive officer nowadays is tough: Pressures include fulfilling shareholders, taking care of increasing costs as well as fixing recurring supply-chain problems, as well as making wonderful work environments. But for several managers, being an ex-CEO provides its very own set of difficulties. Some struggle to manage the loss of the advantages and also condition that possess the project, while others feel required to follow the well-trodden path to personal equity or even business boards." Each year, thousands of executives retire from long as well as productive business careers. But few are actually organized the experience they will plunge into," previous Frontier Communications CEO Maggie Wilderotter announced earlier this year in a Harvard Company Evaluation essay, penned with career train Rick Johnson as well as headhunter Dennis Carey.Life beyond MicrosoftOne past company chieftain that seems to be to have located his footing is former Microsoft CEO Steve Ballmer. Ballmer purchased the Los Angeles Clippers basketball team for $2 billion in 2014 and also only unveiled the staff's new home, the Intuit Dome. (Quick Provider calls it "Steve Ballmer's $ 2 billion play area for LA Clippers supporters.") The group and also field have actually provided Ballmer a sense of reason that possesses, in some ways, darkened his experiences at the technician giant. "I have actually serviced a great deal of products over the course of my occupation at Microsoft, as well as I have actually adored all of them all," Ballmer told me during an interview this month at Intuit Dome before a viewers that featured participants of the Young Presidents' Company as well as construction employees that assisted create the facility and also their loved ones. "But ... in the growth of this property, I perhaps had a clearer viewpoint of what I intended to perform, as well as I have the absolute most contentment, not even if it turned out well, however [since] it is actually an expenditure in the neighborhood, too." Intuit Dome has actually quite been an interest project for Ballmer, who looked for to guarantee that all enthusiasts possess a costs expertise. Every chair is designed along with effortless access to giving ins and bathrooms, phone demanding capacities, and sufficient lower leg room, regardless of ticket price.Ballmer's considerable assets are actually paying. The Clippers won 51 games in the 2023-2024 season, and finished fourth in the NBA Western Event. (The Dallas Mavericks got rid of the staff coming from the playoffs.) As well as Ballmer consistently positions as one of the best NBA owners in supporter polls.He is an extremely unlikely good example for post-CEO lifestyle. His retirement from Microsoft in 2014 after 34 years at the company as well as thirteen years as CEO was actually mental as well as fraught. Though incomes almost tripled during his period, the equity essentially stood still, as well as the business overlooked the option to become a gamer in cell phones and also internet companies. Struggling coming from the company's panel, Ballmer found to overhaul the firm just before essentially making a decision he was not the most effective individual to move Microsoft forward. A press reporter who recorded his separation from Microsoft illustrated him as "quite depressing to leave the provider." CEO, reinventedPart of what helps make Ballmer a second-act effectiveness account is actually that he didn't attempt to recreate his company lifestyle. Somewhat, he seized an option to get the Clippers after previous co-owner Donald Sterling was outlawed coming from running the team or relating to the NBA. "Possessing a lot of selections can cause decision tiredness, returning to skip alternatives, or even avoiding choosing completely," Wilderotter as well as her co-authors point out, suggesting ex-CEOs to rather redefine their purpose or identity. (Ballmer is actually also owner of USAFacts, a nonpartisan data business.) Costs George, the former Medtronic CEO who recast himself as a management authority after retirement, has claimed that the former Chief executive officers that thrive are actually the ones that discover techniques "to make or even support points that will definitely outlast all of them." Throughout our interview at the stadium, Ballmer echoed this conviction. "Someone told me when, 'Nobody ever really owns a baseball staff. You deal with it. You shepherd it, as well as you carry it along,'" he states. "Intuit Dome may be a little bit of what I do to shepherd this team throughout. Due to the fact that it is actually possessed by the fans at the end of the day, as well as we only look after it." Are you an one-time CEO in a 2nd act?Are you a previous CEO that possesses found function in your 2nd action? Exactly how performed you engage in locating your new identification? Deliver your ideas and also narratives to me at stephaniemehta@mansueto.com. I'll share the most compelling instances in a potential newsletter.Read and see extra: 2nd actions Relate to the best Impressive Providers Honors as well as be realized as an institution steering the globe ahead by means of technology. Early-rate deadline: Friday, August 23.