.Hi there and welcome to Modern CEO! I'm Stephanie Mehta, chief executive officer as well as primary material policeman of Mansueto Ventures. Every week this email list checks out comprehensive approaches to management reasoned discussions with execs as well as business owners, and also coming from the pages of Inc. and also Swift Provider. If you obtained this bulletin from a good friend, you can easily subscribe to acquire it on your own every Monday morning.Being a CEO at presents is tough: Pressures consist of delighting shareholders, taking care of increasing prices and also fixing continuous supply-chain problems, and producing terrific place of work. But for a lot of executives, being actually an ex-CEO provides its very own set of obstacles. Some battle to cope with the reduction of the rewards as well as condition that come with the project, while others experience required to follow the well-trodden path to personal equity or business panels." Every year, hundreds of execs retire from lengthy and also prosperous corporate occupations. However few are organized the adventure they are about to plunge into," previous Outpost Communications CEO Maggie Wilderotter announced previously this year in a Harvard Service Review essay, penned along with profession instructor Rick Johnson and headhunter Dennis Carey.Life past MicrosoftOne previous corporate tribal chief who appears to have actually located his footing is former Microsoft CEO Steve Ballmer. Ballmer got the Los Angeles Clippers baseball team for $2 billion in 2014 as well as merely introduced the group's brand new home, the Intuit Dome. (Fast Business calls it "Steve Ballmer's $ 2 billion recreation space for LA Clippers enthusiasts.") The group and field have actually given Ballmer a sense of reason that possesses, in some ways, eclipsed his knowledge at the specialist titan. "I've serviced a lot of products over the course of my occupation at Microsoft, as well as I've enjoyed all of them all," Ballmer informed me during a meeting this month at Intuit Dome before an audience that featured participants of the Young Presidents' Organization along with development employees that aided create the amenities and also their loved ones. "But ... in the development of this particular building, I possibly possessed a clearer perspective of what I intended to perform, and I have the absolute most satisfaction, certainly not just because it prospered, however [considering that] it's a financial investment in the neighborhood, too." Intuit Dome has actually very much been actually an enthusiasm project for Ballmer, who found to guarantee that all fans have a premium experience. Every seat is designed with very easy accessibility to giving ins and washrooms, phone asking for capacities, and also enough lower leg space, despite ticket price.Ballmer's considerable expenditures are settling. The Clippers won 51 activities in the 2023-2024 period, and also completed 4th in the NBA Western Conference. (The Dallas Mavericks dealt with the group coming from the playoffs.) As well as Ballmer consistently ranks as being one of the leading NBA managers in fan polls.He is actually an improbable good example for post-CEO lifestyle. His retirement coming from Microsoft in 2014 after 34 years at the business and thirteen years as chief executive officer was psychological and fraught. Though profits nearly tripled in the course of his period, the stock basically stood still, as well as the business missed out on the chance to end up being a gamer in mobile devices and also net solutions. Struggling coming from the provider's panel, Ballmer looked for to spruce up the business just before eventually determining he was certainly not the greatest individual to move Microsoft onward. A press reporter who chronicled his departure from Microsoft described him as "very saddening to leave the business." CHIEF EXECUTIVE OFFICER, reinventedPart of what makes Ballmer a second-act effectiveness account is that he failed to choose to reproduce his company lifestyle. Rather, he took possession of an opportunity to obtain the Clippers after previous co-owner Donald Sterling was actually prohibited from running the team or even connecting with the NBA. "Having excessive choices may cause choice fatigue, reverting to skip choices, or perhaps staying clear of choosing altogether," Wilderotter and her co-authors say, recommending ex-CEOs to rather redefine their purpose or even identification. (Ballmer is also creator of USAFacts, a nonpartisan records business.) Costs George, the former Medtronic chief executive officer who recast himself as a management guru after retirement life, has mentioned that the former Chief executive officers who flourish are the ones who find ways "to create or even support things that are going to outlive all of them." Throughout our meeting at the stadium, Ballmer resembled this belief. "Somebody told me the moment, 'No person ever before definitely has a baseball crew. You handle it. You shepherd it, and also you take it along,'" he mentions. "Intuit Dome can be a small amount of what I carry out to shepherd this team along. Because it is actually owned by the supporters at the end of the day, and also our team merely deal with it." Are you a single CEO in a 2nd act?Are you a former CEO who possesses located purpose in your second process? How did you engage in locating your brand-new identity? Send your insights and narratives to me at stephaniemehta@mansueto.com. I'll share the most convincing instances in a future newsletter.Read and also enjoy a lot more: 2nd actions Apply to the absolute most Innovative Companies Awards and also be actually recognized as an association driving the planet onward with technology. Early-rate deadline: Friday, August 23.