.Hello and also invited to Modern CEO! I am actually Stephanie Mehta, chief executive officer and chief satisfied officer of Mansueto Ventures. Weekly this e-newsletter explores inclusive techniques to management reasoned chats with managers and entrepreneurs, as well as from the webpages of Inc. and also Prompt Provider. If you acquired this newsletter from a good friend, you can enroll to get it yourself every Monday morning.Being a CEO nowadays is actually hard: Stress include fulfilling investors, managing climbing prices as well as resolving ongoing supply-chain concerns, and making wonderful place of work. But also for many managers, being an ex-CEO offers its very own collection of challenges. Some battle to deal with the reduction of the rewards and also standing that come with the task, while others really feel required to observe the well-trodden pathway to exclusive equity or business boards." Annually, 1000s of executives retire from long and prosperous business careers. Yet handful of are actually organized the experience they will start," previous Outpost Communications chief executive officer Maggie Wilderotter declared previously this year in a Harvard Service Testimonial essay, penned along with profession coach Rick Smith and also talent scout Dennis Carey.Life past MicrosoftOne former corporate big shot who appears to have found his footing is former Microsoft chief executive officer Steve Ballmer. Ballmer purchased the Los Angeles Clippers baseball staff for $2 billion in 2014 and also just unveiled the group's new home, the Intuit Dome. (Fast Firm calls it "Steve Ballmer's $ 2 billion playground for LA Clippers enthusiasts.") The staff and also arena have provided Ballmer a feeling of purpose that possesses, in some ways, darkened his expertises at the technology giant. "I've focused on a considerable amount of products over the course of my profession at Microsoft, as well as I have actually adored them all," Ballmer informed me in the course of a job interview this month at Intuit Dome before a viewers that consisted of members of the Young Presidents' Institution and also building and construction employees who aided construct the establishment and their loved ones. "But ... in the development of this property, I most likely possessed a more clear sight of what I desired to carry out, and I possess one of the most contentment, not just because it prospered, however [since] it is actually a financial investment in the area, as well." Intuit Dome has quite been a passion task for Ballmer, who found to ensure that all followers possess a costs expertise. Every chair is developed along with effortless accessibility to concessions and restrooms, phone demanding functionalities, and enough lower leg room, regardless of ticket price.Ballmer's sizable expenditures are paying off. The Clippers succeeded 51 video games in the 2023-2024 period, and ended up fourth in the NBA Western Event. (The Dallas Mavericks did away with the crew from the playoffs.) As well as Ballmer consistently rates as one of the best NBA managers in supporter polls.He is a not likely shining example for post-CEO lifestyle. His retired life coming from Microsoft in 2014 after 34 years at the business and thirteen years as CEO was actually mental as well as fraught. Though profits nearly tripled during the course of his tenure, the assets basically stood still, and also the company skipped the opportunity to become a gamer in cell phones and web services. Under the gun coming from the company's board, Ballmer looked for to overhaul the provider just before inevitably determining he was actually not the greatest individual to relocate Microsoft onward. A reporter who chronicled his retirement from Microsoft defined him as "extremely unfortunate to leave the company." CHIEF EXECUTIVE OFFICER, reinventedPart of what produces Ballmer a second-act excellence tale is that he failed to try to reproduce his company lifestyle. Rather, he took a chance to obtain the Clippers after previous co-owner Donald Sterling was actually banned from running the crew or linking with the NBA. "Possessing too many selections can easily cause selection tiredness, returning to fail choices, and even staying away from making a decision altogether," Wilderotter and her co-authors state, suggesting ex-CEOs to instead redefine their reason or even identification. (Ballmer is actually likewise creator of USAFacts, a nonpartisan information business.) Costs George, the past Medtronic CEO that recast themself as a management guru after retirement, has mentioned that the previous Chief executive officers who grow are actually the ones who discover means "to create or nurture factors that are going to outlive all of them." Throughout our job interview at the field, Ballmer echoed this sentiment. "Somebody informed me once, 'No one ever before really owns a baseball crew. You handle it. You shepherd it, and also you carry it along,'" he mentions. "Intuit Dome may be a little of what I do to shepherd this team throughout. Considering that it's had by the enthusiasts in the end of the day, and also we only deal with it." Are you an one-time chief executive officer in a second act?Are you a past chief executive officer who has found reason in your second act? Just how performed you set about finding your new identification? Deliver your knowledge and also anecdotes to me at stephaniemehta@mansueto.com. I'll share the best convincing instances in a future newsletter.Read and see even more: 2nd acts Relate to the Most Impressive Business Honors and be identified as an organization steering the globe forward with innovation. Early-rate deadline: Friday, August 23.