.Hello there and also welcome to Modern CEO! I am actually Stephanie Mehta, CEO and primary satisfied policeman of Mansueto Ventures. Weekly this email list checks out broad approaches to management reasoned talks with execs and business owners, and also coming from the pages of Inc. and also Swift Company. If you received this email list from a close friend, you can easily join to receive it on your own every Monday morning.Being a CEO at presents is actually challenging: Tensions consist of satisfying shareholders, handling climbing expenses as well as dealing with on-going supply-chain problems, and making great workplaces. But also for several managers, being actually an ex-CEO offers its own collection of difficulties. Some problem to manage the reduction of the rewards as well as standing that include the job, while others really feel required to follow the well-trodden course to private equity or corporate boards." Each year, thousands of managers retire from lengthy and also productive company careers. But couple of are actually prepared for the adventure they will start," past Frontier Communications chief executive officer Maggie Wilderotter stated previously this year in a Harvard Service Assessment essay, penned with occupation train Rick Smith as well as headhunter Dennis Carey.Life past MicrosoftOne previous corporate big shot who seems to have actually found his footing is actually past Microsoft CEO Steve Ballmer. Ballmer got the Los Angeles Clippers baseball team for $2 billion in 2014 as well as merely revealed the staff's brand-new home, the Intuit Dome. (Quick Provider calls it "Steve Ballmer's $ 2 billion recreation space for Los Angeles Clippers fans.") The group and field have actually given Ballmer a feeling of purpose that has, in some ways, darkened his adventures at the specialist giant. "I have actually dealt with a lot of products throughout my career at Microsoft, and I have actually adored all of them all," Ballmer informed me throughout a meeting this month at Intuit Dome in front of a target market that consisted of participants of the Young Presidents' Company along with construction laborers who helped build the amenities and also their family members. "But ... in the progression of this property, I probably possessed a clearer viewpoint of what I desired to perform, and also I have the most satisfaction, not just because it turned out well, but [because] it's a financial investment in the community, too." Intuit Dome has actually very much been a passion task for Ballmer, who looked for to make certain that all supporters have a costs knowledge. Every chair is made along with very easy accessibility to concessions as well as bathrooms, phone charging capacities, and enough leg space, no matter ticket price.Ballmer's sizable financial investments are paying. The Clippers gained 51 video games in the 2023-2024 time, as well as ended up 4th in the NBA Western Conference. (The Dallas Mavericks did away with the team from the playoffs.) And Ballmer routinely rates as one of the top NBA managers in fan polls.He is actually an extremely unlikely good example for post-CEO lifestyle. His retired life coming from Microsoft in 2014 after 34 years at the firm and thirteen years as CEO was actually emotional as well as stuffed. Though profits virtually tripled during his period, the assets generally stood still, and also the firm missed the chance to become a player in smart phones and internet services. Struggling from the business's panel, Ballmer looked for to spruce up the provider prior to ultimately deciding he was certainly not the best person to move Microsoft forward. A press reporter that chronicled his departure from Microsoft described him as "quite saddening to leave behind the firm." CHIEF EXECUTIVE OFFICER, reinventedPart of what makes Ballmer a second-act success story is actually that he really did not try to reproduce his company life. Rather, he confiscated a chance to get the Clippers after previous co-owner Donald Sterling was actually disallowed from operating the staff or even associating with the NBA. "Possessing excessive options can easily bring about selection exhaustion, returning to skip choices, or even steering clear of deciding altogether," Wilderotter as well as her co-authors say, suggesting ex-CEOs to rather redefine their purpose or identity. (Ballmer is likewise owner of USAFacts, a nonpartisan data company.) Costs George, the past Medtronic CEO who recast himself as a leadership authority after retirement life, has claimed that the previous Chief executive officers who grow are actually the ones that locate means "to develop or nurture factors that will definitely outlive them." In the course of our job interview at the field, Ballmer echoed this feeling. "A person told me when, 'No one ever before really owns a baseball team. You take care of it. You shepherd it, and you bring it along,'" he claims. "Intuit Dome may be a little of what I do to shepherd this staff along. Given that it's possessed due to the supporters by the end of the day, and our team just deal with it." Are you a single CEO in a second act?Are you a previous CEO who has located objective in your 2nd action? Exactly how performed you go about finding your new identification? Deliver your understandings and also stories to me at stephaniemehta@mansueto.com. I'll discuss one of the most compelling examples in a potential newsletter.Read and also view extra: 2nd acts Put on the absolute most Impressive Companies Awards as well as be realized as a company driving the world ahead by means of innovation. Early-rate target date: Friday, August 23.