.Hey there and appreciated to Modern CEO! I am actually Stephanie Mehta, CEO as well as primary material policeman of Mansueto Ventures. Each week this newsletter discovers inclusive methods to management reasoned conversations with managers and business owners, as well as coming from the webpages of Inc. and also Prompt Company. If you obtained this e-newsletter from a friend, you can easily enroll to obtain it your own self every Monday morning.Being a chief executive officer nowadays is actually hard: Tensions feature fulfilling investors, handling climbing costs and also fixing on-going supply-chain issues, and also producing terrific work environments. However, for numerous managers, being an ex-CEO shows its own set of obstacles. Some problem to manage the reduction of the advantages as well as condition that include the job, while others feel obliged to follow the well-trodden road to private equity or even business boards." Yearly, countless managers retire from long and also successful business occupations. But couple of are planned for the adventure they are about to start," past Frontier Communications chief executive officer Maggie Wilderotter proclaimed earlier this year in a Harvard Organization Testimonial essay, penciled along with occupation train Rick Smith and also talent scout Dennis Carey.Life beyond MicrosoftOne previous company big shot who appears to have actually discovered his footing is actually previous Microsoft chief executive officer Steve Ballmer. Ballmer got the Los Angeles Clippers baseball crew for $2 billion in 2014 and also just unveiled the staff's new home, the Intuit Dome. (Swift Firm calls it "Steve Ballmer's $ 2 billion playing field for Los Angeles Clippers supporters.") The crew as well as sector have provided Ballmer a feeling of function that has, somehow, darkened his knowledge at the tech titan. "I've worked with a bunch of products throughout my job at Microsoft, and also I've adored them all," Ballmer informed me during the course of an interview this month at Intuit Dome before a viewers that consisted of members of the Young Presidents' Association and also building and construction workers that aided create the facility as well as their families. "But ... in the growth of the property, I most likely had a more clear perspective of what I intended to perform, and also I possess the absolute most total satisfaction, certainly not even if it prospered, but [since] it's a financial investment in the neighborhood, too." Intuit Dome has quite been actually a passion venture for Ballmer, that looked for to make certain that all followers possess a costs adventure. Every seat is created with effortless access to deals and also washrooms, phone charging functionalities, and sufficient leg room, irrespective of ticket price.Ballmer's significant assets are settling. The Clippers won 51 games in the 2023-2024 period, and finished 4th in the NBA Western Association. (The Dallas Mavericks got rid of the crew from the playoffs.) And Ballmer consistently positions as being one of the top NBA managers in enthusiast polls.He is actually a not likely good example for post-CEO life. His retired life from Microsoft in 2014 after 34 years at the firm as well as thirteen years as CEO was psychological and filled. Though revenues almost tripled during the course of his tenure, the equity basically stagnated, and also the firm skipped the chance to come to be a player in cell phones and internet services. Under the gun from the provider's panel, Ballmer found to spruce up the provider prior to essentially choosing he was not the greatest individual to relocate Microsoft forward. A media reporter who recorded his parting from Microsoft explained him as "very unfortunate to leave the business." CEO, reinventedPart of what produces Ballmer a second-act excellence tale is actually that he didn't try to reproduce his business lifestyle. Rather, he took an opportunity to obtain the Clippers after previous co-owner Donald Sterling was actually prohibited from operating the group or relating to the NBA. "Possessing a lot of choices can easily lead to decision exhaustion, changing to fail possibilities, and even staying away from deciding completely," Wilderotter and also her co-authors point out, advising ex-CEOs to rather redefine their purpose or even identification. (Ballmer is likewise owner of USAFacts, a detached data provider.) Costs George, the former Medtronic chief executive officer who modify themself as a leadership master after retirement life, has actually mentioned that the previous Chief executive officers who prosper are the ones that discover methods "to develop or support points that will outlive them." Throughout our meeting at the arena, Ballmer resembled this sentiment. "Somebody informed me once, 'No person ever really has a basketball staff. You care for it. You shepherd it, and you take it along,'" he mentions. "Intuit Dome can be a small amount of what I do to shepherd this group throughout. Due to the fact that it is actually owned by the followers at the end of the day, and also our team just look after it." Are you an one-time chief executive officer in a second act?Are you a former chief executive officer who has found reason in your 2nd process? Just how performed you set about discovering your new identity? Send your ideas and also narratives to me at stephaniemehta@mansueto.com. I'll discuss one of the most engaging examples in a potential newsletter.Read and also view extra: second acts Put on the Most Impressive Business Honors and also be realized as an association driving the globe forward via development. Early-rate target date: Friday, August 23.