.Greetings as well as welcome to Modern CEO! I am actually Stephanie Mehta, chief executive officer and primary satisfied policeman of Mansueto Ventures. Weekly this email list discovers broad methods to management drawn from conversations with executives as well as entrepreneurs, as well as coming from the webpages of Inc. and also Rapid Business. If you acquired this newsletter coming from a pal, you can easily subscribe to get it on your own every Monday morning.Being a CEO in today times is actually challenging: Pressures include pleasing investors, managing increasing prices and also dealing with on-going supply-chain issues, as well as creating terrific offices. However, for several executives, being actually an ex-CEO presents its own set of challenges. Some battle to handle the loss of the advantages and also condition that possess the job, while others really feel obliged to follow the well-trodden pathway to exclusive equity or company panels." Yearly, 1000s of executives relinquish lengthy as well as prosperous corporate jobs. However couple of are organized the trip they are about to start," previous Outpost Communications chief executive officer Maggie Wilderotter proclaimed previously this year in a Harvard Service Assessment essay, penned along with profession trainer Rick Johnson and also headhunter Dennis Carey.Life beyond MicrosoftOne previous company chieftain that seems to have actually discovered his footing is actually previous Microsoft chief executive officer Steve Ballmer. Ballmer purchased the Los Angeles Clippers basketball staff for $2 billion in 2014 and just introduced the crew's new home, the Intuit Dome. (Prompt Company calls it "Steve Ballmer's $ 2 billion playing field for Los Angeles Clippers supporters.") The crew and also sector have actually given Ballmer a sense of reason that has, in some ways, shrouded his knowledge at the technology giant. "I've focused on a bunch of items over the course of my occupation at Microsoft, and also I have actually adored them all," Ballmer told me during a job interview this month at Intuit Dome in front of a viewers that included members of the Young Presidents' Association along with construction employees who assisted construct the location and their families. "However ... in the progression of the structure, I possibly possessed a clearer perspective of what I intended to carry out, as well as I possess the best total satisfaction, certainly not just because it prospered, but [given that] it is actually an investment in the neighborhood, also." Intuit Dome has significantly been an interest job for Ballmer, that found to make certain that all enthusiasts have a costs adventure. Every chair is developed with easy access to deals and bathrooms, phone charging capacities, as well as ample lower leg space, irrespective of ticket price.Ballmer's significant expenditures are paying. The Clippers gained 51 activities in the 2023-2024 season, as well as ended up 4th in the NBA Western Event. (The Dallas Mavericks did away with the staff coming from the playoffs.) As well as Ballmer regularly ranks as being one of the leading NBA managers in supporter polls.He is actually an extremely unlikely role model for post-CEO lifestyle. His retirement life from Microsoft in 2014 after 34 years at the provider and also 13 years as CEO was actually mental as well as filled. Though incomes virtually tripled during his period, the assets generally went stale, and also the business missed out on the option to end up being a player in smart phones and internet services. Struggling coming from the provider's board, Ballmer sought to renew the firm prior to essentially determining he was actually not the most ideal individual to relocate Microsoft onward. A reporter who chronicled his retirement coming from Microsoft defined him as "really saddening to leave the provider." CEO, reinventedPart of what helps make Ballmer a second-act success story is that he really did not try to recreate his business lifestyle. Instead, he confiscated a possibility to get the Clippers after previous co-owner Donald Sterling was banned coming from managing the staff or associating with the NBA. "Having excessive options can easily lead to choice fatigue, reverting to fail possibilities, or perhaps steering clear of choosing altogether," Wilderotter as well as her co-authors point out, suggesting ex-CEOs to rather redefine their reason or even identity. (Ballmer is likewise founder of USAFacts, a nonpartisan data company.) Bill George, the former Medtronic chief executive officer that modify themself as a leadership authority after retired life, has said that the past Chief executive officers that prosper are the ones that discover methods "to develop or support things that will definitely outlive all of them." Throughout our meeting at the stadium, Ballmer echoed this sentiment. "A person informed me once, 'No one ever before definitely possesses a basketball crew. You take care of it. You shepherd it, and also you deliver it along,'" he says. "Intuit Dome can be a little of what I carry out to shepherd this crew throughout. Since it is actually had due to the supporters by the end of the time, and also our experts simply take care of it." Are you a single chief executive officer in a 2nd act?Are you a former CEO that possesses found reason in your second act? Exactly how performed you tackle finding your new identity? Deliver your insights and narratives to me at stephaniemehta@mansueto.com. I'll share the absolute most engaging examples in a future newsletter.Read and also see much more: 2nd process Relate to the Most Innovative Firms Awards and also be realized as an organization driving the globe onward by means of technology. Early-rate target date: Friday, August 23.