.Hello there as well as appreciated to Modern CEO! I'm Stephanie Mehta, CEO and also primary material policeman of Mansueto Ventures. Each week this newsletter explores broad techniques to management drawn from conversations with execs and also business people, as well as coming from the web pages of Inc. and Swift Provider. If you acquired this email list from a close friend, you can register to acquire it yourself every Monday morning.Being a chief executive officer in these times is hard: Stress feature satisfying investors, taking care of climbing costs and also resolving ongoing supply-chain issues, and producing wonderful offices. However, for a lot of managers, being actually an ex-CEO shows its very own collection of difficulties. Some battle to cope with the loss of the advantages as well as standing that come with the project, while others really feel obliged to follow the well-trodden road to exclusive equity or business panels." Every year, hundreds of execs retire from lengthy as well as productive corporate jobs. However handful of are planned for the adventure they are about to start," previous Frontier Communications CEO Maggie Wilderotter declared earlier this year in a Harvard Business Testimonial essay, penciled along with job coach Rick Smith and headhunter Dennis Carey.Life beyond MicrosoftOne past corporate tribal chief who seems to have actually found his ground is actually former Microsoft chief executive officer Steve Ballmer. Ballmer purchased the Los Angeles Clippers baseball crew for $2 billion in 2014 and also only revealed the crew's brand-new home, the Intuit Dome. (Swift Firm calls it "Steve Ballmer's $ 2 billion playing field for LA Clippers followers.") The crew and also field have provided Ballmer a feeling of purpose that possesses, somehow, shrouded his knowledge at the technician titan. "I've worked on a bunch of products over the course of my profession at Microsoft, as well as I've liked all of them all," Ballmer informed me in the course of a job interview this month at Intuit Dome before an audience that consisted of members of the Young Presidents' Institution and also construction laborers that aided construct the location as well as their loved ones. "However ... in the growth of this particular property, I perhaps had a more clear scenery of what I intended to perform, and I have the most fulfillment, not even if it prospered, but [since] it's an expenditure in the community, too." Intuit Dome has quite been a passion job for Ballmer, that sought to ensure that all enthusiasts have a fee knowledge. Every seat is developed along with very easy access to concessions as well as restrooms, phone asking for abilities, as well as adequate leg area, regardless of ticket price.Ballmer's considerable financial investments are repaying. The Clippers won 51 games in the 2023-2024 time, and also finished 4th in the NBA Western Association. (The Dallas Mavericks removed the team coming from the playoffs.) And Ballmer regularly places being one of the best NBA proprietors in enthusiast polls.He is an unexpected shining example for post-CEO life. His retirement coming from Microsoft in 2014 after 34 years at the business and also thirteen years as CEO was actually psychological and also stuffed. Though profits nearly tripled in the course of his tenure, the stock generally stagnated, and the firm missed out on the chance to become a player in mobile phones and also world wide web solutions. Under pressure from the company's panel, Ballmer looked for to revamp the company prior to eventually deciding he was actually not the greatest person to relocate Microsoft onward. A reporter that chronicled his separation coming from Microsoft defined him as "extremely unfortunate to leave the provider." CHIEF EXECUTIVE OFFICER, reinventedPart of what produces Ballmer a second-act effectiveness story is actually that he failed to attempt to recreate his business life. Instead, he took possession of a chance to obtain the Clippers after previous co-owner Donald Sterling was outlawed from operating the team or even connecting with the NBA. "Possessing a lot of choices may result in choice tiredness, returning to default alternatives, and even avoiding deciding completely," Wilderotter and her co-authors claim, urging ex-CEOs to instead redefine their objective or even identity. (Ballmer is also founder of USAFacts, a detached records company.) Costs George, the past Medtronic chief executive officer that modify himself as a leadership master after retirement life, has pointed out that the former CEOs that prosper are the ones who locate methods "to make or nurture traits that will outlive them." During the course of our job interview at the field, Ballmer reflected this conviction. "A person told me the moment, 'No one ever really has a basketball staff. You handle it. You shepherd it, and also you take it along,'" he says. "Intuit Dome may be a small amount of what I do to shepherd this group along. Given that it is actually possessed by the enthusiasts by the end of the day, and also our team simply look after it." Are you an one-time CEO in a second act?Are you a past CEO that possesses found purpose in your 2nd process? Exactly how performed you set about locating your new identification? Deliver your insights and also anecdotes to me at stephaniemehta@mansueto.com. I'll share one of the most compelling examples in a potential newsletter.Read and check out more: 2nd actions Put on the best Cutting-edge Companies Awards as well as be actually identified as an institution steering the planet forward through technology. Early-rate target date: Friday, August 23.