.Hello as well as welcome to Modern CEO! I'm Stephanie Mehta, chief executive officer and chief content police officer of Mansueto Ventures. Each week this newsletter checks out comprehensive approaches to management reasoned chats along with executives as well as business people, as well as coming from the webpages of Inc. and also Fast Business. If you got this bulletin from a pal, you may enroll to receive it yourself every Monday morning.Being a CEO nowadays is actually tough: Stress consist of satisfying investors, handling increasing costs and solving ongoing supply-chain issues, and also making wonderful offices. But also for several executives, being actually an ex-CEO presents its own set of difficulties. Some problem to deal with the loss of the rewards and condition that feature the work, while others feel obliged to observe the well-trodden path to exclusive equity or even business boards." Each year, countless execs relinquish long as well as prosperous business occupations. Yet couple of are planned for the journey they are about to plunge into," past Outpost Communications chief executive officer Maggie Wilderotter declared previously this year in a Harvard Company Assessment essay, penned with career instructor Rick Smith as well as headhunter Dennis Carey.Life past MicrosoftOne former company big shot that appears to have found his footing is previous Microsoft chief executive officer Steve Ballmer. Ballmer acquired the Los Angeles Clippers basketball staff for $2 billion in 2014 and merely introduced the staff's brand-new home, the Intuit Dome. (Fast Firm calls it "Steve Ballmer's $ 2 billion play area for LA Clippers followers.") The group as well as sector have actually provided Ballmer a feeling of function that possesses, somehow, eclipsed his experiences at the tech titan. "I've serviced a great deal of products throughout my occupation at Microsoft, as well as I have actually liked them all," Ballmer informed me in the course of an interview this month at Intuit Dome facing an audience that featured members of the Youthful Presidents' Company in addition to development workers that assisted develop the facility and their family members. "However ... in the growth of this particular building, I possibly possessed a clearer viewpoint of what I wanted to do, and also I possess one of the most complete satisfaction, certainly not even if it turned out well, however [because] it is actually an expenditure in the area, as well." Intuit Dome has quite been an enthusiasm venture for Ballmer, who looked for to make certain that all fans have a costs adventure. Every seat is actually designed along with simple access to concessions as well as shower rooms, phone demanding capacities, and also sufficient leg area, regardless of ticket price.Ballmer's substantial expenditures are repaying. The Clippers succeeded 51 activities in the 2023-2024 time, as well as finished 4th in the NBA Western Conference. (The Dallas Mavericks eliminated the team from the playoffs.) And Ballmer routinely rates as one of the best NBA managers in supporter polls.He is actually a not likely role model for post-CEO life. His retirement coming from Microsoft in 2014 after 34 years at the firm as well as 13 years as chief executive officer was emotional and tangled up. Though profits almost tripled in the course of his period, the share basically stagnated, as well as the business skipped the possibility to come to be a player in cell phones and world wide web companies. Struggling coming from the company's panel, Ballmer sought to renew the provider prior to essentially deciding he was actually not the most ideal individual to relocate Microsoft ahead. A reporter that narrated his parting from Microsoft described him as "extremely sad to leave behind the provider." CEO, reinventedPart of what creates Ballmer a second-act results tale is that he failed to try to reproduce his corporate life. Rather, he took possession of a possibility to obtain the Clippers after previous co-owner Donald Sterling was banned from managing the group or even connecting with the NBA. "Possessing way too many choices can easily bring about choice exhaustion, going back to skip options, or perhaps staying away from making a decision completely," Wilderotter and her co-authors state, advising ex-CEOs to rather redefine their objective or even identity. (Ballmer is likewise founder of USAFacts, a detached data business.) Bill George, the previous Medtronic chief executive officer who modify themself as a leadership master after retired life, has claimed that the previous CEOs who thrive are the ones that find ways "to produce or nourish factors that are going to outlast them." Throughout our job interview at the arena, Ballmer echoed this view. "Someone told me the moment, 'Nobody ever before actually possesses a baseball group. You care for it. You shepherd it, and you carry it along,'" he claims. "Intuit Dome can be a little of what I do to shepherd this group throughout. Due to the fact that it's possessed due to the followers in the end of the day, and also our team simply handle it." Are you an one-time CEO in a second act?Are you a former chief executive officer that possesses located reason in your second action? Just how did you tackle finding your brand new identity? Deliver your understandings and anecdotes to me at stephaniemehta@mansueto.com. I'll discuss one of the most convincing examples in a future newsletter.Read as well as see extra: 2nd actions Relate to the Most Cutting-edge Companies Awards and also be actually acknowledged as a company steering the world ahead through advancement. Early-rate deadline: Friday, August 23.