.Hi and also invited to Modern CEO! I am actually Stephanie Mehta, chief executive officer as well as primary satisfied policeman of Mansueto Ventures. Every week this newsletter checks out comprehensive strategies to leadership reasoned discussions with managers and also business people, and from the webpages of Inc. and Prompt Company. If you obtained this newsletter from a buddy, you can easily sign up to get it yourself every Monday morning.Being a chief executive officer at presents is difficult: Pressures feature satisfying investors, taking care of rising costs as well as resolving on-going supply-chain concerns, and also developing terrific place of work. But for numerous executives, being an ex-CEO presents its personal set of obstacles. Some battle to manage the reduction of the benefits and standing that include the task, while others really feel obliged to observe the well-trodden course to private equity or business boards." Every year, lots of executives relinquish long and effective business jobs. Yet handful of are actually gotten ready for the trip they will embark on," previous Outpost Communications chief executive officer Maggie Wilderotter stated earlier this year in a Harvard Company Assessment essay, penned along with profession train Rick Smith and talent scout Dennis Carey.Life past MicrosoftOne past business big shot that seems to have found his ground is former Microsoft CEO Steve Ballmer. Ballmer bought the Los Angeles Clippers baseball crew for $2 billion in 2014 and merely unveiled the group's brand-new home, the Intuit Dome. (Rapid Provider calls it "Steve Ballmer's $ 2 billion play ground for Los Angeles Clippers enthusiasts.") The staff and also field have actually offered Ballmer a feeling of reason that has, somehow, eclipsed his knowledge at the tech titan. "I've dealt with a ton of items throughout my career at Microsoft, and I've loved them all," Ballmer told me during a meeting this month at Intuit Dome before a reader that consisted of participants of the Young Presidents' Organization in addition to building laborers that helped develop the amenities and also their families. "Yet ... in the development of this particular property, I perhaps had a more clear scenery of what I wished to perform, and also I possess one of the most fulfillment, not just because it turned out well, but [because] it's an expenditure in the community, also." Intuit Dome has actually quite been a passion project for Ballmer, who sought to guarantee that all supporters have a fee experience. Every chair is actually designed along with quick and easy accessibility to deals and also bathrooms, phone charging functionalities, and also enough leg space, irrespective of ticket price.Ballmer's sizable financial investments are paying off. The Clippers won 51 games in the 2023-2024 time, and completed 4th in the NBA Western Conference. (The Dallas Mavericks got rid of the crew coming from the playoffs.) And also Ballmer consistently places as one of the top NBA owners in supporter polls.He is an unlikely role model for post-CEO lifestyle. His retirement from Microsoft in 2014 after 34 years at the company and 13 years as CEO was actually emotional and fraught. Though profits almost tripled throughout his period, the share practically stood still, and the firm missed the opportunity to come to be a player in cell phones and internet services. Struggling from the provider's panel, Ballmer sought to remodel the company just before inevitably choosing he was actually certainly not the best person to relocate Microsoft ahead. A press reporter who recorded his retirement from Microsoft defined him as "extremely saddening to leave the company." CHIEF EXECUTIVE OFFICER, reinventedPart of what makes Ballmer a second-act success account is actually that he failed to choose to recreate his business lifestyle. Somewhat, he seized an option to obtain the Clippers after previous co-owner Donald Sterling was prohibited coming from managing the crew or even connecting with the NBA. "Possessing too many selections can easily result in decision fatigue, returning to fail choices, or maybe steering clear of choosing completely," Wilderotter as well as her co-authors claim, encouraging ex-CEOs to instead redefine their function or even identification. (Ballmer is actually likewise creator of USAFacts, a detached information provider.) Expense George, the previous Medtronic chief executive officer who modify himself as a leadership authority after retirement life, has actually said that the previous CEOs who thrive are actually the ones who locate ways "to generate or nurture factors that are going to outlast them." In the course of our meeting at the stadium, Ballmer resembled this sentiment. "Somebody informed me the moment, 'No one ever before actually owns a baseball group. You take care of it. You shepherd it, as well as you deliver it along,'" he states. "Intuit Dome can be a little of what I carry out to shepherd this group along. Considering that it is actually had due to the followers by the end of the time, as well as our company simply deal with it." Are you an one-time chief executive officer in a 2nd act?Are you a past chief executive officer that possesses found function in your 2nd action? Just how performed you set about discovering your brand-new identity? Send your understandings as well as stories to me at stephaniemehta@mansueto.com. I'll discuss the absolute most convincing examples in a future newsletter.Read and watch much more: second acts Put on one of the most Innovative Providers Awards as well as be acknowledged as an organization steering the globe onward with technology. Early-rate target date: Friday, August 23.