.Hello there as well as welcome to Modern CEO! I'm Stephanie Mehta, chief executive officer as well as main material policeman of Mansueto Ventures. Each week this newsletter checks out comprehensive strategies to leadership drawn from talks along with execs and also business people, and also coming from the webpages of Inc. and Quick Company. If you got this email list coming from a good friend, you can easily subscribe to receive it yourself every Monday morning.Being a CEO in today times is actually challenging: Pressures include delighting shareholders, managing climbing expenses and addressing ongoing supply-chain issues, and also generating great place of work. However, for lots of execs, being an ex-CEO presents its own collection of difficulties. Some battle to handle the loss of the benefits as well as status that include the project, while others really feel required to comply with the well-trodden path to personal equity or even corporate boards." Yearly, countless managers retire from lengthy and effective business careers. But few are planned for the experience they are about to start," past Outpost Communications CEO Maggie Wilderotter stated earlier this year in a Harvard Business Assessment essay, penciled along with career trainer Rick Johnson and talent scout Dennis Carey.Life beyond MicrosoftOne past corporate tribal chief who appears to have discovered his footing is actually past Microsoft chief executive officer Steve Ballmer. Ballmer acquired the Los Angeles Clippers baseball crew for $2 billion in 2014 and also just revealed the team's brand-new home, the Intuit Dome. (Prompt Firm calls it "Steve Ballmer's $ 2 billion recreation space for LA Clippers supporters.") The staff and sector have offered Ballmer a sense of function that possesses, in some ways, shrouded his experiences at the specialist giant. "I've serviced a great deal of products over the course of my career at Microsoft, and I've adored all of them all," Ballmer informed me during the course of a job interview this month at Intuit Dome facing a target market that consisted of participants of the Young Presidents' Company along with development employees who aided build the facility and their households. "However ... in the growth of the structure, I possibly had a more clear sight of what I desired to perform, and I possess the best total satisfaction, not just because it thrived, yet [considering that] it's an assets in the neighborhood, too." Intuit Dome has actually quite been actually an enthusiasm task for Ballmer, who sought to make certain that all enthusiasts have a fee knowledge. Every seat is actually made along with easy accessibility to deals and washrooms, phone demanding abilities, as well as substantial lower leg space, irrespective of ticket price.Ballmer's sizable investments are actually settling. The Clippers succeeded 51 activities in the 2023-2024 time, and also completed 4th in the NBA Western Event. (The Dallas Mavericks did away with the staff from the playoffs.) And Ballmer often ranks as being one of the best NBA proprietors in supporter polls.He is actually a not likely good example for post-CEO lifestyle. His retirement life from Microsoft in 2014 after 34 years at the firm and also 13 years as CEO was actually psychological and also stuffed. Though revenues almost tripled during the course of his period, the assets basically stood still, and the business skipped the option to become a player in mobile devices and internet solutions. Under the gun coming from the provider's board, Ballmer looked for to renew the firm prior to inevitably determining he was actually not the greatest individual to relocate Microsoft ahead. A press reporter who chronicled his parting from Microsoft defined him as "incredibly depressing to leave the firm." CHIEF EXECUTIVE OFFICER, reinventedPart of what creates Ballmer a second-act excellence tale is that he didn't choose to reproduce his company lifestyle. Somewhat, he took a chance to obtain the Clippers after previous co-owner Donald Sterling was disallowed coming from running the crew or even associating with the NBA. "Having excessive options can easily cause selection fatigue, reverting to skip choices, or even staying clear of choosing entirely," Wilderotter and also her co-authors point out, urging ex-CEOs to rather redefine their purpose or identification. (Ballmer is actually additionally founder of USAFacts, a detached records company.) Expense George, the past Medtronic CEO who recast himself as a leadership guru after retirement, has actually mentioned that the previous CEOs who thrive are actually the ones who discover methods "to develop or even nurture factors that are going to outlive them." Throughout our job interview at the arena, Ballmer reflected this sentiment. "Someone told me when, 'No one ever before definitely has a basketball team. You take care of it. You shepherd it, and you carry it along,'" he points out. "Intuit Dome may be a little of what I carry out to shepherd this group along. Considering that it's had by the fans at the end of the day, and our team merely deal with it." Are you a single CEO in a 2nd act?Are you a former CEO who possesses found objective in your second process? Exactly how performed you go about finding your new identity? Send your knowledge as well as anecdotes to me at stephaniemehta@mansueto.com. I'll discuss the most engaging examples in a future newsletter.Read and also watch more: second actions Apply to the absolute most Cutting-edge Business Honors as well as be actually acknowledged as a company steering the world ahead through advancement. Early-rate due date: Friday, August 23.