.Hello there and also welcome to Modern CEO! I'm Stephanie Mehta, chief executive officer and primary content policeman of Mansueto Ventures. Each week this email list discovers inclusive techniques to management drawn from chats with managers as well as business owners, as well as coming from the webpages of Inc. and also Quick Firm. If you obtained this newsletter coming from a friend, you can easily join to get it your own self every Monday morning.Being a chief executive officer in today times is hard: Stress consist of fulfilling investors, handling rising expenses and also solving on-going supply-chain issues, and also producing fantastic workplaces. But also for many executives, being an ex-CEO shows its own set of obstacles. Some problem to handle the reduction of the rewards as well as condition that feature the project, while others really feel obliged to observe the well-trodden path to personal equity or even corporate panels." Every year, countless executives retire from long and also productive business jobs. But few are actually gotten ready for the journey they are about to start," former Outpost Communications chief executive officer Maggie Wilderotter declared earlier this year in a Harvard Organization Testimonial essay, penciled with job coach Rick Smith and talent scout Dennis Carey.Life beyond MicrosoftOne former business chieftain that appears to have actually located his footing is actually past Microsoft CEO Steve Ballmer. Ballmer acquired the Los Angeles Clippers basketball team for $2 billion in 2014 and also just unveiled the crew's new home, the Intuit Dome. (Prompt Firm calls it "Steve Ballmer's $ 2 billion playing field for Los Angeles Clippers followers.") The team as well as arena have actually given Ballmer a sense of purpose that has, somehow, darkened his adventures at the specialist titan. "I've dealt with a great deal of items over the course of my profession at Microsoft, and also I have actually adored them all," Ballmer told me during a meeting this month at Intuit Dome before a target market that featured participants of the Young Presidents' Organization in addition to building and construction workers that helped create the establishment and their family members. "Yet ... in the development of this building, I possibly had a more clear view of what I intended to perform, and I possess the absolute most complete satisfaction, not even if it prospered, but [considering that] it's a financial investment in the area, as well." Intuit Dome has quite been an interest venture for Ballmer, who found to make sure that all supporters possess a premium knowledge. Every seat is actually designed with quick and easy accessibility to deals and washrooms, phone asking for functionalities, and ample lower leg area, no matter ticket price.Ballmer's substantial assets are actually repaying. The Clippers succeeded 51 games in the 2023-2024 time, and finished 4th in the NBA Western Association. (The Dallas Mavericks did away with the group coming from the playoffs.) As well as Ballmer repeatedly ranks being one of the leading NBA proprietors in follower polls.He is actually an extremely unlikely good example for post-CEO life. His retirement life from Microsoft in 2014 after 34 years at the provider as well as thirteen years as chief executive officer was actually emotional and also tangled up. Though earnings virtually tripled during his period, the assets generally went stale, and also the firm overlooked the option to become a player in mobile phones and also world wide web services. Under pressure coming from the provider's panel, Ballmer found to remodel the company just before inevitably making a decision he was not the best person to move Microsoft forward. A press reporter who narrated his parting coming from Microsoft described him as "really unfortunate to leave behind the business." CEO, reinventedPart of what creates Ballmer a second-act success account is that he really did not attempt to reproduce his business life. Somewhat, he took possession of a possibility to get the Clippers after previous co-owner Donald Sterling was actually prohibited coming from managing the crew or even connecting with the NBA. "Having a lot of selections can bring about decision exhaustion, going back to skip options, and even staying away from making a decision entirely," Wilderotter as well as her co-authors state, encouraging ex-CEOs to instead redefine their reason or even identity. (Ballmer is additionally founder of USAFacts, a nonpartisan information firm.) Expense George, the past Medtronic CEO who recast himself as a management guru after retired life, has actually claimed that the former CEOs who flourish are actually the ones that find ways "to create or nurture traits that will outlast all of them." During our job interview at the field, Ballmer echoed this view. "A person informed me when, 'No person ever really has a baseball team. You handle it. You shepherd it, and you deliver it along,'" he says. "Intuit Dome may be a little of what I perform to shepherd this crew along. Since it is actually possessed due to the fans at the end of the day, and also our experts merely look after it." Are you an one-time chief executive officer in a second act?Are you a former CEO who has discovered function in your 2nd action? Just how did you handle locating your brand new identity? Send your insights and anecdotes to me at stephaniemehta@mansueto.com. I'll discuss one of the most powerful instances in a future newsletter.Read as well as view even more: second process Apply to one of the most Innovative Firms Awards as well as be identified as an organization driving the globe ahead through advancement. Early-rate target date: Friday, August 23.