.Hey there and appreciated to Modern CEO! I'm Stephanie Mehta, chief executive officer as well as chief content policeman of Mansueto Ventures. Weekly this e-newsletter checks out comprehensive strategies to management drawn from talks with managers and business people, and also from the pages of Inc. as well as Swift Firm. If you obtained this newsletter from a friend, you can subscribe to obtain it yourself every Monday morning.Being a CEO at presents is challenging: Stress include satisfying investors, dealing with increasing expenses as well as handling recurring supply-chain problems, and also producing excellent work environments. But for a lot of executives, being actually an ex-CEO provides its very own collection of difficulties. Some battle to handle the loss of the rewards and also standing that include the task, while others feel obliged to follow the well-trodden path to exclusive equity or even corporate boards." Every year, 1000s of executives retire from lengthy as well as effective business professions. Yet handful of are actually organized the journey they will embark on," previous Outpost Communications CEO Maggie Wilderotter proclaimed earlier this year in a Harvard Service Testimonial essay, penned with job coach Rick Johnson and headhunter Dennis Carey.Life beyond MicrosoftOne previous business big shot who seems to have located his footing is actually past Microsoft chief executive officer Steve Ballmer. Ballmer bought the Los Angeles Clippers baseball group for $2 billion in 2014 and just introduced the group's brand new home, the Intuit Dome. (Fast Provider calls it "Steve Ballmer's $ 2 billion playground for LA Clippers enthusiasts.") The group and also field have provided Ballmer a sense of purpose that has, somehow, eclipsed his expertises at the specialist titan. "I have actually worked on a bunch of products over the course of my career at Microsoft, and I've loved them all," Ballmer informed me in the course of a meeting this month at Intuit Dome in front of an audience that included participants of the Young Presidents' Institution as well as building and construction employees who aided construct the establishment as well as their family members. "But ... in the development of this property, I probably had a more clear view of what I desired to perform, as well as I possess the absolute most satisfaction, certainly not just because it prospered, but [given that] it is actually an assets in the area, as well." Intuit Dome has actually very much been actually a passion venture for Ballmer, that looked for to make sure that all followers have a fee adventure. Every chair is actually developed with easy accessibility to deals and also bathrooms, phone demanding functionalities, and ample leg space, irrespective of ticket price.Ballmer's considerable financial investments are repaying. The Clippers won 51 games in the 2023-2024 period, as well as finished 4th in the NBA Western Event. (The Dallas Mavericks eliminated the team coming from the playoffs.) And also Ballmer routinely positions as one of the best NBA owners in supporter polls.He is actually a not likely shining example for post-CEO lifestyle. His retired life from Microsoft in 2014 after 34 years at the provider and also 13 years as chief executive officer was mental and filled. Though incomes virtually tripled in the course of his tenure, the share essentially went stale, and also the company skipped the chance to end up being a player in smart phones as well as world wide web companies. Under the gun from the provider's board, Ballmer found to overhaul the firm prior to inevitably choosing he was actually certainly not the greatest person to move Microsoft onward. A media reporter that told his parting coming from Microsoft described him as "really saddening to leave the provider." CHIEF EXECUTIVE OFFICER, reinventedPart of what helps make Ballmer a second-act results tale is actually that he failed to choose to reproduce his business life. Somewhat, he took possession of an option to obtain the Clippers after previous co-owner Donald Sterling was actually outlawed coming from operating the crew or even linking with the NBA. "Having too many options can bring about choice exhaustion, changing to default alternatives, or maybe staying clear of deciding altogether," Wilderotter and also her co-authors state, suggesting ex-CEOs to instead redefine their function or identity. (Ballmer is actually likewise creator of USAFacts, a detached information business.) Bill George, the past Medtronic CEO that modify himself as a management expert after retired life, has stated that the former CEOs that flourish are the ones who locate ways "to create or even nourish traits that will definitely outlast them." Throughout our meeting at the arena, Ballmer echoed this view. "Somebody informed me the moment, 'No one ever actually has a baseball team. You look after it. You shepherd it, as well as you bring it along,'" he mentions. "Intuit Dome can be a small amount of what I carry out to shepherd this team throughout. Due to the fact that it's had by the fans at the end of the day, as well as our team simply look after it." Are you a single chief executive officer in a second act?Are you a past CEO that possesses found purpose in your 2nd act? Exactly how performed you engage in discovering your new identity? Deliver your insights and also anecdotes to me at stephaniemehta@mansueto.com. I'll discuss the absolute most engaging instances in a potential newsletter.Read as well as view a lot more: second acts Relate to the best Ingenious Companies Awards and be actually recognized as an organization steering the globe onward with innovation. Early-rate deadline: Friday, August 23.