.Greetings and also appreciated to Modern CEO! I'm Stephanie Mehta, CEO and primary satisfied police officer of Mansueto Ventures. Weekly this email list checks out inclusive strategies to leadership reasoned chats with execs and entrepreneurs, and also from the web pages of Inc. and also Prompt Provider. If you got this bulletin from a buddy, you can subscribe to acquire it your own self every Monday morning.Being a chief executive officer these days is tough: Tensions consist of pleasing investors, handling rising expenses and also dealing with on-going supply-chain concerns, as well as producing great work environments. But for a lot of managers, being an ex-CEO provides its own collection of problems. Some battle to deal with the loss of the perks and also status that feature the task, while others feel obliged to comply with the well-trodden path to personal equity or even company panels." Yearly, lots of managers relinquish long and also productive business occupations. However few are actually planned for the quest they are about to plunge into," past Frontier Communications chief executive officer Maggie Wilderotter declared previously this year in a Harvard Organization Evaluation essay, penned along with profession trainer Rick Johnson and also talent scout Dennis Carey.Life past MicrosoftOne previous company tribal chief who seems to have located his footing is previous Microsoft CEO Steve Ballmer. Ballmer purchased the Los Angeles Clippers baseball crew for $2 billion in 2014 as well as simply unveiled the staff's new home, the Intuit Dome. (Quick Provider calls it "Steve Ballmer's $ 2 billion recreation space for LA Clippers supporters.") The crew and arena have actually provided Ballmer a sense of objective that possesses, somehow, darkened his expertises at the technician titan. "I've focused on a bunch of items throughout my job at Microsoft, as well as I've loved them all," Ballmer told me throughout a job interview this month at Intuit Dome facing a viewers that consisted of members of the Youthful Presidents' Company in addition to development workers that aided build the establishment and also their households. "However ... in the advancement of the building, I possibly possessed a more clear perspective of what I wished to perform, and also I possess one of the most complete satisfaction, not even if it thrived, yet [due to the fact that] it's an assets in the area, as well." Intuit Dome has actually significantly been actually an enthusiasm venture for Ballmer, that sought to guarantee that all enthusiasts possess a superior expertise. Every chair is created with quick and easy accessibility to deals and also restrooms, phone demanding abilities, and also sufficient leg space, irrespective of ticket price.Ballmer's sizable assets are settling. The Clippers gained 51 activities in the 2023-2024 time, and completed 4th in the NBA Western Event. (The Dallas Mavericks got rid of the crew coming from the playoffs.) And also Ballmer consistently places being one of the leading NBA proprietors in supporter polls.He is a not likely good example for post-CEO lifestyle. His retirement life coming from Microsoft in 2014 after 34 years at the provider and thirteen years as chief executive officer was emotional and filled. Though incomes almost tripled during his period, the equity generally went stale, and also the provider skipped the opportunity to end up being a player in mobile phones and also internet solutions. Under the gun coming from the provider's board, Ballmer sought to spruce up the firm before essentially determining he was actually not the most effective person to relocate Microsoft ahead. A reporter that recorded his parting coming from Microsoft illustrated him as "really sad to leave the company." CEO, reinventedPart of what makes Ballmer a second-act success account is that he didn't attempt to recreate his business life. Somewhat, he confiscated a chance to get the Clippers after previous co-owner Donald Sterling was prohibited from managing the group or associating with the NBA. "Having too many selections may cause selection exhaustion, returning to default options, or perhaps staying away from deciding completely," Wilderotter and her co-authors point out, encouraging ex-CEOs to rather redefine their function or even identification. (Ballmer is additionally founder of USAFacts, a nonpartisan data firm.) Expense George, the past Medtronic CEO who recast themself as a management guru after retirement life, has actually pointed out that the previous Chief executive officers who flourish are the ones that find means "to develop or even nourish things that will definitely outlast all of them." Throughout our job interview at the field, Ballmer echoed this view. "Somebody told me the moment, 'Nobody ever definitely has a baseball staff. You care for it. You shepherd it, as well as you bring it along,'" he mentions. "Intuit Dome could be a little of what I do to shepherd this crew along. Given that it is actually possessed by the followers in the end of the day, as well as our team just look after it." Are you an one-time chief executive officer in a second act?Are you a previous CEO who possesses located reason in your 2nd act? Just how performed you deal with discovering your brand new identification? Send your knowledge and narratives to me at stephaniemehta@mansueto.com. I'll share one of the most compelling examples in a future newsletter.Read as well as see even more: 2nd actions Apply to the Most Ingenious Business Honors and also be recognized as an association steering the planet onward by means of advancement. Early-rate due date: Friday, August 23.