.Greetings and appreciated to Modern CEO! I am actually Stephanie Mehta, CEO and chief content policeman of Mansueto Ventures. Every week this email list discovers comprehensive methods to leadership reasoned chats with executives and also business owners, and also coming from the webpages of Inc. as well as Fast Firm. If you acquired this email list coming from a buddy, you may join to obtain it yourself every Monday morning.Being a chief executive officer in these times is actually difficult: Pressures include delighting investors, handling climbing costs as well as dealing with recurring supply-chain problems, and creating fantastic offices. But for many managers, being an ex-CEO shows its personal set of challenges. Some struggle to manage the reduction of the benefits as well as standing that possess the job, while others experience required to adhere to the well-trodden road to personal equity or company boards." Annually, lots of executives relinquish lengthy and also successful company professions. Yet few are actually organized the journey they are about to start," previous Outpost Communications CEO Maggie Wilderotter proclaimed earlier this year in a Harvard Business Evaluation essay, penned along with profession instructor Rick Smith and headhunter Dennis Carey.Life past MicrosoftOne previous company big shot who seems to be to have discovered his ground is previous Microsoft chief executive officer Steve Ballmer. Ballmer acquired the Los Angeles Clippers basketball staff for $2 billion in 2014 and also just revealed the team's brand new home, the Intuit Dome. (Swift Business calls it "Steve Ballmer's $ 2 billion recreation space for LA Clippers supporters.") The group and sector have actually provided Ballmer a feeling of reason that has, somehow, shrouded his expertises at the technician giant. "I've dealt with a lot of items throughout my occupation at Microsoft, and also I have actually adored all of them all," Ballmer told me in the course of a job interview this month at Intuit Dome facing a viewers that included members of the Young Presidents' Company along with building and construction laborers who helped construct the center and also their families. "Yet ... in the progression of this particular building, I perhaps possessed a more clear perspective of what I intended to perform, as well as I possess the best total satisfaction, not just because it turned out well, yet [because] it is actually an expenditure in the community, also." Intuit Dome has significantly been actually an enthusiasm project for Ballmer, that found to make certain that all fans possess a costs expertise. Every chair is actually designed with easy accessibility to concessions and shower rooms, phone charging capabilities, as well as adequate leg space, no matter ticket price.Ballmer's substantial expenditures are actually paying off. The Clippers gained 51 activities in the 2023-2024 period, and finished fourth in the NBA Western Association. (The Dallas Mavericks eliminated the staff from the playoffs.) And Ballmer routinely ranks as one of the top NBA owners in enthusiast polls.He is an unexpected role model for post-CEO lifestyle. His retired life from Microsoft in 2014 after 34 years at the company and thirteen years as chief executive officer was actually emotional and also fraught. Though incomes almost tripled during his period, the assets essentially went stale, and the provider overlooked the possibility to end up being a gamer in smart phones and also web services. Under pressure from the business's board, Ballmer found to spruce up the company just before eventually choosing he was actually not the best individual to relocate Microsoft ahead. A media reporter that narrated his retirement from Microsoft illustrated him as "quite saddening to leave behind the firm." CHIEF EXECUTIVE OFFICER, reinventedPart of what produces Ballmer a second-act effectiveness account is actually that he didn't try to recreate his corporate lifestyle. Rather, he took possession of an option to get the Clippers after previous co-owner Donald Sterling was actually outlawed from operating the crew or even connecting with the NBA. "Having way too many selections may cause decision tiredness, returning to fail possibilities, and even avoiding choosing altogether," Wilderotter and her co-authors mention, advising ex-CEOs to instead redefine their purpose or even identity. (Ballmer is likewise founder of USAFacts, a detached records business.) Expense George, the previous Medtronic CEO who modify themself as a management expert after retirement life, has actually said that the former Chief executive officers who prosper are the ones that discover methods "to make or nurture factors that are going to outlast them." During the course of our job interview at the stadium, Ballmer reflected this belief. "Someone told me as soon as, 'No one ever before really possesses a basketball team. You care for it. You shepherd it, as well as you bring it along,'" he mentions. "Intuit Dome may be a little of what I do to shepherd this team throughout. Considering that it is actually had by the enthusiasts in the end of the day, as well as we merely look after it." Are you an one-time chief executive officer in a 2nd act?Are you a past CEO who has located function in your second action? Just how did you go about discovering your new identification? Send your knowledge and stories to me at stephaniemehta@mansueto.com. I'll discuss the best convincing instances in a potential newsletter.Read and view much more: second acts Relate to the best Cutting-edge Business Honors and also be actually acknowledged as an organization steering the planet forward through technology. Early-rate due date: Friday, August 23.