.Hi there as well as invited to Modern CEO! I am actually Stephanie Mehta, chief executive officer and also primary content officer of Mansueto Ventures. Weekly this newsletter checks out inclusive strategies to management reasoned talks along with execs as well as entrepreneurs, and coming from the webpages of Inc. as well as Fast Provider. If you obtained this newsletter from a friend, you can join to obtain it your own self every Monday morning.Being a chief executive officer these days is challenging: Stress consist of pleasing shareholders, taking care of rising prices as well as handling continuous supply-chain issues, and generating terrific work environments. However, for a lot of executives, being an ex-CEO shows its very own collection of obstacles. Some problem to deal with the reduction of the advantages as well as condition that feature the work, while others feel obliged to adhere to the well-trodden pathway to exclusive equity or corporate panels." Every year, countless executives relinquish lengthy as well as productive company occupations. Yet couple of are actually prepared for the adventure they will embark on," previous Outpost Communications CEO Maggie Wilderotter stated previously this year in a Harvard Company Evaluation essay, penciled with occupation train Rick Johnson and also headhunter Dennis Carey.Life beyond MicrosoftOne past business chieftain who seems to have actually located his footing is previous Microsoft chief executive officer Steve Ballmer. Ballmer got the Los Angeles Clippers basketball staff for $2 billion in 2014 and also just unveiled the group's brand-new home, the Intuit Dome. (Fast Company calls it "Steve Ballmer's $ 2 billion playground for LA Clippers enthusiasts.") The crew and also arena have given Ballmer a sense of reason that possesses, somehow, overshadowed his expertises at the specialist titan. "I've serviced a considerable amount of products throughout my occupation at Microsoft, as well as I have actually liked all of them all," Ballmer informed me during an interview this month at Intuit Dome in front of a reader that included participants of the Youthful Presidents' Company and also development workers who assisted build the location as well as their families. "However ... in the advancement of this particular building, I possibly had a more clear perspective of what I wanted to perform, and also I have the absolute most contentment, not even if it turned out well, but [considering that] it is actually an assets in the community, also." Intuit Dome has quite been actually an interest job for Ballmer, who sought to ensure that all supporters possess a premium experience. Every chair is actually developed with effortless accessibility to concessions and also bathrooms, phone demanding capabilities, and substantial lower leg area, regardless of ticket price.Ballmer's substantial expenditures are paying off. The Clippers won 51 games in the 2023-2024 season, and completed fourth in the NBA Western Conference. (The Dallas Mavericks got rid of the crew from the playoffs.) And Ballmer often ranks being one of the leading NBA managers in follower polls.He is actually an unexpected good example for post-CEO life. His retirement from Microsoft in 2014 after 34 years at the firm and 13 years as chief executive officer was actually mental and also fraught. Though revenues almost tripled in the course of his tenure, the stock basically stood still, as well as the business skipped the possibility to come to be a gamer in mobile devices and also net companies. Under pressure coming from the company's panel, Ballmer found to overhaul the firm just before inevitably choosing he was actually certainly not the best person to move Microsoft ahead. A press reporter who chronicled his separation coming from Microsoft described him as "extremely unfortunate to leave behind the company." CHIEF EXECUTIVE OFFICER, reinventedPart of what creates Ballmer a second-act results story is that he failed to attempt to recreate his corporate lifestyle. Rather, he seized a chance to get the Clippers after previous co-owner Donald Sterling was actually prohibited from managing the crew or associating with the NBA. "Possessing too many selections may bring about choice fatigue, changing to fail possibilities, or perhaps staying away from deciding altogether," Wilderotter and also her co-authors mention, advising ex-CEOs to instead redefine their function or identity. (Ballmer is actually additionally founder of USAFacts, a nonpartisan information company.) Bill George, the former Medtronic chief executive officer who recast themself as a management authority after retirement life, has actually said that the former CEOs who thrive are the ones that discover ways "to make or support points that will definitely outlive them." In the course of our meeting at the field, Ballmer echoed this view. "Someone informed me once, 'No one ever before definitely has a basketball crew. You look after it. You shepherd it, and you take it along,'" he claims. "Intuit Dome may be a little of what I carry out to shepherd this crew throughout. Due to the fact that it is actually had due to the enthusiasts by the end of the time, as well as our company merely deal with it." Are you a single CEO in a 2nd act?Are you a previous CEO who possesses located function in your second act? How performed you go about finding your brand new identity? Send your ideas as well as stories to me at stephaniemehta@mansueto.com. I'll share the most convincing instances in a potential newsletter.Read and see more: 2nd actions Relate to the absolute most Ingenious Providers Honors and also be actually recognized as an organization driving the planet forward through development. Early-rate due date: Friday, August 23.