.Hello as well as welcome to Modern CEO! I'm Stephanie Mehta, CEO and also chief satisfied officer of Mansueto Ventures. Each week this newsletter checks out comprehensive techniques to management drawn from chats with managers and also business people, as well as from the webpages of Inc. as well as Quick Firm. If you received this bulletin from a friend, you can subscribe to receive it yourself every Monday morning.Being a CEO nowadays is actually hard: Tensions consist of satisfying shareholders, handling increasing prices and also dealing with continuous supply-chain problems, and also making terrific work environments. But for several managers, being an ex-CEO offers its personal collection of problems. Some problem to manage the reduction of the rewards as well as status that include the task, while others experience obliged to observe the well-trodden road to private equity or company boards." Each year, countless execs retire from long and prosperous corporate professions. Yet couple of are actually prepared for the experience they will embark on," past Frontier Communications CEO Maggie Wilderotter announced earlier this year in a Harvard Company Review essay, penned with job coach Rick Smith and also talent scout Dennis Carey.Life past MicrosoftOne previous business chieftain that seems to have actually found his footing is previous Microsoft chief executive officer Steve Ballmer. Ballmer bought the Los Angeles Clippers basketball team for $2 billion in 2014 and only introduced the team's brand-new home, the Intuit Dome. (Swift Firm calls it "Steve Ballmer's $ 2 billion playground for Los Angeles Clippers supporters.") The staff and also sector have given Ballmer a feeling of objective that has, in some ways, darkened his adventures at the tech titan. "I've serviced a considerable amount of products throughout my occupation at Microsoft, and I've adored all of them all," Ballmer informed me during the course of a meeting this month at Intuit Dome in front of a viewers that included participants of the Young Presidents' Organization along with construction laborers who aided create the amenities as well as their family members. "But ... in the growth of this particular property, I possibly had a clearer perspective of what I wished to do, as well as I have one of the most satisfaction, certainly not just because it thrived, yet [due to the fact that] it's an expenditure in the area, as well." Intuit Dome has significantly been a passion project for Ballmer, who found to ensure that all supporters possess a premium adventure. Every chair is actually created along with simple access to deals as well as bathrooms, phone charging abilities, and also plenty of lower leg area, irrespective of ticket price.Ballmer's substantial investments are actually repaying. The Clippers won 51 activities in the 2023-2024 time, and also ended up fourth in the NBA Western Conference. (The Dallas Mavericks eliminated the group coming from the playoffs.) And also Ballmer routinely positions as being one of the top NBA managers in enthusiast polls.He is actually an improbable good example for post-CEO lifestyle. His retirement from Microsoft in 2014 after 34 years at the provider and also 13 years as CEO was actually emotional and also filled. Though revenues almost tripled throughout his period, the stock practically stagnated, and also the business missed the chance to come to be a player in mobile devices and world wide web companies. Under pressure coming from the firm's panel, Ballmer found to overhaul the firm prior to eventually determining he was actually not the best individual to relocate Microsoft forward. A reporter who narrated his departure coming from Microsoft illustrated him as "very unfortunate to leave behind the company." CHIEF EXECUTIVE OFFICER, reinventedPart of what makes Ballmer a second-act results account is that he failed to try to recreate his business life. Somewhat, he took an opportunity to acquire the Clippers after previous co-owner Donald Sterling was actually disallowed from operating the group or associating with the NBA. "Having a lot of choices can easily bring about choice tiredness, returning to default options, or maybe staying away from making a decision completely," Wilderotter and her co-authors claim, recommending ex-CEOs to instead redefine their reason or identification. (Ballmer is also founder of USAFacts, a detached records provider.) Bill George, the past Medtronic CEO who modify himself as a management master after retirement, has mentioned that the previous Chief executive officers who thrive are actually the ones that locate methods "to make or even nurture things that are going to outlast them." In the course of our interview at the field, Ballmer echoed this conviction. "Someone informed me when, 'Nobody ever before actually possesses a baseball team. You take care of it. You shepherd it, and you deliver it along,'" he points out. "Intuit Dome can be a little of what I perform to shepherd this staff along. Given that it's owned by the enthusiasts in the end of the time, as well as we only look after it." Are you an one-time chief executive officer in a 2nd act?Are you a former CEO that has found reason in your second act? Just how performed you go about finding your brand-new identity? Deliver your understandings and narratives to me at stephaniemehta@mansueto.com. I'll discuss one of the most engaging instances in a future newsletter.Read and see a lot more: second process Apply to the absolute most Innovative Business Awards and be acknowledged as an organization driving the world ahead via development. Early-rate target date: Friday, August 23.