.Hello as well as invited to Modern CEO! I am actually Stephanie Mehta, CEO as well as main content police officer of Mansueto Ventures. Every week this bulletin checks out inclusive strategies to management drawn from talks with executives as well as entrepreneurs, as well as coming from the web pages of Inc. as well as Prompt Business. If you received this bulletin from a pal, you can easily subscribe to obtain it on your own every Monday morning.Being a CEO nowadays is challenging: Pressures include pleasing shareholders, managing increasing prices and handling ongoing supply-chain problems, as well as developing wonderful workplaces. However, for a lot of execs, being an ex-CEO shows its personal collection of obstacles. Some struggle to handle the reduction of the benefits and also condition that come with the job, while others really feel obliged to comply with the well-trodden road to private equity or even business boards." Yearly, hundreds of execs retire from lengthy and successful business careers. Yet couple of are gotten ready for the experience they will start," former Frontier Communications chief executive officer Maggie Wilderotter proclaimed earlier this year in a Harvard Organization Customer review essay, penned along with occupation instructor Rick Johnson and also headhunter Dennis Carey.Life past MicrosoftOne past corporate chieftain who seems to have found his ground is actually former Microsoft chief executive officer Steve Ballmer. Ballmer acquired the Los Angeles Clippers baseball crew for $2 billion in 2014 as well as simply revealed the group's brand-new home, the Intuit Dome. (Fast Business calls it "Steve Ballmer's $ 2 billion play ground for Los Angeles Clippers supporters.") The group as well as field have offered Ballmer a sense of purpose that has, somehow, darkened his expertises at the tech giant. "I've worked with a considerable amount of items over the course of my job at Microsoft, and I've adored them all," Ballmer told me during the course of an interview this month at Intuit Dome in front of an audience that included participants of the Young Presidents' Institution and also building employees who assisted construct the amenities and their loved ones. "But ... in the growth of this particular building, I probably had a more clear perspective of what I wished to do, and also I have the absolute most satisfaction, not just because it thrived, but [since] it is actually an assets in the community, also." Intuit Dome has very much been actually an enthusiasm task for Ballmer, that sought to make sure that all followers possess a superior adventure. Every chair is designed along with effortless accessibility to giving ins as well as restrooms, phone asking for abilities, and plenty of lower leg room, regardless of ticket price.Ballmer's significant investments are actually paying off. The Clippers gained 51 activities in the 2023-2024 season, as well as finished fourth in the NBA Western Event. (The Dallas Mavericks eliminated the crew from the playoffs.) And Ballmer consistently places as being one of the top NBA proprietors in supporter polls.He is a not likely good example for post-CEO lifestyle. His retirement from Microsoft in 2014 after 34 years at the provider as well as 13 years as CEO was psychological and also fraught. Though profits nearly tripled throughout his tenure, the assets generally stagnated, and the company skipped the opportunity to end up being a gamer in mobile phones and also web companies. Under the gun from the business's panel, Ballmer looked for to revamp the company before eventually determining he was actually not the most ideal person to move Microsoft onward. A media reporter that told his retirement coming from Microsoft illustrated him as "really sad to leave behind the provider." CHIEF EXECUTIVE OFFICER, reinventedPart of what creates Ballmer a second-act effectiveness account is that he really did not choose to recreate his business life. Rather, he seized a chance to get the Clippers after previous co-owner Donald Sterling was outlawed from managing the team or even associating with the NBA. "Having way too many choices may lead to choice tiredness, changing to skip choices, or maybe staying away from making a decision altogether," Wilderotter as well as her co-authors say, recommending ex-CEOs to instead redefine their reason or identity. (Ballmer is actually additionally creator of USAFacts, a nonpartisan data provider.) Bill George, the previous Medtronic CEO who modify themself as a leadership expert after retired life, has mentioned that the past Chief executive officers who flourish are actually the ones that find methods "to generate or even nurture points that will definitely outlast them." Throughout our job interview at the arena, Ballmer resembled this view. "Someone informed me when, 'No person ever before actually possesses a baseball staff. You look after it. You shepherd it, as well as you take it along,'" he points out. "Intuit Dome can be a little bit of what I perform to shepherd this crew along. Due to the fact that it is actually owned due to the fans in the end of the time, and our team only look after it." Are you an one-time CEO in a 2nd act?Are you a previous CEO who possesses found reason in your second process? Exactly how performed you set about finding your brand new identity? Send your insights and also anecdotes to me at stephaniemehta@mansueto.com. I'll share the most engaging examples in a future newsletter.Read as well as view more: 2nd actions Apply to the absolute most Ingenious Companies Honors and be acknowledged as an institution steering the world ahead by means of advancement. Early-rate deadline: Friday, August 23.