.Hello there and invited to Modern CEO! I'm Stephanie Mehta, chief executive officer and chief material police officer of Mansueto Ventures. Every week this bulletin checks out inclusive methods to management reasoned chats along with execs and business owners, and coming from the web pages of Inc. as well as Quick Firm. If you acquired this e-newsletter from a close friend, you can easily join to acquire it your own self every Monday morning.Being a chief executive officer in these times is hard: Pressures include fulfilling investors, dealing with rising prices and also handling ongoing supply-chain concerns, and developing terrific work environments. But also for a lot of execs, being an ex-CEO offers its very own set of challenges. Some problem to cope with the loss of the perks as well as status that include the work, while others really feel obliged to comply with the well-trodden path to exclusive equity or even company panels." Each year, hundreds of executives retire from long and prosperous corporate occupations. But couple of are actually gotten ready for the journey they are about to start," past Outpost Communications chief executive officer Maggie Wilderotter stated earlier this year in a Harvard Service Evaluation essay, penned with career coach Rick Johnson and also headhunter Dennis Carey.Life beyond MicrosoftOne past business big shot who seems to be to have actually discovered his ground is actually past Microsoft chief executive officer Steve Ballmer. Ballmer bought the Los Angeles Clippers basketball group for $2 billion in 2014 as well as just unveiled the group's brand-new home, the Intuit Dome. (Prompt Firm calls it "Steve Ballmer's $ 2 billion playing field for LA Clippers enthusiasts.") The team and also sector have actually offered Ballmer a feeling of reason that possesses, in some ways, overshadowed his expertises at the technician titan. "I have actually serviced a great deal of items throughout my job at Microsoft, and I've loved all of them all," Ballmer informed me in the course of a job interview this month at Intuit Dome before a target market that included members of the Young Presidents' Institution as well as building employees that aided construct the center as well as their loved ones. "Yet ... in the growth of this particular property, I possibly had a clearer scenery of what I desired to carry out, as well as I possess the best complete satisfaction, certainly not even if it thrived, yet [given that] it's an investment in the neighborhood, also." Intuit Dome has actually very much been an interest venture for Ballmer, that sought to ensure that all followers have a superior expertise. Every seat is developed along with simple accessibility to giving ins and also bathrooms, phone demanding functionalities, and also substantial lower leg space, irrespective of ticket price.Ballmer's significant investments are settling. The Clippers succeeded 51 video games in the 2023-2024 period, as well as ended up 4th in the NBA Western Conference. (The Dallas Mavericks did away with the staff from the playoffs.) And also Ballmer regularly rates as being one of the top NBA proprietors in fan polls.He is actually a not likely shining example for post-CEO lifestyle. His retirement coming from Microsoft in 2014 after 34 years at the provider and also 13 years as chief executive officer was actually mental and laden. Though incomes virtually tripled during his tenure, the share basically went stale, as well as the company skipped the chance to become a player in mobile phones and internet companies. Under pressure coming from the business's board, Ballmer looked for to revamp the firm prior to essentially choosing he was not the most ideal individual to relocate Microsoft forward. A press reporter that narrated his departure from Microsoft explained him as "incredibly unfortunate to leave the company." CHIEF EXECUTIVE OFFICER, reinventedPart of what makes Ballmer a second-act results account is that he didn't choose to recreate his business lifestyle. Instead, he took an opportunity to obtain the Clippers after previous co-owner Donald Sterling was prohibited from managing the team or even associating with the NBA. "Having a lot of options can easily cause choice tiredness, reverting to skip alternatives, or perhaps staying away from making a decision completely," Wilderotter and her co-authors state, suggesting ex-CEOs to instead redefine their objective or identity. (Ballmer is likewise creator of USAFacts, a detached data provider.) Expense George, the past Medtronic chief executive officer that modify himself as a management guru after retired life, has actually pointed out that the former CEOs that prosper are actually the ones who discover methods "to make or nourish traits that will certainly outlast them." During our meeting at the arena, Ballmer resembled this conviction. "Someone told me as soon as, 'No person ever truly has a baseball group. You look after it. You shepherd it, as well as you deliver it along,'" he says. "Intuit Dome could be a little of what I carry out to shepherd this team along. Since it's possessed by the followers at the end of the day, as well as we just deal with it." Are you a single CEO in a 2nd act?Are you a previous chief executive officer who possesses discovered reason in your second process? Exactly how performed you handle finding your brand-new identification? Deliver your ideas and also stories to me at stephaniemehta@mansueto.com. I'll discuss the absolute most engaging examples in a potential newsletter.Read and also enjoy more: second acts Apply to the Most Impressive Firms Honors as well as be actually realized as an organization driving the world forward by means of innovation. Early-rate due date: Friday, August 23.