.Hello there as well as invited to Modern CEO! I'm Stephanie Mehta, CEO as well as main material police officer of Mansueto Ventures. Weekly this newsletter looks into comprehensive methods to management reasoned discussions with managers and also business owners, as well as coming from the webpages of Inc. as well as Rapid Business. If you obtained this e-newsletter from a friend, you may enroll to get it your own self every Monday morning.Being a CEO in today times is actually challenging: Stress consist of pleasing shareholders, dealing with climbing costs and also resolving recurring supply-chain issues, as well as producing terrific place of work. But also for lots of managers, being actually an ex-CEO offers its very own collection of challenges. Some problem to deal with the loss of the perks as well as status that come with the job, while others experience obliged to follow the well-trodden path to private equity or even company boards." Yearly, lots of execs relinquish lengthy and also effective business careers. However handful of are prepared for the trip they are about to plunge into," former Frontier Communications CEO Maggie Wilderotter announced earlier this year in a Harvard Company Evaluation essay, penned along with profession coach Rick Smith and also headhunter Dennis Carey.Life past MicrosoftOne previous corporate chieftain that appears to have actually located his footing is actually previous Microsoft chief executive officer Steve Ballmer. Ballmer acquired the Los Angeles Clippers baseball crew for $2 billion in 2014 and also merely revealed the crew's brand new home, the Intuit Dome. (Rapid Firm calls it "Steve Ballmer's $ 2 billion play ground for Los Angeles Clippers enthusiasts.") The team and sector have actually offered Ballmer a sense of purpose that has, somehow, darkened his experiences at the technician titan. "I've dealt with a considerable amount of products throughout my career at Microsoft, and also I've loved them all," Ballmer told me in the course of a meeting this month at Intuit Dome before a reader that featured members of the Youthful Presidents' Institution as well as development employees that aided create the facility and their families. "But ... in the progression of the structure, I perhaps had a clearer sight of what I would like to do, and also I have the absolute most fulfillment, certainly not even if it prospered, yet [because] it is actually an investment in the community, too." Intuit Dome has actually very much been an interest job for Ballmer, who found to ensure that all followers possess a costs knowledge. Every chair is created along with effortless accessibility to concessions and also washrooms, phone demanding abilities, and ample leg room, regardless of ticket price.Ballmer's sizable assets are repaying. The Clippers succeeded 51 video games in the 2023-2024 period, and finished fourth in the NBA Western Association. (The Dallas Mavericks dealt with the staff coming from the playoffs.) And Ballmer routinely positions being one of the leading NBA managers in supporter polls.He is actually an unlikely good example for post-CEO lifestyle. His retirement life coming from Microsoft in 2014 after 34 years at the provider as well as thirteen years as CEO was actually mental as well as fraught. Though revenues almost tripled throughout his period, the stock basically stagnated, and also the company missed the option to become a player in mobile devices and also world wide web solutions. Under the gun coming from the company's panel, Ballmer sought to overhaul the provider just before eventually choosing he was not the greatest individual to move Microsoft onward. A reporter who recorded his departure coming from Microsoft described him as "very sad to leave behind the provider." CEO, reinventedPart of what produces Ballmer a second-act effectiveness tale is actually that he didn't choose to reproduce his company life. Rather, he seized an opportunity to get the Clippers after previous co-owner Donald Sterling was outlawed coming from managing the group or even linking with the NBA. "Having way too many choices can easily result in decision tiredness, going back to default alternatives, or maybe staying clear of choosing completely," Wilderotter and also her co-authors mention, recommending ex-CEOs to rather redefine their reason or identification. (Ballmer is actually also creator of USAFacts, a detached data business.) Expense George, the past Medtronic CEO who recast themself as a management master after retired life, has pointed out that the former Chief executive officers who grow are the ones that locate methods "to generate or even nurture factors that are going to outlast them." During our job interview at the field, Ballmer echoed this view. "Somebody informed me when, 'No person ever actually owns a basketball group. You take care of it. You shepherd it, and you bring it along,'" he states. "Intuit Dome can be a small amount of what I carry out to shepherd this staff throughout. Because it's owned by the enthusiasts by the end of the day, and also our company merely handle it." Are you an one-time chief executive officer in a 2nd act?Are you a former CEO who possesses found purpose in your second act? How performed you handle discovering your new identification? Deliver your ideas and also anecdotes to me at stephaniemehta@mansueto.com. I'll share the best compelling examples in a future newsletter.Read and also see extra: second acts Put on one of the most Impressive Firms Awards and be actually identified as an association steering the globe forward through advancement. Early-rate deadline: Friday, August 23.