.Greetings as well as welcome to Modern CEO! I'm Stephanie Mehta, chief executive officer and also chief content policeman of Mansueto Ventures. Every week this e-newsletter explores inclusive approaches to management reasoned discussions with managers and also business people, and also from the pages of Inc. and also Quick Business. If you acquired this e-newsletter coming from a buddy, you can subscribe to acquire it yourself every Monday morning.Being a CEO nowadays is actually difficult: Pressures consist of satisfying shareholders, managing climbing expenses and also solving ongoing supply-chain problems, as well as creating fantastic workplaces. However, for numerous managers, being actually an ex-CEO presents its own collection of problems. Some battle to handle the loss of the rewards and status that feature the task, while others really feel obliged to adhere to the well-trodden road to private equity or business panels." Each year, thousands of executives retire from lengthy as well as productive company occupations. But handful of are actually gotten ready for the journey they are about to plunge into," past Frontier Communications chief executive officer Maggie Wilderotter stated previously this year in a Harvard Service Review essay, penned with profession train Rick Johnson and headhunter Dennis Carey.Life past MicrosoftOne past business tribal chief that seems to be to have actually discovered his ground is actually previous Microsoft chief executive officer Steve Ballmer. Ballmer acquired the Los Angeles Clippers baseball team for $2 billion in 2014 as well as only unveiled the crew's brand-new home, the Intuit Dome. (Rapid Firm calls it "Steve Ballmer's $ 2 billion playing field for Los Angeles Clippers followers.") The team as well as field have actually offered Ballmer a sense of function that has, in some ways, shrouded his knowledge at the technician giant. "I've worked on a ton of products over the course of my occupation at Microsoft, as well as I have actually liked all of them all," Ballmer told me throughout a meeting this month at Intuit Dome before a reader that consisted of participants of the Youthful Presidents' Institution in addition to building workers that helped create the amenities and also their loved ones. "But ... in the growth of the building, I possibly had a more clear perspective of what I intended to do, and I possess one of the most complete satisfaction, not even if it thrived, yet [since] it is actually a financial investment in the area, too." Intuit Dome has actually quite been actually an enthusiasm task for Ballmer, that sought to make certain that all fans have a premium knowledge. Every seat is actually made with very easy access to concessions and also restrooms, phone demanding functionalities, and also substantial leg room, regardless of ticket price.Ballmer's substantial investments are actually settling. The Clippers won 51 video games in the 2023-2024 time, as well as completed 4th in the NBA Western Event. (The Dallas Mavericks got rid of the team coming from the playoffs.) As well as Ballmer often positions being one of the best NBA proprietors in enthusiast polls.He is an extremely unlikely shining example for post-CEO lifestyle. His retirement life from Microsoft in 2014 after 34 years at the provider and thirteen years as chief executive officer was actually psychological and also tangled up. Though incomes nearly tripled in the course of his tenure, the equity generally stagnated, and also the firm missed out on the possibility to end up being a player in smart phones and also world wide web companies. Under the gun coming from the provider's board, Ballmer looked for to renew the business before inevitably making a decision he was actually not the most ideal individual to relocate Microsoft onward. A media reporter that narrated his departure from Microsoft illustrated him as "extremely unfortunate to leave the business." CEO, reinventedPart of what helps make Ballmer a second-act success story is actually that he didn't choose to recreate his corporate lifestyle. Somewhat, he took an opportunity to acquire the Clippers after previous co-owner Donald Sterling was actually disallowed coming from managing the team or relating to the NBA. "Having way too many choices can trigger decision tiredness, returning to default possibilities, and even steering clear of choosing altogether," Wilderotter and her co-authors mention, recommending ex-CEOs to rather redefine their function or identity. (Ballmer is additionally owner of USAFacts, a detached data provider.) Costs George, the past Medtronic chief executive officer who modify themself as a management master after retirement life, has actually mentioned that the past Chief executive officers that flourish are actually the ones who find methods "to create or even support traits that will certainly outlast them." Throughout our interview at the stadium, Ballmer resembled this sentiment. "A person told me the moment, 'No one ever before really has a basketball crew. You handle it. You shepherd it, and you take it along,'" he mentions. "Intuit Dome can be a bit of what I do to shepherd this team along. Since it's had by the enthusiasts in the end of the day, as well as we only look after it." Are you a single CEO in a 2nd act?Are you a former CEO that has located function in your 2nd act? Just how performed you tackle locating your new identity? Deliver your knowledge as well as stories to me at stephaniemehta@mansueto.com. I'll share one of the most compelling examples in a future newsletter.Read and watch even more: 2nd actions Put on one of the most Cutting-edge Firms Awards as well as be actually recognized as an organization steering the world ahead via technology. Early-rate deadline: Friday, August 23.