.Hi there and invited to Modern CEO! I am actually Stephanie Mehta, CEO as well as main satisfied policeman of Mansueto Ventures. Weekly this bulletin discovers comprehensive strategies to leadership reasoned chats with execs and business people, as well as coming from the pages of Inc. and Rapid Firm. If you obtained this bulletin coming from a pal, you may subscribe to get it on your own every Monday morning.Being a CEO in these times is actually difficult: Tensions consist of delighting shareholders, managing increasing expenses and addressing recurring supply-chain problems, as well as producing great workplaces. However, for numerous managers, being actually an ex-CEO presents its very own collection of problems. Some battle to manage the loss of the advantages and also standing that include the work, while others experience required to observe the well-trodden path to personal equity or even corporate boards." Every year, hundreds of executives relinquish lengthy and prosperous company occupations. But couple of are actually prepared for the quest they are about to start," former Frontier Communications CEO Maggie Wilderotter declared previously this year in a Harvard Service Testimonial essay, penciled with occupation instructor Rick Smith and talent scout Dennis Carey.Life beyond MicrosoftOne previous corporate chieftain who appears to have located his ground is past Microsoft chief executive officer Steve Ballmer. Ballmer acquired the Los Angeles Clippers basketball group for $2 billion in 2014 and just unveiled the group's new home, the Intuit Dome. (Prompt Firm calls it "Steve Ballmer's $ 2 billion play area for Los Angeles Clippers followers.") The staff as well as arena have offered Ballmer a sense of purpose that has, somehow, darkened his expertises at the technology titan. "I have actually dealt with a lot of items over the course of my occupation at Microsoft, and I have actually liked them all," Ballmer told me in the course of a meeting this month at Intuit Dome in front of a viewers that featured members of the Young Presidents' Institution in addition to building employees that assisted develop the location and also their households. "But ... in the progression of this structure, I possibly possessed a clearer viewpoint of what I would like to carry out, and I have the most fulfillment, certainly not just because it thrived, however [because] it is actually an investment in the community, too." Intuit Dome has actually very much been actually a passion project for Ballmer, who sought to guarantee that all fans possess a fee experience. Every seat is actually developed along with easy accessibility to giving ins and also restrooms, phone charging capabilities, and substantial leg room, no matter ticket price.Ballmer's substantial assets are actually paying. The Clippers gained 51 video games in the 2023-2024 season, and completed 4th in the NBA Western Event. (The Dallas Mavericks got rid of the group from the playoffs.) And also Ballmer consistently ranks as being one of the leading NBA proprietors in fan polls.He is an unexpected shining example for post-CEO life. His retirement coming from Microsoft in 2014 after 34 years at the firm and also 13 years as CEO was emotional and filled. Though profits virtually tripled throughout his tenure, the share essentially stagnated, and also the business overlooked the opportunity to become a gamer in cell phones as well as net solutions. Under the gun from the business's panel, Ballmer found to renew the business before inevitably choosing he was certainly not the very best individual to relocate Microsoft onward. A press reporter who recorded his separation from Microsoft illustrated him as "very depressing to leave the company." CHIEF EXECUTIVE OFFICER, reinventedPart of what makes Ballmer a second-act effectiveness tale is that he didn't attempt to recreate his company lifestyle. Instead, he seized an opportunity to get the Clippers after previous co-owner Donald Sterling was actually outlawed from operating the staff or even relating to the NBA. "Possessing excessive choices can lead to choice exhaustion, changing to default possibilities, and even preventing deciding completely," Wilderotter and also her co-authors claim, advising ex-CEOs to rather redefine their objective or even identification. (Ballmer is actually additionally owner of USAFacts, a nonpartisan data firm.) Bill George, the previous Medtronic CEO who modify themself as a leadership master after retirement life, has pointed out that the past CEOs that thrive are the ones who locate means "to develop or even nourish traits that are going to outlive all of them." Throughout our meeting at the field, Ballmer reflected this sentiment. "A person informed me when, 'Nobody ever actually has a basketball group. You take care of it. You shepherd it, and also you deliver it along,'" he states. "Intuit Dome may be a bit of what I do to shepherd this team throughout. Due to the fact that it's possessed by the followers in the end of the day, and we just handle it." Are you a single CEO in a 2nd act?Are you a past chief executive officer that possesses discovered reason in your 2nd action? Exactly how did you engage in finding your brand-new identification? Send your knowledge and anecdotes to me at stephaniemehta@mansueto.com. I'll discuss the absolute most convincing examples in a future newsletter.Read and watch much more: 2nd actions Apply to the Most Innovative Companies Honors as well as be actually recognized as an association driving the world onward by means of technology. Early-rate due date: Friday, August 23.