.Greetings and also invited to Modern CEO! I'm Stephanie Mehta, chief executive officer and also main content officer of Mansueto Ventures. Every week this newsletter discovers broad methods to management drawn from conversations with executives and business owners, and also coming from the web pages of Inc. and also Fast Provider. If you got this bulletin coming from a buddy, you may sign up to get it yourself every Monday morning.Being a CEO nowadays is actually hard: Tensions feature fulfilling shareholders, managing increasing costs as well as solving on-going supply-chain concerns, as well as creating excellent workplaces. But for lots of executives, being an ex-CEO provides its own collection of difficulties. Some problem to deal with the reduction of the rewards and condition that possess the job, while others experience required to follow the well-trodden pathway to private equity or corporate panels." Annually, countless executives relinquish long and also productive company jobs. However handful of are planned for the adventure they are about to start," former Frontier Communications CEO Maggie Wilderotter announced previously this year in a Harvard Company Assessment essay, penciled along with profession train Rick Smith and also talent scout Dennis Carey.Life past MicrosoftOne previous corporate big shot who seems to be to have actually located his ground is actually previous Microsoft chief executive officer Steve Ballmer. Ballmer acquired the Los Angeles Clippers basketball staff for $2 billion in 2014 and simply introduced the staff's brand-new home, the Intuit Dome. (Swift Firm calls it "Steve Ballmer's $ 2 billion playing field for LA Clippers followers.") The team as well as arena have offered Ballmer a feeling of purpose that possesses, in some ways, overshadowed his experiences at the tech titan. "I've worked on a bunch of products over the course of my career at Microsoft, and I have actually loved them all," Ballmer informed me throughout a meeting this month at Intuit Dome facing a viewers that included participants of the Youthful Presidents' Company along with building and construction laborers who assisted create the amenities and their loved ones. "Yet ... in the growth of this particular structure, I perhaps had a clearer sight of what I would like to do, as well as I have the absolute most fulfillment, certainly not just because it thrived, yet [given that] it is actually a financial investment in the neighborhood, too." Intuit Dome has very much been an interest venture for Ballmer, that looked for to make certain that all fans possess a superior knowledge. Every seat is developed with easy access to concessions and bathrooms, phone charging functionalities, and also plenty of lower leg area, despite ticket price.Ballmer's considerable assets are settling. The Clippers succeeded 51 games in the 2023-2024 time, and also completed fourth in the NBA Western Conference. (The Dallas Mavericks got rid of the crew from the playoffs.) And Ballmer routinely places being one of the top NBA proprietors in follower polls.He is an extremely unlikely role model for post-CEO lifestyle. His retirement coming from Microsoft in 2014 after 34 years at the provider and 13 years as chief executive officer was actually psychological and also laden. Though profits almost tripled throughout his period, the stock generally stagnated, as well as the firm skipped the chance to become a player in cell phones as well as internet services. Under the gun coming from the provider's panel, Ballmer found to renew the company prior to essentially making a decision he was not the best person to relocate Microsoft ahead. A press reporter that narrated his parting coming from Microsoft defined him as "extremely depressing to leave the firm." CEO, reinventedPart of what makes Ballmer a second-act results story is actually that he really did not choose to recreate his company life. Somewhat, he confiscated an option to obtain the Clippers after previous co-owner Donald Sterling was actually disallowed coming from managing the staff or associating with the NBA. "Possessing way too many choices can easily trigger selection fatigue, reverting to fail choices, or maybe preventing making a decision altogether," Wilderotter and also her co-authors state, recommending ex-CEOs to rather redefine their objective or identification. (Ballmer is additionally creator of USAFacts, a detached information provider.) Costs George, the previous Medtronic CEO who modify themself as a leadership guru after retirement, has stated that the previous CEOs who prosper are actually the ones that locate ways "to develop or even nourish points that will certainly outlast all of them." During our interview at the arena, Ballmer resembled this feeling. "A person informed me as soon as, 'Nobody ever definitely possesses a baseball group. You deal with it. You shepherd it, as well as you bring it along,'" he mentions. "Intuit Dome may be a little of what I do to shepherd this group throughout. Since it is actually had by the enthusiasts by the end of the time, and also our company only care for it." Are you an one-time chief executive officer in a 2nd act?Are you a previous CEO who has discovered purpose in your second action? Just how did you tackle locating your new identity? Send your insights and narratives to me at stephaniemehta@mansueto.com. I'll share the most powerful examples in a potential newsletter.Read and check out extra: 2nd acts Relate to the best Innovative Providers Honors and also be recognized as a company driving the globe forward with development. Early-rate target date: Friday, August 23.