.Hello and appreciated to Modern CEO! I am actually Stephanie Mehta, chief executive officer and main satisfied officer of Mansueto Ventures. Every week this newsletter discovers comprehensive methods to management drawn from discussions with executives as well as business owners, and also from the pages of Inc. and Rapid Business. If you got this e-newsletter from a buddy, you may enroll to obtain it your own self every Monday morning.Being a CEO in today times is challenging: Stress consist of delighting shareholders, managing climbing costs and also resolving recurring supply-chain concerns, and producing wonderful place of work. But for many execs, being actually an ex-CEO offers its own collection of challenges. Some struggle to handle the reduction of the perks as well as standing that feature the job, while others experience required to observe the well-trodden course to personal equity or business panels." Yearly, hundreds of execs relinquish lengthy and prosperous business occupations. Yet handful of are planned for the adventure they will start," previous Frontier Communications CEO Maggie Wilderotter stated earlier this year in a Harvard Service Testimonial essay, penciled along with career train Rick Smith and headhunter Dennis Carey.Life past MicrosoftOne past business big shot who seems to be to have located his footing is actually previous Microsoft chief executive officer Steve Ballmer. Ballmer purchased the Los Angeles Clippers basketball staff for $2 billion in 2014 and also simply introduced the staff's new home, the Intuit Dome. (Swift Company calls it "Steve Ballmer's $ 2 billion play ground for Los Angeles Clippers followers.") The team as well as sector have actually provided Ballmer a sense of purpose that has, in some ways, darkened his knowledge at the technician titan. "I have actually serviced a considerable amount of products over the course of my profession at Microsoft, and also I have actually adored all of them all," Ballmer informed me throughout an interview this month at Intuit Dome facing a target market that consisted of members of the Young Presidents' Organization in addition to building and construction workers that helped construct the amenities and their loved ones. "However ... in the development of this particular property, I probably had a more clear viewpoint of what I wanted to carry out, as well as I possess the best fulfillment, certainly not just because it thrived, but [considering that] it's a financial investment in the community, as well." Intuit Dome has actually very much been actually an interest task for Ballmer, who looked for to guarantee that all supporters have a costs adventure. Every chair is developed along with effortless accessibility to giving ins and washrooms, phone demanding capabilities, and plenty of lower leg room, regardless of ticket price.Ballmer's considerable assets are actually paying off. The Clippers succeeded 51 games in the 2023-2024 season, and ended up fourth in the NBA Western Association. (The Dallas Mavericks eliminated the group from the playoffs.) As well as Ballmer regularly ranks as one of the best NBA managers in fan polls.He is an improbable role model for post-CEO lifestyle. His retirement life from Microsoft in 2014 after 34 years at the provider and also thirteen years as chief executive officer was actually mental and also fraught. Though earnings nearly tripled during his period, the stock practically stood still, as well as the business missed the option to end up being a player in cell phones as well as net solutions. Under the gun coming from the provider's panel, Ballmer looked for to overhaul the company just before inevitably deciding he was not the very best individual to relocate Microsoft forward. A media reporter that told his parting from Microsoft explained him as "incredibly saddening to leave the company." CHIEF EXECUTIVE OFFICER, reinventedPart of what produces Ballmer a second-act results account is actually that he failed to attempt to reproduce his company lifestyle. Somewhat, he seized an option to get the Clippers after previous co-owner Donald Sterling was actually prohibited from operating the group or relating to the NBA. "Having way too many selections can bring about choice tiredness, reverting to fail alternatives, or perhaps steering clear of choosing altogether," Wilderotter and her co-authors mention, encouraging ex-CEOs to as an alternative redefine their purpose or identity. (Ballmer is actually additionally founder of USAFacts, a nonpartisan information provider.) Costs George, the previous Medtronic chief executive officer who recast themself as a leadership expert after retirement life, has actually said that the past CEOs that prosper are actually the ones that locate ways "to make or support points that will definitely outlast them." In the course of our interview at the arena, Ballmer resembled this view. "Someone told me when, 'No one ever definitely owns a basketball staff. You deal with it. You shepherd it, and also you bring it along,'" he mentions. "Intuit Dome can be a little of what I perform to shepherd this group along. Considering that it is actually owned by the supporters 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 discovered reason in your 2nd action? Exactly how did you go about locating your new identity? Send your insights as well as anecdotes to me at stephaniemehta@mansueto.com. I'll discuss the absolute most engaging examples in a future newsletter.Read and watch extra: second acts Put on the Most Impressive Companies Honors and also be actually acknowledged as an association steering the globe ahead through advancement. Early-rate deadline: Friday, August 23.