.Hello and invited to Modern chief executive officer! I'm Stephanie Mehta, chief executive officer and primary content officer of Mansueto Ventures. Weekly this email list discovers inclusive methods to management reasoned chats along with executives and also business owners, and also from the web pages of Inc. and also Swift Business. If you obtained this e-newsletter from a friend, you may enroll to obtain it on your own every Monday morning.Being a chief executive officer at presents is tough: Tensions include satisfying investors, managing rising costs and dealing with recurring supply-chain issues, as well as creating fantastic place of work. However, for many managers, being actually an ex-CEO provides its personal set of obstacles. Some battle to handle the loss of the benefits as well as condition that feature the work, while others really feel obliged to observe the well-trodden pathway to private equity or company panels." Yearly, countless executives relinquish lengthy and effective company professions. Yet handful of are planned for the adventure they are about to start," previous Frontier Communications CEO Maggie Wilderotter declared earlier this year in a Harvard Service Testimonial essay, penned along with occupation trainer Rick Smith and headhunter Dennis Carey.Life beyond MicrosoftOne former corporate tribal chief that seems to be to have discovered his ground is past Microsoft CEO Steve Ballmer. Ballmer acquired the Los Angeles Clippers basketball staff for $2 billion in 2014 and simply revealed the staff's new home, the Intuit Dome. (Fast Firm calls it "Steve Ballmer's $ 2 billion play ground for LA Clippers fans.") The team as well as field have offered Ballmer a sense of reason that has, somehow, eclipsed his expertises at the technician titan. "I've serviced a ton of items over the course of my job at Microsoft, and also I have actually liked all of them all," Ballmer informed me during a job interview this month at Intuit Dome before a target market that consisted of participants of the Young Presidents' Company in addition to building and construction employees that assisted create the establishment as well as their family members. "However ... in the progression of the property, I most likely possessed a more clear scenery of what I wanted to perform, and also I have one of the most total satisfaction, not just because it prospered, yet [due to the fact that] it is actually a financial investment in the neighborhood, as well." Intuit Dome has significantly been an enthusiasm task for Ballmer, who found to guarantee that all supporters have a superior adventure. Every seat is actually developed along with easy access to concessions and bathrooms, phone charging capacities, and also adequate lower leg room, no matter ticket price.Ballmer's substantial assets are actually paying off. The Clippers succeeded 51 games in the 2023-2024 season, and also ended up 4th in the NBA Western Conference. (The Dallas Mavericks eliminated the team coming from the playoffs.) And Ballmer often ranks as being one of the top NBA proprietors in enthusiast polls.He is actually a not likely shining example for post-CEO lifestyle. His retirement from Microsoft in 2014 after 34 years at the company and also 13 years as CEO was mental and also laden. Though earnings nearly tripled in the course of his period, the equity basically went stale, as well as the provider missed the option to come to be a player in cell phones as well as web services. Under the gun coming from the firm's board, Ballmer sought to renew the company before essentially determining he was actually certainly not the most effective person to relocate Microsoft onward. A reporter who recorded his departure coming from Microsoft described him as "quite sad to leave the company." CEO, reinventedPart of what produces Ballmer a second-act success tale is actually that he didn't attempt to recreate his business life. Rather, he confiscated a chance to acquire the Clippers after previous co-owner Donald Sterling was prohibited coming from running the staff or even associating with the NBA. "Possessing excessive options may cause selection fatigue, going back to default alternatives, or even avoiding choosing completely," Wilderotter and her co-authors point out, urging ex-CEOs to as an alternative redefine their function or even identification. (Ballmer is likewise creator of USAFacts, a nonpartisan information company.) Expense George, the past Medtronic CEO who recast himself as a management master after retired life, has stated that the former CEOs who grow are the ones who locate methods "to produce or nourish points that will certainly outlast them." In the course of our interview at the stadium, Ballmer reflected this feeling. "Someone informed me when, 'Nobody ever truly possesses a basketball staff. You handle it. You shepherd it, and you deliver it along,'" he states. "Intuit Dome can be a bit of what I carry out to shepherd this staff throughout. Given that it is actually possessed by the enthusiasts in the end of the time, as well as our experts only handle it." Are you an one-time CEO in a second act?Are you a former CEO that has found objective in your 2nd action? Just how performed you deal with finding your brand new identity? Deliver your knowledge as well as stories to me at stephaniemehta@mansueto.com. I'll discuss one of the most convincing instances in a potential newsletter.Read and also enjoy a lot more: second actions Put on the best Innovative Providers Awards as well as be identified as a company steering the globe ahead by means of technology. Early-rate target date: Friday, August 23.