.Hello there and welcome to Modern CEO! I am actually Stephanie Mehta, chief executive officer and also main content officer of Mansueto Ventures. Each week this email list checks out inclusive techniques to management drawn from chats along with execs and entrepreneurs, and also from the pages of Inc. and Quick Business. If you got this email list from a pal, you may join to acquire it on your own every Monday morning.Being a chief executive officer at presents is challenging: Tensions include delighting shareholders, managing rising expenses and also solving ongoing supply-chain issues, as well as generating great offices. But for numerous execs, being an ex-CEO provides its own set of difficulties. Some battle to manage the loss of the advantages as well as status that possess the work, while others feel obliged to comply with the well-trodden course to exclusive equity or even corporate panels." Annually, countless executives relinquish long and effective corporate professions. Yet few are actually organized the quest they are about to start," previous Frontier Communications CEO Maggie Wilderotter declared earlier this year in a Harvard Company Customer review essay, penned along with career train Rick Johnson and headhunter Dennis Carey.Life beyond MicrosoftOne former company big shot who seems to be to have actually located his ground is former Microsoft chief executive officer Steve Ballmer. Ballmer acquired the Los Angeles Clippers basketball crew for $2 billion in 2014 and also merely unveiled the staff's brand-new home, the Intuit Dome. (Swift Company calls it "Steve Ballmer's $ 2 billion play area for Los Angeles Clippers fans.") The crew and arena have actually provided Ballmer a sense of purpose that possesses, somehow, eclipsed his knowledge at the specialist titan. "I have actually serviced a great deal of products over the course of my job at Microsoft, as well as I've loved them all," Ballmer told me during the course of an interview this month at Intuit Dome in front of an audience that consisted of participants of the Youthful Presidents' Company along with construction workers who helped create the facility and also their loved ones. "But ... in the development of this building, I possibly had a clearer scenery of what I desired to do, and also I have the best contentment, not even if it thrived, yet [because] it's an assets in the area, also." Intuit Dome has actually significantly been actually an enthusiasm task for Ballmer, that found to ensure that all enthusiasts possess a costs adventure. Every chair is actually made along with effortless accessibility to concessions and bathrooms, phone asking for capabilities, as well as ample leg room, regardless of ticket price.Ballmer's sizable expenditures are paying. The Clippers succeeded 51 games in the 2023-2024 time, and also completed fourth in the NBA Western Conference. (The Dallas Mavericks removed the staff coming from the playoffs.) As well as Ballmer often ranks as being one of the leading NBA proprietors in supporter polls.He is actually an unlikely role model for post-CEO life. His retired life coming from Microsoft in 2014 after 34 years at the firm as well as 13 years as CEO was actually psychological as well as tangled up. Though incomes almost tripled throughout his period, the share practically stood still, and the provider missed out on the chance to become a gamer in mobile devices and also internet services. Struggling from the company's board, Ballmer sought to renew the business before ultimately determining he was actually not the greatest person to relocate Microsoft onward. A press reporter who chronicled his retirement coming from Microsoft defined him as "really depressing to leave the company." CEO, reinventedPart of what produces Ballmer a second-act results tale is that he really did not choose to recreate his company lifestyle. Rather, he confiscated a chance to get the Clippers after previous co-owner Donald Sterling was actually banned from operating the staff or linking with the NBA. "Possessing a lot of choices may cause choice fatigue, reverting to fail alternatives, or even staying clear of choosing completely," Wilderotter as well as her co-authors say, encouraging ex-CEOs to rather redefine their purpose or identification. (Ballmer is additionally creator of USAFacts, a detached records company.) Costs George, the former Medtronic CEO that modify themself as a leadership guru after retirement, has stated that the former Chief executive officers who prosper are actually the ones that locate techniques "to create or even nourish traits that will outlive them." During the course of our job interview at the field, Ballmer echoed this belief. "A person informed me once, 'Nobody ever before really has a basketball staff. You care for it. You shepherd it, as well as you bring it along,'" he claims. "Intuit Dome can be a little bit of what I carry out to shepherd this staff throughout. Because it is actually had due to the followers at the end of the time, and our company only take care of it." Are you an one-time chief executive officer in a second act?Are you a previous chief executive officer who has discovered reason in your 2nd act? Just how did you engage in finding your brand new identification? Send your knowledge as well as anecdotes to me at stephaniemehta@mansueto.com. I'll discuss the most compelling examples in a potential newsletter.Read and also check out extra: second actions Apply to one of the most Cutting-edge Companies Honors and also be acknowledged as an association driving the world ahead via technology. Early-rate due date: Friday, August 23.