.Hi there and appreciated to Modern CEO! I'm Stephanie Mehta, chief executive officer and main content officer of Mansueto Ventures. Every week this e-newsletter discovers inclusive strategies to management reasoned chats with execs and business people, and coming from the web pages of Inc. as well as Fast Firm. If you got this email list coming from a buddy, you may join to acquire it yourself every Monday morning.Being a chief executive officer in these times is actually tough: Pressures include delighting investors, dealing with climbing prices and resolving recurring supply-chain issues, and making terrific offices. But also for lots of managers, being an ex-CEO presents its very own set of difficulties. Some battle to deal with the reduction of the benefits as well as status that come with the work, while others experience required to comply with the well-trodden path to personal equity or even business panels." Every year, countless managers retire from lengthy and also prosperous corporate jobs. Yet couple of are organized the experience they are about to plunge into," previous Outpost Communications CEO Maggie Wilderotter announced previously this year in a Harvard Company Review essay, penciled along with occupation coach Rick Smith and also headhunter Dennis Carey.Life past MicrosoftOne previous company chieftain that appears to have located his footing is former Microsoft CEO Steve Ballmer. Ballmer purchased the Los Angeles Clippers baseball team for $2 billion in 2014 as well as simply introduced the team's brand-new home, the Intuit Dome. (Quick Business calls it "Steve Ballmer's $ 2 billion play ground for LA Clippers supporters.") The crew and also sector have provided Ballmer a feeling of function that has, in some ways, darkened his adventures at the technology giant. "I have actually dealt with a lot of products over the course of my job at Microsoft, as well as I've enjoyed them all," Ballmer told me during a job interview this month at Intuit Dome in front of an audience that included participants of the Young Presidents' Institution along with building employees who helped develop the amenities and their family members. "Yet ... in the growth of the building, I perhaps possessed a more clear perspective of what I wanted to carry out, and I have one of the most satisfaction, certainly not even if it prospered, yet [since] it's an expenditure in the area, as well." Intuit Dome has significantly been an interest project for Ballmer, that looked for to make certain that all fans have a fee adventure. Every chair is created along with quick and easy access to concessions and also shower rooms, phone demanding capabilities, and also substantial leg space, no matter ticket price.Ballmer's considerable investments are actually settling. The Clippers succeeded 51 activities in the 2023-2024 period, and finished 4th in the NBA Western Conference. (The Dallas Mavericks removed the team coming from the playoffs.) And also Ballmer often rates as one of the best NBA owners in follower polls.He is actually an unlikely shining example for post-CEO life. His retirement life coming from Microsoft in 2014 after 34 years at the company and 13 years as chief executive officer was mental and also filled. Though incomes almost tripled during the course of his period, the equity basically stagnated, as well as the company skipped the chance to become a gamer in smart phones and also world wide web solutions. Under pressure from the firm's board, Ballmer looked for to overhaul the firm before essentially determining he was actually not the very best individual to relocate Microsoft forward. A media reporter that chronicled his separation from Microsoft illustrated him as "really saddening to leave behind the firm." CHIEF EXECUTIVE OFFICER, reinventedPart of what helps make Ballmer a second-act success tale is that he didn't try to recreate his company life. Somewhat, he took possession of an opportunity to get the Clippers after previous co-owner Donald Sterling was actually prohibited from running the group or even relating to the NBA. "Possessing way too many selections can easily trigger choice fatigue, reverting to default choices, or perhaps preventing choosing altogether," Wilderotter as well as her co-authors mention, advising ex-CEOs to rather redefine their purpose or even identification. (Ballmer is actually additionally founder of USAFacts, a detached data company.) Bill George, the previous Medtronic CEO that recast themself as a management authority after retirement life, has actually mentioned that the past CEOs that grow are the ones that find methods "to create or nurture points that will outlive all of them." In the course of our interview at the stadium, Ballmer resembled this view. "Someone told me once, 'No person ever actually owns a baseball group. You deal with it. You shepherd it, and also you carry it along,'" he claims. "Intuit Dome can be a little bit of what I perform to shepherd this team throughout. Given that it is actually possessed by the enthusiasts by the end of the time, and also our company just take care of it." Are you a single CEO in a 2nd act?Are you a former CEO who has located function in your second action? Exactly how performed you handle finding your new identity? Deliver your knowledge and stories to me at stephaniemehta@mansueto.com. I'll share the most powerful examples in a future newsletter.Read and also view much more: 2nd process Put on the absolute most Ingenious Companies Honors and also be actually recognized as an institution steering the globe ahead through technology. Early-rate deadline: Friday, August 23.