.Hi and invited to Modern CEO! I am actually Stephanie Mehta, CEO as well as primary content policeman of Mansueto Ventures. Every week this e-newsletter discovers inclusive strategies to management reasoned discussions with executives and business people, and also from the web pages of Inc. and Prompt Company. If you got this email list coming from a friend, you can easily subscribe to receive it your own self every Monday morning.Being a chief executive officer in today times is hard: Stress consist of fulfilling investors, dealing with rising expenses as well as dealing with on-going supply-chain problems, and also generating great work environments. But for many executives, being an ex-CEO provides its own set of obstacles. Some struggle to cope with the loss of the advantages and also standing that feature the job, while others feel obliged to follow the well-trodden course to private equity or even company panels." Yearly, countless executives retire from long and also prosperous company professions. Yet couple of are prepared for the experience they are about to start," former Outpost Communications CEO Maggie Wilderotter stated earlier this year in a Harvard Company Testimonial essay, penned along with profession trainer Rick Smith as well as headhunter Dennis Carey.Life past MicrosoftOne former corporate chieftain who seems to be to have actually located his footing is past Microsoft chief executive officer Steve Ballmer. Ballmer acquired the Los Angeles Clippers baseball team for $2 billion in 2014 and also only introduced the group's new home, the Intuit Dome. (Prompt Business calls it "Steve Ballmer's $ 2 billion play ground for LA Clippers followers.") The team as well as sector have offered Ballmer a sense of purpose that has, somehow, darkened his adventures at the tech titan. "I've dealt with a bunch of products over the course of my occupation at Microsoft, and I've liked them all," Ballmer informed me in the course of a meeting this month at Intuit Dome in front of a viewers that included members of the Young Presidents' Company along with building laborers who aided develop the facility as well as their households. "However ... in the progression of this property, I possibly possessed a clearer viewpoint of what I intended to do, and also I possess the absolute most total satisfaction, certainly not even if it thrived, but [given that] it is actually an investment in the area, too." Intuit Dome has actually quite been a passion project for Ballmer, that sought to make sure that all enthusiasts possess a costs expertise. Every seat is developed along with very easy accessibility to giving ins and washrooms, phone billing abilities, as well as sufficient leg room, irrespective of ticket price.Ballmer's sizable expenditures are actually paying. The Clippers gained 51 video games in the 2023-2024 time, and finished fourth in the NBA Western Association. (The Dallas Mavericks dealt with the crew from the playoffs.) As well as Ballmer consistently ranks as one of the top NBA proprietors in fan polls.He is a not likely good example for post-CEO life. His retirement from Microsoft in 2014 after 34 years at the business and also 13 years as CEO was actually psychological and laden. Though incomes virtually tripled during his period, the stock generally stood still, and the provider overlooked the chance to become a player in mobile phones and also web companies. Under the gun from the firm's board, Ballmer sought to renew the business before ultimately deciding he was certainly not the most ideal individual to move Microsoft ahead. A press reporter who chronicled his retirement from Microsoft illustrated him as "very saddening to leave behind the business." CEO, reinventedPart of what produces Ballmer a second-act results tale is actually that he really did not attempt to recreate his corporate lifestyle. Rather, he took possession of a chance to get the Clippers after previous co-owner Donald Sterling was actually banned coming from operating the team or linking with the NBA. "Having too many choices can easily bring about decision fatigue, reverting to skip possibilities, and even staying clear of choosing altogether," Wilderotter and her co-authors point out, encouraging ex-CEOs to instead redefine their function or even identity. (Ballmer is additionally owner of USAFacts, a nonpartisan records company.) Costs George, the past Medtronic chief executive officer who recast himself as a leadership guru after retirement, has claimed that the past CEOs who grow are the ones that discover ways "to develop or even nourish things that are going to outlive them." Throughout our meeting at the field, Ballmer echoed this sentiment. "Somebody informed me the moment, 'Nobody ever truly owns a baseball team. You look after it. You shepherd it, and also you take it along,'" he states. "Intuit Dome could be a little bit of what I carry out to shepherd this group throughout. Considering that it is actually owned due to the fans at the end of the time, as well as our experts just care for it." Are you a single CEO in a second act?Are you a past CEO who possesses located reason in your second process? Exactly how performed you handle locating your brand-new identification? Send your insights as well as anecdotes to me at stephaniemehta@mansueto.com. I'll discuss one of the most convincing examples in a potential newsletter.Read and watch a lot more: second actions Apply to the absolute most Impressive Business Honors and be actually recognized as a company steering the planet forward with advancement. Early-rate target date: Friday, August 23.