.Hello there as well as invited to Modern CEO! I am actually Stephanie Mehta, CEO and also main satisfied police officer of Mansueto Ventures. Each week this newsletter discovers broad strategies to management drawn from discussions along with managers as well as business owners, and from the web pages of Inc. and Quick Provider. If you acquired this e-newsletter coming from a good friend, you may subscribe to obtain it yourself every Monday morning.Being a chief executive officer at presents is actually hard: Pressures include delighting shareholders, handling increasing costs and resolving continuous supply-chain concerns, as well as developing excellent place of work. But also for many executives, being an ex-CEO presents its personal collection of obstacles. Some battle to handle the loss of the perks and also condition that include the work, while others feel obliged to follow the well-trodden course to private equity or company boards." Annually, 1000s of managers retire from long and successful company jobs. But few are actually gotten ready for the journey they are about to embark on," former Frontier Communications CEO Maggie Wilderotter declared earlier this year in a Harvard Company Evaluation essay, penned along with profession coach Rick Smith and headhunter Dennis Carey.Life past MicrosoftOne previous corporate big shot who seems to have found his ground is actually former Microsoft chief executive officer Steve Ballmer. Ballmer bought the Los Angeles Clippers basketball team for $2 billion in 2014 and just introduced the group's brand-new home, the Intuit Dome. (Prompt Firm calls it "Steve Ballmer's $ 2 billion play ground for LA Clippers fans.") The team and arena have offered Ballmer a feeling of objective that possesses, in some ways, overshadowed his knowledge at the technician giant. "I've focused on a bunch of items over the course of my career at Microsoft, as well as I have actually adored all of them all," Ballmer told me throughout a job interview this month at Intuit Dome in front of a target market that included participants of the Youthful Presidents' Association in addition to building workers that aided develop the location and also their households. "But ... in the advancement of this particular building, I most likely had a clearer view of what I would like to carry out, and I have the absolute most total satisfaction, certainly not just because it thrived, yet [due to the fact that] it's an investment in the community, too." Intuit Dome has significantly been actually an interest project for Ballmer, who looked for to make certain that all enthusiasts have a superior expertise. Every seat is created along with easy accessibility to deals and shower rooms, phone charging capabilities, as well as sufficient leg room, no matter ticket price.Ballmer's significant expenditures are paying. The Clippers succeeded 51 activities in the 2023-2024 time, and finished fourth in the NBA Western Event. (The Dallas Mavericks dealt with the team coming from the playoffs.) And Ballmer consistently places as one of the top NBA managers in fan polls.He is actually an unlikely shining example for post-CEO lifestyle. His retired life from Microsoft in 2014 after 34 years at the company and 13 years as CEO was actually psychological as well as filled. Though earnings virtually tripled during the course of his tenure, the share essentially stagnated, as well as the business missed out on the option to come to be a gamer in smart phones as well as world wide web companies. Under the gun from the business's board, Ballmer looked for to revamp the firm just before ultimately deciding he was actually certainly not the greatest individual to relocate Microsoft forward. A reporter who narrated his departure coming from Microsoft defined him as "really saddening to leave the firm." CEO, reinventedPart of what helps make Ballmer a second-act effectiveness tale is that he really did not try to recreate his company life. Somewhat, he confiscated an option to obtain the Clippers after previous co-owner Donald Sterling was actually banned from operating the team or even associating with the NBA. "Having way too many choices can lead to selection tiredness, changing to fail choices, or even avoiding choosing entirely," Wilderotter as well as her co-authors say, advising ex-CEOs to as an alternative redefine their reason or identity. (Ballmer is actually likewise founder of USAFacts, a nonpartisan data business.) Bill George, the former Medtronic CEO that recast himself as a management authority after retirement life, has said that the past Chief executive officers who thrive are actually the ones that discover methods "to generate or even nourish traits that will definitely outlive all of them." During our job interview at the stadium, Ballmer reflected this conviction. "A person informed me the moment, 'No person ever really has a basketball staff. You deal with it. You shepherd it, as well as you carry it along,'" he points out. "Intuit Dome may be a little of what I do to shepherd this staff throughout. Considering that it is actually owned by the enthusiasts by the end of the day, and our team merely look after it." Are you a single CEO in a 2nd act?Are you a past chief executive officer who possesses found purpose in your 2nd action? Just how performed you deal with finding your brand new identity? Deliver your ideas and also narratives to me at stephaniemehta@mansueto.com. I'll share the absolute most compelling instances in a future newsletter.Read and enjoy more: 2nd process Put on the absolute most Impressive Business Awards as well as be realized as a company driving the globe forward by means of technology. Early-rate due date: Friday, August 23.